Collection Agencies Creditors Secured Creditor 
Hudson Weir
MARCH 19, 2025
If your business is struggling to pay its debts when they fall due, its important to keep in mind what are creditors rights during insolvency proceedings? As a director of an insolvent company, your overriding duty moves from maximising profits for the owners to preventing further losses, with creditors repayments in mind.
Taurus Collect
DECEMBER 29, 2022
Under the law, creditors cannot communicate with the debtor if they have filed for bankruptcy. Instead, you can hire an experienced debt collection agency to discuss how to take the case further. . If that is the case, it becomes impossible for them to pay back all their creditors. Do the math.
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Debt RR
APRIL 22, 2021
Even in a best-case scenario — as a secured creditor — you could be waiting up to six years to receive payment. Make sure you alert any collection agencies you work with about the situation and advise them to stop making collection demands. Put a halt to any collection efforts while marking the account as bankrupt.
Sawin & Shea
NOVEMBER 15, 2023
If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. They may use collection agencies , or they may sue you (asking the court to garnish wages, take an asset, or put a lien on your home).
Collection Industry News
DECEMBER 21, 2020
In response, the debtor filed for Chapter 13 bankruptcy, designating the HOA as a secured creditor, and confirming he would pay the debt’s total arrears through his proposed plan and ongoing dues directly to the HOA. The law firm filed a separate proof of claim for the HOA, and the debtor’s Chapter 13 plan was eventually confirmed.
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