Q & A - Bankruptcy
- QUESTION: Someone who owes me money just filed for bankruptcy. What should I do?
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QUESTION: Someone who owes me money just filed for bankruptcy. What should I do?
ANSWER: There are three things that you should do. Number one, stop all efforts to collect the debt. Bankruptcy imposes an automatic stay on creditors, and violating it can be costly. You don't have to actually see a copy of the bankruptcy filing to be bound by the stay. You can verify a filing by calling (215) 597-2244 and following the prompts. Number two, in most cases you should file a Proof of Claim. Number three, contact an attorney to discuss your claim. There are many variables to be considered, and it is impossible to give across-the-board advice without reviewing the particulars of each situation.
