DID YOU KNOW?
Unsecured creditors hold allowed claims against the debtor without the benefit of any collateral or hold collateral the value of which is less than the amount of their claims. Unsecured creditors are normally not entitled to include in their claims any interest that accrues on their claims after the date the bankruptcy petition is filed.
How do I file for Bankruptcy in Flint ,Bay City, Saginaw, Lapeer, Owosso or Burton Michigan? Call (810) 235-1970 to Flint Bankruptcy Lawyer Terry Bankert. Or through http://www.nojokebeingbroke.com
Or http://www.attorneybankert.com
Do you have Divorce or Child Custody and parenting time questions try http://www.dumpmyspouse.com
In Chapter 7, 12, and 13 cases, unsecured creditors generally file their proofs of claim and wait to receive any distributions from the Chapter 7 trustee or under the confirmed Chapter 12 or Chapter 13 plans. In Chapter 7, Chapter 12, and Chapter 13 cases, they may also file an adversary proceeding to have the debt forming the basis of their claim deemed nondischargeable. In Chapter 11 cases, unsecured creditors also file proofs of claim and may elect to serve as members of the creditors’ committee appointed by the bankruptcy court. In addition, unsecured creditors are entitled to vote on any proposed Chapter 11 plan and must receive under any confirmed plan a sum not less than what they would receive if the debtor were liquidated under Chapter 7.
In In re Valentine, 196 BR 386 (Bankr ED Mich 1996), Bankruptcy Judge Rhodes held that creditors lack standing to request the bankruptcy court to make a report to the U.S. attorney under 18 USC 3057(a). This statute permits a judge to refer a possible criminal matter involved in a bankruptcy case to the U.S. attorney.
Saturday, April 23, 2011
Sunday, September 28, 2008
Mackinac County
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