In uncertain economic times, many individuals and businesses are unable to fulfill their financial obligations and go further into debt. Other circumstances that can contribute to economic insolvency for businesses are unwise business decisions, lack of working capital, unmoving inventory, or other factors. Creditors have the right to attempt to collect payments with the legal boundaries afforded to them. Our firm has helped many creditors with the various actions of debt collection including before and after debtors' bankruptcy proceedings. Schern Richardson Finter, PLC is dedicated to assisting clients receive monies owed to them by using the legal means available to them. Our attorneys can protect your creditor's rights and we represent clients in the State and Federal Courts. Some of the collection matters for our clients include those involving credit unions, businesses and business-to-business situations.
Creditors have the right to claim assets from debtors in Chapter 7, Chapter 13 and Chapter 11 bankruptcies. Our firm creditor clients with the following actions at the time of bankruptcy that can include:
The bankruptcy laws allow creditors to appear at hearings and claim the right to payment from bankruptcy liquidation or other means. It is important to have an experienced attorney represent you before, during and after the bankruptcy proceedings and help you exercise your right to collect the monies owed. Having an attorney deal with the debtor and the bankruptcy court can make a difference in the outcome of the case. A failure to protest or make the debt known can have economic consequences for the creditor.
Our firm offers services that include asset searches and debtor examinations, and stay relief. Investigations can uncover fraudulent transfers by debtors, lien avoidance, personal guarantees, foreclosures, hidden assets, wage garnishments, past bankruptcies, and more. It is important to be thorough in investigations and to be prepared at the time of the bankruptcy hearing to protect your creditor's rights fully.
The attorneys with our firm have a vast amount of experience in negotiations and in litigating cases. Negotiating with debtors before and after bankruptcy, working out prejudgment and post-judgment remedies can be beneficial to the debtor and the creditor. Working with the courts can result in setting up receiverships, facilitating foreclosures and repossessions, deeds in lieu of foreclosure, garnishment and attachment proceedings, debt restructuring and other collection actions.
Your business may suffer because of non-payment for goods of services or loans made to others for cars, business equipment, or other properties. Once a debtor files for bankruptcy, your right to contact the debtor and attempt to collect a debt must cease. At that point, the debtor has protection by the courts from your collection actions. A debtor may have a good bankruptcy case, but that does not exclude your ability to protest at the hearing and have a chance to work out payment through asset liquidation, debt restructuring through Chapter 13 or other means. If you do not protect your rights then you may lose them and suffer an economic loss.
We handle all types of commercial torts and have represented many creditors at the time of bankruptcy. In our first meeting, you will need to provide us with specific financial information regarding the debt and debtor. We can conduct an investigation into the matter and prepare for our say in bankruptcy court.
Protect your creditor rights. Call Schern Richardson Finter, PLC for more information.
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