What is a creditor? Creditors are people (or some entities) that have a right to payment or other remedy against/from the debtor who is the subject of the bankruptcy filing. Your options as a creditor depend on which bankruptcy chapter was filed, how your claim arose, and what is going on in the bankruptcy case.
Creditors in bankruptcy are entitled to be heard by the court in matters concerning the debtor’s plan (in chapters 11, 12, and 13), the liquidation of the debtor’s non exempt assets, and payments from the assets of the estate.
Cease Collection Efforts
The Automatic Stay prohibits creditors from doing anything to collect their debts against either the debtor or property of the estate. Thus a creditor must immediately cease collection efforts, including telephone calls, billing or law suits that might be pending against the debtor. If you are a secured creditor on a delinquent loan, you may be able to get an order of the Court allowing you to obtain the property. This depends in large part on the kind of bankruptcy that is pending and the amount of equity in the property.
If you need to stop creditors from harassing you, call the Frank Heston Law Firm today at 954-755-7800