May 15, 2020
If you are a creditor in a Chapter 11 bankruptcy case filed in Central District of California, Eastern District of California, Southern District of California, or Northern District of California, you may need legal representation. An experienced creditor bankruptcy attorney will assist in making sure that your rights are protected in the bankruptcy filed by the Debtor. While many other attorneys advertise that they represent creditors, our attorneys have significant experience in representing mortgage lenders, mortgage servicers, foreclosure trustees, Judgment holders, landlords, and small business owners in bankruptcy.
Creditor Representation in Filing Proof Claim
In every chapter 11 case that is filed, creditors are given the opportunity to file a Proof of Claim prior to a deadline that is set by the Court. The Proof of Claim is a document (supplemented by evidence) which provides the Court, other creditors, and the debtor with information as to what is owed to that creditor. Properly and accurately filing a Proof of Claim is extremely important, since the failure to do so can be highly prejudice the creditor. That is why we recommend that Chapter 11 bankruptcy be retained to file a Proof of Claim in a Chapter 11 case.
Creditor Representation in Filing Motion for Relief from Stay in Chapter 11
A Motion for Relief from the Automatic Stay is a motion filed by a creditor in a Chapter 11 bankruptcy whereby the creditor is asking the bankruptcy Court to give that creditor authorization to proceed with some action against a security of a creditor. For example, if a debtor does not make his/her mortgage payments, the creditor can file a Motion for Relief from the Automatic Stay in a Chapter 11 before the creditor can proceed with foreclosure of the home. The Creditor cannot take any actions to recover the collateral absent the authorization of the Court. The same is true with cars. Additionally, landlords who are in the middle of eviction may be faced with a tenant who filed a bankruptcy. Those landlords will need to file a Motion for Relief from the Automatic Stay in the Chapter 11 bankruptcy before the eviction can resume.
Contact our qualified attorneys at Katz Law now! There are many intricacies and loops that you have to get through before one of these Motions is granted. For that reason, it is important that you hire a qualified bankruptcy attorney that will assist with the process.
Creditor Representation in Objection to Chapter 11 Plan
As part of any Chapter 11 case, the debtor will propose a Chapter 11 Plan where the debtor will indicate how he/she/it intends to treat each and every “class” of creditors. What’s important to know is that not every Chapter 11 Plan is acceptable to a creditor, as Chapter 11 Plans can significantly harm or modify the claim of a creditor. For this reason, it is important that the Chapter 11 plans proposed by a debtor be carefully analyzed and read. If the treatment is not in line with what is allowed under the law, then a creditor has a right to object to the Plan. The failure to object to a plan can cause significant issues to a creditor. As such, it would certainly benefit a creditor to hire a Chapter 11 bankruptcy creditor attorney.
Consult With A Qualified Chapter 11 Creditor Bankruptcy Attorney Now!
If you are a creditor looking for help with a bankruptcy case, contact our qualified attorneys at Katz Law now! We are California creditor bankruptcy attorneys located in Los Angeles who have handled thousands of bankruptcy cases on behalf of creditors.