CREDITOR RIGHTS ATTORNEYS

The Solomon Law Group, P.A. represents creditors, lenders, financial institutions, landlords, businesses, and other parties seeking to protect or enforce financial rights in bankruptcy and collection matters. Our bankruptcy practice is limited to creditor representation and does not include representation of homeowners, consumers, or debtors.

When a borrower, customer, tenant, guarantor, or other obligor files for bankruptcy, creditors must act carefully. A bankruptcy filing may affect collection lawsuits, foreclosure proceedings, enforcement of judgments, access to collateral, commercial leases, guarantees, and other contractual rights.

Our attorneys assist creditors in evaluating their claims, complying with bankruptcy restrictions, preserving available remedies, and determining whether further participation in the case is economically appropriate.

CREDITOR REPRESENTATION IN BANKRUPTCY

We represent creditors in appropriate Chapter 7, Chapter 11, and Chapter 13 bankruptcy matters.

Our services may include:

• Reviewing bankruptcy petitions, schedules, and notices
• Evaluating secured and unsecured claims
• Filing proofs of claim
• Reviewing proposed repayment or reorganization plans
• Seeking relief from the automatic stay
• Protecting mortgage, lien, and collateral rights
• Addressing commercial leases and contracts
• Responding to claim objections
• Evaluating discharge and dischargeability issues
• Negotiating settlements, workouts, and payment arrangements
• Reviewing proposed sales of collateral or other assets
• Evaluating claims against guarantors and other nondebtor parties

The appropriate strategy depends on the type of bankruptcy, amount owed, available collateral, lien priority, governing documents, likely recovery, and anticipated legal expense.

THE AUTOMATIC STAY

The filing of a bankruptcy petition generally creates an automatic stay that restricts many collection and enforcement activities.

The automatic stay may affect:

• Collection letters and demands
• Pending lawsuits
• Garnishments
• Foreclosure proceedings
• Repossession
• Eviction proceedings
• Judgment enforcement
• Contact with the debtor
• Enforcement against collateral

A creditor should obtain legal advice before continuing collection activity after receiving notice of a bankruptcy filing. Violating the automatic stay may result in sanctions and other legal consequences.

PROOFS OF CLAIM

A proof of claim identifies the amount and nature of a creditor’s claim against the bankruptcy estate. Filing deadlines may be strict, and a failure to submit a timely and properly supported claim may affect the creditor’s right to receive payment.

A proof of claim may require documentation such as:

• Contracts
• Promissory notes
• Mortgages
• Security agreements
• Guarantees
• Leases
• Invoices
• Account statements
• Payment histories
• Judgments
• Evidence of liens or collateral

Accurate records are important when establishing the amount, priority, and secured or unsecured status of a claim.

SECURED CREDITORS AND RELIEF FROM STAY

A secured creditor may have rights in real estate, vehicles, equipment, accounts, inventory, or other collateral. Bankruptcy may delay enforcement, but it does not automatically eliminate a properly perfected lien.

When appropriate, a creditor may seek relief from the automatic stay to continue foreclosure, repossession, eviction, litigation, or another enforcement proceeding.

Relief may be available when:

• Required payments are not being made
• Collateral is declining in value
• Insurance has lapsed
• The creditor lacks adequate protection
• The debtor lacks equity in the property
• The property is not necessary to an effective reorganization
• Other legal cause exists

Whether relief is available depends on the facts and applicable bankruptcy law.

COMMERCIAL LANDLORDS AND BANKRUPTCY

A commercial tenant’s bankruptcy may affect unpaid rent, possession of the premises, security deposits, eviction proceedings, lease defaults, and claims against guarantors.

We assist commercial landlords with issues involving:

• The automatic stay
• Post-bankruptcy rent
• Assumption or rejection of a lease
• Cure of defaults
• Assignment of a lease
• Claims for unpaid rent or rejection damages
• Relief from stay
• Recovery of the premises
• Enforcement against guarantors when permitted

A landlord should obtain advice before taking possession, applying a security deposit, disposing of tenant property, or continuing an eviction after a bankruptcy filing.

DISCHARGE AND DISCHARGEABILITY

A bankruptcy discharge may restrict future efforts to collect certain debts as personal liabilities of the debtor. Some debts may be excepted from discharge under limited circumstances established by federal law.

Potential dischargeability issues may involve debts arising from:

• Fraud or false representations
• Fiduciary misconduct
• Willful and malicious injury
• Certain other claims recognized by bankruptcy law

Strict deadlines may apply. A creditor who believes a debt may not be dischargeable should seek legal advice promptly.

PREFERENCE AND AVOIDANCE CLAIMS

A bankruptcy trustee or debtor may seek to recover certain payments or transfers made before the bankruptcy filing.

A creditor receiving a preference demand may have defenses based on:

• Ordinary-course payments
• Contemporaneous exchanges
• Subsequent new value
• Secured status
• Timing of the payment
• Other statutory exceptions

We review the transaction history and supporting records to evaluate the claim and available defenses.

NON-BANKRUPTCY COMMERCIAL COLLECTIONS

The Solomon Law Group also represents businesses and creditors in appropriate non-bankruptcy commercial collection matters.

These matters may involve:

• Accounts receivable
• Unpaid invoices
• Promissory notes
• Commercial loans
• Personal and business guarantees
• Commercial lease obligations
• Contract balances
• Settlement defaults
• Secured obligations
• Judgments

Our attorneys review the documents, payment history, potential defenses, available collateral, guarantor liability, and likelihood of collection before recommending a course of action.

COLLECTION LITIGATION AND JUDGMENT ENFORCEMENT

When voluntary payment cannot be obtained, a creditor may consider filing a lawsuit or enforcing an existing judgment.

Available procedures may include:

• Breach of contract claims
• Actions on promissory notes or guarantees
• Commercial lease claims
• Garnishment
• Judgment liens
• Discovery in aid of execution
• Levy and execution
• Proceedings supplementary
• Negotiated judgment settlements

The existence of a valid debt does not necessarily mean that litigation will produce a practical recovery. Collectability and enforcement costs should be evaluated before substantial resources are committed.

SPEAK WITH A TAMPA CREDITOR RIGHTS ATTORNEY

Creditors who receive notice of a bankruptcy filing should review it promptly. Deadlines may apply to proofs of claim, plan objections, dischargeability proceedings, asset sales, and other creditor remedies.

To discuss a creditor claim, bankruptcy notice, automatic-stay issue, commercial collection matter, judgment, guarantee, mortgage, lease, or secured obligation, contact The Solomon Law Group, P.A.

CALL OUR OFFICE AT (813) 225-1818

The information provided on this website is for general informational purposes and is not legal advice. Contacting The Solomon Law Group does not create an attorney-client relationship. Please do not send confidential or time-sensitive information until the firm has confirmed that it will represent you. Representation is undertaken only through a written agreement. The outcome of every legal matter depends on its particular facts and applicable law, and no result is guaranteed.