With extensive experience in judgment collections and bankruptcy cases, we can help you understand your options and guide you through the process of recovering what you’re owed, even when bankruptcy complicates matters.
How Bankruptcy Impacts Judgment Collections in Georgia
When a debtor files for bankruptcy, it significantly impacts your ability to collect on a judgment.
The most immediate effect is the automatic stay, which puts an immediate halt to all collection efforts.
This stay prevents creditors from garnishing wages, placing liens on property, or seizing assets while the bankruptcy case is being processed.
However, not all is lost for creditors. Depending on the type of bankruptcy and the nature of your judgment, you may still have options for recovering what you’re owed.
The Role of the Wilbanks Law Firm in Protecting Your Rights
The Wilbanks Law Firm understands the nuances of bankruptcy law and how it intersects with judgment collections.
Our team can help you navigate the complex rules surrounding the automatic stay, ensuring you don’t violate bankruptcy law while still working to protect your rights as a creditor.
We will explore every avenue, from filing motions to lift the stay to investigating hidden assets that may still be collectible.
How Do the Types of Bankruptcy Affect Judgment Collections?
Bankruptcy filings come in different forms, each impacting judgment collections in specific ways.
The most common bankruptcy filings you’ll encounter are Chapter 7, Chapter 13, and Chapter 11.
Each of these presents unique challenges for creditors, but with the right legal approach, you can maximize your chances of collecting on your judgment.
Chapter 7 Bankruptcy: Liquidation and Its Impact
In a Chapter 7 bankruptcy, the debtor’s assets are liquidated to pay off as many creditors as possible.
While this sounds like good news for creditors, many assets are exempt from liquidation under Georgia law.
For example, retirement accounts and a portion of the debtor’s home equity may be protected.
The Wilbanks Law Firm can help you identify non-exempt assets that may be subject to liquidation, increasing your chances of recovery.
Additionally, some debts, such as judgments resulting from fraud, are non-dischargeable in Chapter 7.
We will work with you to determine if your judgment qualifies as non-dischargeable, ensuring that the debtor remains responsible for paying even after bankruptcy proceedings.
Chapter 13 Bankruptcy: Reorganization and Repayment Plans
Chapter 13 bankruptcy allows debtors to reorganize their debts and create a repayment plan.
Creditors can still receive payment, but it will be distributed over time as part of the debtor’s court-approved plan.
The Wilbanks Law Firm can assist you in understanding your rights in this process, ensuring that your judgment is prioritized in the debtor’s repayment plan.
We’ll help you negotiate terms that benefit you, whether through payment plans or enforcing your judgment once the debtor’s bankruptcy is completed.
Chapter 11 Bankruptcy: Business Reorganization
If your debtor is a business, they may file for Chapter 11 bankruptcy, allowing them to restructure their debts while continuing operations.
The complexity of Chapter 11 cases makes it crucial to have experienced legal representation.
Attorney Dylan Wilbanks and his team have the skills necessary to navigate these intricate cases, ensuring that your judgment is addressed during the restructuring process.
How Do I Protect My Rights as a Creditor During Bankruptcy?
When bankruptcy is filed, creditors have specific rights that should not be ignored.
While the automatic stay temporarily halts your collection efforts, there are legal strategies that can still allow you to protect your interests.
What You Can Do as a Creditor During Bankruptcy
The automatic stay does not mean you have to sit idly by. Depending on your judgment, you may be able to file a motion to lift the stay, allowing you to continue pursuing certain assets.
Additionally, if your judgment is based on fraudulent actions by the debtor, you may be able to object to the discharge of the debt.
The Wilbanks Law Firm can guide you through these steps, ensuring that your rights are protected and you remain proactive during the bankruptcy process.
Non-Dischargeable Judgments: What Can Still Be Collected
Some types of debts are considered non-dischargeable in bankruptcy, meaning that the debtor remains responsible for them even after completing the bankruptcy process.
These include debts related to fraud, willful or malicious injury, or certain types of contractual obligations.
We can review your case and determine if your judgment qualifies as non-dischargeable, allowing you to continue collection efforts once the bankruptcy case concludes.
Methods for Collecting a Judgment After Bankruptcy
Once a debtor’s bankruptcy case is over, you may still have opportunities to collect your judgment.
The Wilbanks Law Firm can help you navigate this process, identifying and pursuing any non-exempt assets that the debtor retains after bankruptcy.
You Can Search For Hidden Assets
Debtors often attempt to hide assets during bankruptcy proceedings by transferring them to insiders such as family members or close associates.
Our firm uses advanced and ethical techniques, such as skip tracing and thorough reviews of real estate records, to uncover hidden assets.
Once we identify these assets, we can pursue legal action against both the debtor and anyone who helped them hide their property.
We Utilize Garnishments, Liens, and Payment Plans
Even after bankruptcy, some methods remain available to creditors for collecting a judgment through the bankruptcy procedure. The Wilbanks Law Firm can help navigate this process.
These options allow you to recover what you’re owed while complying with Georgia’s laws and the debtor’s financial reality.
Why You Need the Wilbanks Law Firm for Judgment Collections
Bankruptcy law is complex, and without an experienced attorney, you may find yourself losing out on the money you’re owed.
Attorney Dylan Wilbanks and his team have extensive experience in both judgment collections and bankruptcy law, ensuring that you have the best chance of recovering your judgment.
We offer a comprehensive approach, from investigating assets to filing motions that allow you to pursue your claim despite the debtor’s bankruptcy.
Frequently Asked Questions About Bankruptcy and Judgment Collections in Georgia
What happens if the debtor transfers assets before filing for bankruptcy?
If a debtor transfers assets to a third party before filing for bankruptcy, this may be considered a fraudulent transfer.
In such cases, creditors can pursue legal action to reverse the transfer and recover the assets.
The Wilbanks Law Firm can help you investigate these transactions and take the necessary legal steps to bring the assets back into consideration for your judgment collection.
Can I continue to charge interest on a judgment during bankruptcy?
Interest typically accrues on judgments until the debtor files for bankruptcy.
Once bankruptcy is filed, the automatic stay usually halts further interest accumulation.
We can help you understand whether interest can continue accruing in your case.
What happens if a bankruptcy is dismissed before completion?
If a bankruptcy case is dismissed before the debtor receives a discharge, the automatic stay is lifted, and creditors can resume collection efforts as though the bankruptcy had never been filed.
This includes pursuing garnishments, liens, or other collection methods.
The Wilbanks Law Firm can help you act quickly to restart collection activities if the bankruptcy case is dismissed.
How can I make sure my claim is prioritized in a bankruptcy repayment plan?
In a Chapter 13 bankruptcy, creditors are often paid according to the debtor’s repayment plan, which is approved by the court.
Secured creditors generally receive priority, but some unsecured creditors may also be paid if funds are available.
The Wilbanks Law Firm can work to ensure that your judgment is properly represented in the debtor’s repayment plan, maximizing your chances of being paid.
Can I challenge a debtor’s bankruptcy filing if I suspect fraud?
Yes. If you believe that the debtor has committed bankruptcy fraud, such as hiding assets or lying on their bankruptcy petition, you can challenge the bankruptcy.
This can involve filing a motion with the court or pursuing a ruling through an adversary proceeding.
The Wilbanks Law Firm can guide you through this process and help you protect your interests.
Get Help with Your Georgia Judgment Collection Today
If your debtor has filed for bankruptcy and you’re unsure how to proceed, contact the Wilbanks Law Firm today.
By working with the Wilbanks Law Firm, you’ll have a trusted partner who is committed to helping you navigate the complexities of judgment collections in Georgia, ensuring that you recover what you’re owed even in the face of bankruptcy.
Our team will work with you to create a strategy that maximizes your chances of recovery, whether through bankruptcy proceedings or post-bankruptcy collections.
Call (706) 510-0000 or fill out our contact form to get started.