Business and consumer bankruptcy filings in Florida increased in 2016 and are on the rise again in 2017 after declining for several years due to the improving state economy. This means that if you are owed money by a business or by a consumer borrower then there is an increased chance that you might receive a Suggestion of Bankruptcy or Notice of Commencement of Bankruptcy Case advising you that a case has been filed. The first question that a Creditor who receives a bankruptcy notification will often ask is “What do I do now?”.
The attorneys at Wetherington Hamilton are here to guide you, as a Creditor, through the complex bankruptcy process. We have experience in handling all types of cases from a Creditor’s perspective including consumer and business Chapter 7, Chapter 11 and Chapter 13 filings.
Attorney Brad Hissing in particular has over 26 years of experience in representing creditors and trustees in bankruptcy cases. His experience includes litigation in adversary proceedings, which are formal lawsuits filed in a pending bankruptcy case where a Creditor may be the Plaintiff seeking to deny a Debtor’s discharge of a debt or seeking other affirmative relief in the bankruptcy case. Attorney Hissing’s experience also includes representation of Creditors when they are the Defendants in such lawsuits and the targets of actions seeking to avoid or undo transfers of money or property made by the bankruptcy debtor prior to the filing of the case. These avoidance actions seek to recover alleged preferential or fraudulent transfers by the debtor to creditors and others and frequently arise in Chapter 7 cases as well as Chapter 11 cases.
Attorney Hissing also has significant experience in representing Creditors in regards to seeking relief from the automatic stay that arises when a bankruptcy case is filed. The automatic stay prevents creditors in most instances from taking action to collect a debt or recover secured collateral and as its name indicates, the stay of collection action arises automatically upon the filing of the case. A secured Creditor will often seek relief from the automatic stay so that it has Court authority to recover its secured collateral from the debtor or obtain a Court order requiring the debtor to make payments on the collateral after the case is filed and insure the collateral against loss.
Bankruptcy law is often counterintuitive and complicated and certainly different from how things work in the “real world”. Rest assured, the attorneys at Wetherington Hamilton can demystify this process and guide you through the legal elements of your particular case.