Source: Chris Potter / License Contrary to public perception, the bankruptcy process does not in fact begin with the filing of a bankruptcy petition. Before a debtor can initiate formal bankruptcy proceedings, he or she must complete an approved credit counseling briefing in order to assess his or her present financial circumstances and determine the […]

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For creditors in a Chapter 11 bankruptcy case, quick action is essential in protecting rights, asserting and monitoring claims, preventing unnecessary pitfalls, and maximizing the eventual recovery amount. These six early steps can help creditors get on the right track from the beginning of the case. Stop contact with the debtor. When a company files […]

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