A bankruptcy notice from a Federal Bankruptcy Court filing can be an alarming experience for any creditor or lender. Fears of expensive sanctions resulting from accidental violations of the automatic stay and questions about the future collectability on the debt owed are natural first responses to any notice from a bankruptcy court.
Berlin Patten Ebling specializes in creditor rights representation and is happy to protect the interests of its creditor and lender clients by helping them navigate through the bankruptcy process and ensuring every effort is made to enable our clients to regain access to their collateral, or in the alternative, to maximize the payment to our clients’ claims.
Bankruptcy is a fast moving process where a delay may impede a creditor’s ability to receive payment or object to its treatment in a case. For example, as of December 1, 2017, the deadline to file a proof of claim in a chapter 7 (liquidation), chapter 13 (personal reorganization), or chapter 12 (farmer) case is 70 days from the date the bankruptcy was filed. Failure to file a valid and correct proof of claim can result in a creditor not receiving the payments due to it in the bankruptcy case.
If you receive a bankruptcy notice or made aware of a possible bankruptcy on an account whether or not this account is in default, contact our office immediately to use the federal bankruptcy laws to protect your rights to your collateral and/or receive payment.
We are happy to assist mortgage servicers, banks, credit unions, auto-finance corporations, and many other companies.
Contact us to schedule a consultation in which we can answer your questions and recommend the best steps to take.