Wellington Creditor Representation Attorney
Most of the time, creditors in a bankruptcy case do not have to be represented by counsel, as many cases are fairly straightforward. However, some do become complex, and when they do, a creditor can benefit from having legal representation, especially if there is a dispute. Having a Wellington creditor representation attorney can ensure that a creditor’s rights are respected and not shunted aside during the process.
Fine Points Of Law Can Become Important
In many bankruptcies, especially individual filings under Chapter 7, the procedures are fairly simple, because most individual Chapter 7 debtors have few assets to sell in order to pay debts. If you are a creditor for someone filing under this chapter, it can very often not be worth your time to present yourself at a creditors’ meeting or file objections to discharge of your debt – but on some occasions, it can, especially if the debt is significant. Under other chapters, creditors’ rights can become even more important – but also even more unclear.
An attorney can be of great help to a creditor at multiple points during the bankruptcy process. Examples of this include:
- Objecting to discharge. A debtor may only have their case ended (receive a discharge from the bankruptcy court) if all creditor claims have been sufficiently adjudicated in the debtor’s favor. Filing an objection to discharge means that there is a claim that has not yet been handled to the satisfaction of the creditor.
- Filing proof of claims. As one might anticipate, a claim cannot be sufficiently adjudicated by the bankruptcy court without sufficient proof that it exists. An attorney understands what is necessary to appropriately demonstrate to the court that the debtor in the case does in fact owe a certain creditor.
- Requesting relief from the automatic stay. Once a bankruptcy has been filed, the automatic stay comes into effect, meaning that no creditor may continue collection efforts (with rare exceptions). In order to continue to seek collection of a debt, a creditor must successfully petition the bankruptcy court for the right to do so.
- Navigating preference lawsuits. A secured creditor may find their debt being wrongly ranked junior to another which is unsecured or has different or less collateral. Being able to successfully file suit to enforce the correct preference order can be critical.
Additionally, depending on the trustee and the specific situation, it is sometimes even possible to work with the bankruptcy trustee in order to reach a compromise regarding your rights, and an experienced attorney can help facilitate those instances. Any of these situations, among others, can make an enormous difference in your ability to collect on a debt or being forced to settle for less or for nothing.
Don’t Delay – Call Our Wellington Creditor Representation Attorneys Today
Creditors’ rights matter just as much in a bankruptcy as those of the debtor, and our business minded bankruptcy attorneys at Markarian & Hayes are ready, willing and able to defend them. Contact our offices today to enlist an experienced creditor representation attorney to fight for you. We can be reached via our website or by phone. We serve Wellington, Vero Beach, and Palm Beach Gardens.