Foreigners often regard U.S. bankruptcy law with awe, noting the comparative ease with which a person can wipe their financial slate clean and start afresh. But, like any privilege, the American bankruptcy process can be abused. Fillmore Spencer LLC vigilantly represents the rights of creditors in personal and business bankruptcy filings, ensuring debtors do not game the system to unfair advantage.
While Fillmore Spencer LLC helps individuals file for bankruptcy, we also represent secured and unsecured creditors and creditor committees in bankruptcy litigation related to Chapter 7, Chapter 13, Chapter 11, business workouts, reorganizations and debt restructurings.
For all bankruptcy types, we seek to discover assets, scrutinize the debtor’s claimed income and expenses, and to protect any collateral securing the creditor’s debt. Not all debts are dischargeable through bankruptcy and you may still be able to pursue the collection of certain debt after a bankruptcy filing. Fillmore Spencer LLC asserts your rights to ensure you do not become a victim of bankruptcy fraud.
Personal bankruptcies — Chapter 7 and Chapter 13 filings place an automatic stay on collection efforts, but there are circumstances where the stay can and should be appealed. For instance, a debtor may fail to report a recent personal injury award in a Chapter 7 filing, depriving creditors of assets to which they are rightly due. Fillmore Spencer LLC always vets the debtor, and, if our research finds this “omission” or a similar discrepancy, requests the bankruptcy court to lift its stay on any litigation the creditor may have had pending against the debtor.
In Chapter 13 filings, Fillmore Spencer LLC represents creditors by filing a proof of claim and attending the 341 meeting. Again, we may file a motion for relief from the automatic stay in order to repossess some collateral.
Business bankruptcies — We represent secured and unsecured creditors, committees, shareholders, asset purchasers, lenders, and trustees and examiners in all aspects of Chapter 11 business reorganization filings, in several ways:
Business workouts — We represent creditors in negotiated workouts, receiverships, assignments for the benefit of creditors, and other nonbankruptcy insolvency proceedings.
We have substantial experience in obtaining bankruptcy court approval of cash collateral stipulations and adequate protection stipulations and in representing parties interested in purchasing assets from bankruptcy estates. The firm has particular expertise in confirming a creditor’s reorganization plans in Chapter 11 cases and in protecting the rights of creditors in negotiating and confirming debtor’s plans–both Chapter 11 and Chapter 13.
Early and effective legal representation often makes a difference in recovery of a creditor’s funds or property, so if someone is trying to give you or your business the slip through bankruptcy, contact Fillmore Spencer LLC at (801) 426-8200 or contact us online.