CREDITORS ONLY
Our firm concentrates a significant area of area practice to Debtor/Creditor relations. We routinely assist a number of creditors in collection of debts. Because one of our firm’s concentrations is bankruptcy related, we are very familiar in collecting debts and providing representation to creditors in bankruptcy.
We routinely represent creditors in Chapter 7, Chapter 13 and Chapter 11 case. Our services may include the following:
- Obtaining Relief from the Automatic Stay
- Objections to Discharge
- Objections to Chapter 11 and 13 Plans
- Objections to Plan treatment
- Motions for Adequate Protection
- Filing Proofs of Claim
Types of Creditors
There are generally three types of creditors:
- Those who have liens against pieces of property. These creditors own secured debt.
- A priority interest creditor: A creditor with a priority interest is a priority that arises through statutory law. These debts are paid before other debts. The federal government is generally considered a priority creditor.
- Other creditors: Creditors who own debt that is not secured or is not a priority. Credit card companies and medical bills generally fall into this category.
Creditors must abide by judicial and statutory processes when trying to satisfy debts.
Creditors must follow rules when collecting debt by any of the methods listed below under the Fair Debt Collections Practices Act. An experienced Western Kentucky bankruptcy lawyer can advise creditors of their rights should they find themselves in need of assistance in collection. Collection of a debt can be done in a number of ways including:
- Attachment: The creditor may have the right to seize property to satisfy a debt
- Garnishment: The creditor collects part of a debt via wage garnishment.
- Replevin: Allows a creditor to seize goods such as security interest, if the creditor has a property interest in the goods.
- Receivership: A third party is appointed by the court to dispose of a debtor’s property to satisfy a debt.
If you are in need of assistance in collecting a debt or representation in bankruptcy, contact Stout Farmer & King, PLLC.
Assisting clients in Western Kentucky, including in Graves County, McCracken County, Calloway county, Carlisle County, Livingston County, Lyon County, Caldwell County, Ballard County, Marshall County, Fulton County, Hickman County, Crittenden County, Christian County, Trigg County, Murray, Mayfield, Benton, Princeton, Smithland, Grand Rivers, Wingo, Clinton, Hickman, Fulton, Eddyville, Marion, Cadiz and Hopkinsville.
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