Researching Bankruptcy

For judgment creditors, debtors filing for bankruptcy is most often very bad news. If your
judgment debtor recently filed for bankruptcy, yet seems to really be wealthy, or has already
hidden some assets; sometimes it can make sense to do some more research; in case there are
certain leads showing to possible recent and current documents of the judgment debtor's actual
assets and income. asset info may be interesting to the debtor's trustee.

Chapter Seven bankruptcy is used as the example for this article. This article is my opinion and
is not, a legal opinion. I am a judgment broker, and not a lawyer. If you ever need a strategy to
use or legal advice, you should retain an attorney that is familiar with bankruptcy law.

The creditor's Rule 2004 examination could be the start to finding important additional details
concerning any available assets your judgment debtor put on their schedules, and may help you
discover undeclared or severely undervalued available assets. Everything is dependent on you
discovering the omitted available assets, and then verifying that your judgment debtor has has not
listed their assets correctly. An example might be when the debtor lists some really valuable
items getting listed as being valued at $200 under "furniture miscellaneous" on their bankruptcy
financial schedule.

If research is performed on a bankrupted debtor and their assets; the only goal is to try to
discover enough evidence showing available assets not getting documented, or getting significantly
underestimated on their bankruptcy's available assets schedules. When this kind of proof is
discovered, a judgment owner or the creditor's lawyer might bring that news to the trustee's
attention, and perhaps schedule a hearing for a motion.

Once a judgment owner recognizes their debtor lying about disclosing their available assets with
the court, a creditor's attorney might get the right to challenge any further rulings the court
issues which allows the debtor to change their schedules. 

In bankruptcy court, the playing "cards" are usually arranged in the debtor's favor. In some
cases, your debtor may choose any location in the USA to declare bankruptcy; even if just to cause
it to be harder for judgment creditors. When you want to raise your odds in bankruptcy situation,
the situation needs to be just right; and you or your lawyer need to perform a lot of work, to
attempt to move the odds toward your favor.

If it is a relatively large judgment, and there seems to be a route to certain assets; it is
usually worth performing a bit of discovery. The best results often require you to spend time
gathering and organizing whatever is already known, or can quickly discover more information about
your debtor and their assets; and (e.g.) then hiring a PI and then a lawyer.

When you've got a large judgment and some kind of trail to undisclosed available assets; you will
need information and documents that prove the assets actually should be part of their bankruptcy
estate, which most often is a benefit to all of the creditors. Think about hiring a lawyer and
also check out PACER, the unique information portal to all bankruptcy-related and federal judgment
information.

PACER's free for low volume customers, but you need to register for your online account with them.
Think about saving every important document as PDFs, and save the PDFs and at least screen shots
of the more important status result reports, in some file folder. After you register with PACER,
you can check there as often as you want. All court-related things usually progress really slowly.
----------------------------------------------------
Judgment recovery, is a collections effort, which means to collect or enforce your judgment.
Judgment buyers are available and can help with your judgment recovery efforts. Mark Shapiro of
http://www.JudgmentBuy.com - The easy, free, and best way to find the best expert to buy or
recover your judgment.

Poset by http://jrandallfrier.com/