Working With Secured Creditors During Chapter 11
Not all creditors are treated the same during a Chapter 11 bankruptcy filing. Secured creditors, those with collateral behind the debts they are owed, have the highest priority during bankruptcy. Negotiating payment and navigating the complexities of Chapter 11 can be extremely difficult without the advice and guidance of an experienced attorney.
At the Law Office of Ronald V. De Caprio, we put decades of experience to work for our business clients. Over the years, our negotiating skills and legal knowledge have been fine-tuned. We work with secured creditors to come to mutually beneficial arrangements for all involved parties.
Secured Debt And Liens
Most businesses have a fair amount of secured debt, including mortgages and other loans backed by assets. When secured creditors are not paid on time, they can make a legal claim to the property in the form of a lien. During Chapter 11 bankruptcy, secured creditors will attempt to recover the money they are owed. While the bankruptcy trustee will oversee payments to creditors according to the absolute priority rule, it may be possible to remove some liens on secured debt during Chapter 11 with assistance from our skilled attorneys.
Our law firm adheres to the highest standards of ethics and professionalism, always taking the time to inform our clients of their rights and options.
Please feel free to call (845) 406-4201 or contact us online to schedule an appointment to discuss working with secured creditors during Chapter 11 with our experienced bankruptcy lawyers in Rockland County, New York.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.