Pursuant to 11 U.S.C. ยง528(a)(4) we are required to state the following:We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.


Creditors’ Rights

When creditors get a bankruptcy notice, they assume they have neither rights nor alternatives with respect to their claims against the debtor. This is not necessarily so.

Creditors in bankruptcy are entitled to share in any distribution from the bankruptcy estate according to whether the claim is secured by collateral or the priority of their unsecured claim as well as be heard by the court in matters concerning the debtor’s plan, the liquidation of the debtor’s non exempt assets, and payments from the assets of the estate.

Creditors may also challenge an individual debtor’s right to a discharge or to discharge the creditor’s particular debt. If you have a valid lien that has been perfected by filing with either the Secretary of State or County Clerk, federal law protects the value of your lien and prevents the party in bankruptcy from harming the value of your collateral.

As with many things related to the Law, time is of the essence. As a creditor, if you know about the bankruptcy case, even informally, you must act to preserve your rights. Most courts hold that if you have actual knowledge of the case, however obtained, you are bound by the filing deadlines for objections to dischargeability and for filing claims. As soon as you learn about a bankruptcy affecting you, for guidance and representation, you should contact a quality Bankruptcy Attorney to learn about your Creditors’ Rights.

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