KatzLaw is a one-stop shop for creditors dealing with individuals, or businesses, who have filed a bankruptcy for the purpose of delaying or eliminating their debt payments. It is extremely frustrating for a creditor to learn that an indebted individual or business has filed for bankruptcy. While secured creditors have more protection on their debts, unsecured creditors are often at risk of losing their owed payment as a result of a bankruptcy filing. While these fears are reasonable, it is essential that you retain the right attorney to protect your interests.
At KatzLaw, we are dedicated to helping creditors face debtors who have filed for bankruptcy protection. The Founder of KatzLaw, Lior Katz, has years of experience in representing secured creditors in all aspects of bankruptcy. Lior has represented creditors in thousands of cases including Chapters 7, 11, and 13. After appearing at hundreds of Court hearings, Lior is familiar with all of the judges in the Central District of California and many attorneys who represent bankruptcy debtors. This familiarity can help you achieve the best results as a creditor. Lior is also well-versed with the intricacies of institutional lenders, and the manner in which these institutions deal with bankruptcies filed by their debtors.
At KatzLaw, we have experience in all aspects of the bankruptcy process including (but not limited to):
- Motions for Relief from an Automatic Stay in all chapters;
- Objections to the Confirmation of a Chapter 13 Bankruptcy Plan;
- Motions to Dismiss;
- Representation at the 341 Meeting of Creditors and confirmation hearings;
- Filings of notices with the court, such as Notices of Payment Change and Notices of Post-Petition Fees for mortgage lenders;
- Debtor misconduct or fraud; and
- Objections to discharge.
This wide-ranging experience within all facets of the bankruptcy process can be put to work for you! Regardless of the specifics of your situation, KatzLaw can analyze the details, explain the potential outcomes, and advocate on your behalf in all bankruptcy cases, and in all chapters!
Creditor Representation in Chapter 7 Bankruptcy Cases
In Chapter 7 bankruptcy cases, the first thing that a secured creditor will often do is file a Motion for Relief from the Automatic Stay, so the creditor can proceed with foreclosure. Foreclosure will allow the lender to foreclose or repossess the collateral for the debt. In order to obtain relief from the automatic stay, more often than not, the debtor must not have any equity in the property that secures the debt (i.e., the property must be worth less than the debt owed to the creditor), and payments to the creditor must not be current. Additionally, debtors sometimes engage in bad faith for the sole purpose of frustrating the creditor’s ability to recover its collateral; for those situations, further arguments may need to be brought before the Court so “extraordinary” relief may be granted.
At KatzLaw, we are well aware of the requirements for filing Motions for Relief from the Automatic Stay, and we have the experience necessary to draft hundreds of these motions.
In addition to Motions for Relief from the Automatic Stay, an adversary proceeding is often needed to protect a creditor from elimination of its claim by way of a discharge. For example, if the debt was the result of the debtor’s fraud, false pretenses, willful, or malicious injury, the debt may be non-dischargeable. To determine whether a debt owed to you is non-dischargeable, we recommend that you contact us for a consultation or call us at (844) KATZ-LAW!
Creditor Representation in Chapter 13 Bankruptcy Cases
Chapter 13 bankruptcy cases are often filed by debtors to delay, or avoid, foreclosure and prolong the amount of time the debtor has to cure a default on a debt. Nonetheless, more often than not, debtors propose Chapter 13 repayment plans that are objectionable and unfair to creditors. In those situations, an appearance at the 341(a) Meeting of Creditors, objections to the proposed Chapter 13 Plan, and appearance at confirmation hearings are imperative in a Chapter 13 bankruptcy case. Additionally, unsecured creditors are often paid pro-rata (their share in proportion to the total pot) through the Chapter 13 bankruptcy case. Nonetheless, creditors may be able to negotiate a “set payment” rather than a pro-rata share. An attorney at KatzLaw can help with this negotiation.
In addition to the above actions that can be taken by a creditor in a Chapter 13 bankruptcy case, creditors are sometimes able to file Motion for Relief from the Automatic Stay, and Motions to Dismiss a case, if the debtor does not comply with the terms of his or her plan, and/or does not make required payments to the creditor.
Creditor Representation in Chapter 11 Bankruptcy Cases
Chapter 11 bankruptcy cases are extremely difficult to maneuver without legal experience. There are many ins-and-outs to Chapter 11 bankruptcy cases, which include complex plans of reorganization. KatzLaw is experienced in representing creditors in such cases. A majority of the work in Chapter 11 bankruptcy cases often consists of objecting to Chapter 11 Plans, fighting Motions to Value (“cramdown motions”) that can modify the amount of a creditor’s claim, and negotiating a reasonable treatment of the creditor’s claim through a Chapter 11 Plan. In order for a Chapter 11 Plan to be confirmed, the Plan must through the voting process. However, we strongly recommend that creditors consult with an attorney, such as the attorneys in KatzLaw, before voting in favor of a debtor’s Chapter 11 Plan or reorganization.