Creditor Rights in Bankruptcy
Julianne Frank, Esq. is prepared to protect your rights and represent your
interests throughout the course of a bankruptcy proceeding. She’ll
make sure your proof of claim is timely and properly filed. She’ll
monitor the progress of the case on your behalf and represent you in any
related matter, including a section 363 sale of distressed company assets,
and much more.
Below are just some of the chief areas of creditor representation in bankruptcy
Julianne Frank, Esq.
In most bankruptcy cases, as soon as the case is filed, an injunction is
imposed against creditors, preventing them from starting or continuing
an action against a debtor or the debtor’s property. This injunction
is known as the “automatic stay,” and it is a powerful and
effective tool for the debtor. However, as a creditor, it is important
to know that it is possible to obtain relief from the automatic stay,
enabling you to begin or resume collection activities. This process involves
properly filing and serving a Motion for Relief from Automatic Stay, and
having that motion granted by the bankruptcy judge. Julianne Frank, Esq.
can prepare a motion for relief and effectively argue that motion before
the bankruptcy judge to help you in your collection efforts.
A required step in any Chapter 7, Chapter 11, Chapter 12, or Chapter 13
bankruptcy is the Meeting of Creditors, also known as a Section 341 Meeting
after its section in the bankruptcy code. This meeting is conducted by
the bankruptcy trustee, and the debtor is required to be present. Creditors,
however, are not required to attend the meeting, and most often do not.
However, as a creditor you do have a right to attend this meeting and
ask questions of the debtor, such as questions about the debtor’s
income, assets, and debt, or questions about property which may be underlying
a secured debt. It may be advantageous to you as a creditor to attend
this meeting. Julianne Frank, Esq. will discuss with you whether or not
to attend this meeting and can represent your interests and examine the
debtor on your behalf.
Once a payment plan is approved in a Chapter 13 individual bankruptcy,
creditors are required to submit to the terms of the plan regarding repayment
of their debt. Julianne Frank, Esq. can represent your interests in this
process and make sure you have a voice in the development of a plan. If
a proposed plan would unduly harm your interests, she’ll lodge a
timely and proper objection to the plan as authorized under the bankruptcy code.
In the event you dispute the ability to discharge a debt, Julianne Frank,
Esq. can represent you in any bankruptcy litigation to protect your interests,
including litigating preferences, avoidance claims, equitable subordination,
fraudulent transfers, and more.