Consumer Bankruptcy Services
When a consumer loan goes into default – and the borrower files for bankruptcy – lenders should take immediate action to protect their rights and their collateral within the bankruptcy.
Strategic guidance and decisive action to protect lenders' rights when a borrower enters bankruptcy.
When a consumer loan goes into default – and the borrower files for bankruptcy – lenders should take immediate action to protect their rights and their collateral within the bankruptcy. There are several paths a consumer bankruptcy case can take, which can become difficult to manage without strict attention to The Bankruptcy Code and court deadlines. Our knowledgeable team of bankruptcy attorneys will counsel you on your options, while looking after your interests and protecting your image within the communities you serve.
Our Services Include
Proof of Claim Filing and Maintenance
Filing deadlines are strict and must adhere to the official forms of the court. Failure to timely file a claim (or filing inaccurately) may invalidate your claim. Weltman can also monitor the case for payments, can file transfers of claim, change of address and notices of payment change.
Motions for Relief from the Automatic Stay
If a debtor fails to make payments or if there is a lack of adequate protection, we will file a motion for relief on your behalf, which allows you to recover and sell your collateral or forces a cure of arrears by the borrower.
Reaffirmation Agreements
These agreements allow your debt to survive the bankruptcy discharge by re-establishing a payment schedule that continues even after the bankruptcy is over. We’ll help you assess each borrower’s situation to determine your optimal approach and will solicit and file Reaffirmation Agreements on your behalf.
Plan Review & Objection
Whether your claim is secured by collateral, wholly unsecured or based on a lease, we will carefully review the proposed plan treatment and evaluate whether your rights are thoroughly protected. If the situation warrants, we will file a timely objection to the plan and/or attend a confirmation hearing to present our opposition to the court.
