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When a Bank Fails - Facts for Depositors, Creditors, and Borrowers 1

General Creditors

How will general creditors be notified of the closing?

The FDIC will send prompt notice of the closing to all trade creditors, employees, taxing entities, and any other creditors who may be owed money by the failed bank. The FDIC will also publish notices in local newspapers for several months after the failure.

How do I file a claim as a general creditor?

The notice that creditors receive will include instructions and the appropriate forms for filing a claim against the receivership. Documentation of the claim is required and must be submitted in a timely manner. The notice will provide a deadline by which all claims must be filed. Most general creditor claims will be acknowledged or denied by the FDIC within 180 days. A creditor will receive a Receiver's Certificate in the amount of the claim and may receive payments from the receivership as the assets are liquidated.