Bankruptcy

Key Benefit

• Protection of creditors' rights when a bankruptcy has been filed by the debtor.

Capabilities

The last thing a creditor wants to hear is that their debtor has filed bankruptcy. However, it is important to follow through with the legal process. Although collection from a bankrupt person is doubtful, a creditor should ensure that their claim is at least being considered in the bankruptcy. The Sigmon Law Firm sees Bankruptcy work as a continuation of a creditors' commitment to collect from a debtor.

Proof of Claim

Filing a Proof of Claim ensures that an unsecured claim will receive some payment if disbursements are made within the Bankruptcy Plan. It is necessary to file a Proof of Claim, if you wish for your claim to be considered in the bankruptcy. Any claim that is not proven to the bankruptcy trustee will not be considered.

Motion for Relief From Automatic Stay

Filing a Motion for Relief from Automatic Stay is the process by which collateral is returned to a secured creditor by order of the bankruptcy court.

Adversary Proceeding

It may be necessary to file an Adversary Proceeding in the bankruptcy to challenge the dischargability of a debt.