The Consumer Debt Clearance Statute Article 33

The creditor shall, within the period for declaration of claims as fixed by the court, submit a description of claims, which shall include categories, amounts and priority of his/her claims, as well as supporting documents, if any. If the creditor is a financial institution or an asset management company, the description of claims under the preceding paragraph shall also state the following: 1. The principal of the outstanding claim and the occurrence date of the claim. 2. The amount of interest and default penalties, and their respective calculation methods. 3. The amount already repaid by the debtor. 4. The sequence and amount of offset of expenses, interest and principal against the amount under the preceding subparagraph. 5. The account number at a financial institution used for repayment, the handling person, and the contact method. 6. Other matter requested by the debtor which is considered proper by the court. If the creditor fails to submit the description of claims in accordance with the provision of the preceding paragraph, the court shall, on application of the debtor, determine a date and order the creditor to make all necessary corrections. If no correction is made within such period, the court, in rendering the ruling under Article 36, shall take into consideration any evidence presented during oral argument. If a creditor cannot provide the declaration of claims within the period prescribed under paragraph 1 of this article due to a cause not attributable to him/her, he/she may supplement the declaration within 10 days after that cause is extinguished; however, the extra time allowed may not go beyond the period for supplemental declaration of claims prescribed by the court. If the creditor declares his/her claim after the prescribed period, the supervisor or the administrator shall report to the court for dismissal of such declaration by a ruling; however, this shall not apply to the circumstances under the preceding paragraph. After receipt of the declarations of claims, the supervisor or the administrator shall prepare the list of claims after expiration of the prescribed period for supplemental declaration of claims. Such list shall be publicized by the court and shall be served on the debtor and creditors whose residence, office, or business place are known.If neither a supervisor nor an administrator is selected, the list of claims under the preceding paragraph shall be prepared by the court.