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Recent Amendments Place Creditors in a Stronger Position to Defend Against Chapter 11 Bankruptcy Preference Lawsuits

Fraser

Fortunately, the Bankruptcy Code provides creditors with certain defenses they can use to ward off a preference lawsuit, and Congress recently took action that strengthens those defenses. In reality, all kinds of creditors, including those who have valid defenses to preference claims, typically get sued regardless of their defenses.

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As Chapter 11 Bankruptcy Filings Surge, Here’s What Creditors Need to Know to Protect and Enforce Their Rights

Fraser

Creditors of a bankrupt company must be aware of the various deadlines and procedures that govern the chapter 11 process in order to protect and enforce their rights. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding. First Day” Motions. Proof-of-Claim Bar Date.

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4 consumer myths about debt collections DEBUNKED

American Profit Recovery

There has been a long-standing myth about collections that states when you are contacted by an agency, they will always demand full payment. Payment plans allow the consumer to get on with their lives and even continue to do business with the creditor that has not been paid. Collection agencies always demand full payment-FALSE.

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What Happens If I Get a Job After Filing Chapter 7?

Sawin & Shea

You can get a free consultation by contacting us online or calling us at (317) 759-1483 , and we’ll review your personal situation. This form of bankruptcy differs from Chapter 13, which involves the evaluation of your current income to construct a three-to-five-year debt reorganization plan. What Is Chapter 7 Bankruptcy?

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Unsecured And Secured Loans: What If A Company Can’t Repay?

Hudson Weir

Company assets could include anything from equipment and constructions to vehicles and intellectual property. Once a business is insolvent, directors’ duty must shift towards the company creditors – that includes any providers of unsecured or secured loans. What is a secured loan? Therefore, secured loans tend to be for larger amounts.

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Getting Your AR Back to “Normal”

Receivables Control

The construction industry is like the real estate market, yet the cost of supplies has increased greatly, fueling higher construction costs. We recommend: Contact and communication are the key. We have the time and resources to find the right contacts and increase your chances of getting paid. Have other creditors sued?

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Filing a Proof of Claim in Bankruptcy: What You Need to Know

Fraser

A creditor with a claim must often take affirmative action by filing a “proof of claim” form in order to preserve and protect its rights to payment. Even when a claim is scheduled, and assuming there are no reasons not to (see below), a creditor may choose to file a claim to guard against a debtor modifying or removing its scheduled claim.