There’s so much you need to know when you’re filing for bankruptcy in the state of Georgia. This is especially true for bankruptcy adversary proceedings. What are these proceedings and how do they relate to your case? The bankruptcy lawyers at the Law Office of Tipton-Downie can help you understand. Here are a few important facts about these proceedings and how they can affect bankruptcy cases:
Let’s start by defining this part of the bankruptcy process. Bankruptcy adversary proceedings deal with bankruptcy lawsuits that involve conflicting claims. They most often stem from disputes between creditors and the debtor making the claim.
These proceedings usually arise when a creditor determines that the debt in question shouldn’t be erased in a bankruptcy case. Usually creditors make this type of claim when they suspect a fraudulent transfer from the debtor. This could occur when a debtor transfers assets to a third party in order to prevent the creditor from accessing them to satisfy claims.
Should you be concerned? You should always be honest with your bankruptcy lawyer about your debts, assets, and anything you’ve done regarding your financial matters. Being prepared is critical to the success of your claim.
Do you want to learn more about bankruptcy adversary proceedings in Georgia or the steps to filing bankruptcy? Call the Law Office of Tipton-Downie to talk to one of our bankruptcy lawyers in Vidalia, GA.