Creditors Have Rights In Bankruptcies
When a creditor is pursuing a debt, whether it is owed by an individual or a company, receiving payment is the goal, but it becomes much more complicated if the debtor files for bankruptcy. There are many requirements for a proper bankruptcy filing and it must be understood that the bankruptcy system is a court system.
Lawsuits and objections are permitted and ought to be pursued if they are viable. Having an attorney who knows the bankruptcy court system could be the difference between partial or whole payment, or no payment at all.
I am lawyer Michael E. Eisenberg. I have more than 25 years of bankruptcy experience. I have an in-depth understanding of the law, the bankruptcy process and the options available to creditors during bankruptcy proceedings. Located in Hatboro, I help creditors throughout Southeastern Pennsylvania protect their right to payment during bankruptcy.
Creditors Have Rights
Bankruptcy offers debtors a way to eliminate or reduce their debts. This process often leaves lenders with unenforceable contracts, unpaid loans and no right to collect the debts they are owed. However, creditors do have rights during bankruptcy.
As your attorney, I will advise you of these rights and explain your legal options. I use a variety of strategies and tools to preserve my clients’ right to collection, such as:
- Filing proofs of claims and adversarial actions
- Exposing and challenging fraudulent transfers
- Petitioning to lift the automatic stay if warranted
- Representing my clients during bankruptcy 341 creditors’ meetings
- Obtaining judgments and attaching liens to real estate, personal property and business property prior to bankruptcy
- Garnishing wages
- Executing on assets
- Other strategies to enforce contracts