Skilled Bankruptcy Lawyers Assert Creditors’ Rights in Las Vegas

Reputable Nevada law firm helps lenders lift automatic stays and recover consumer debt

The U.S. Bankruptcy Code provides certain protections for consumers who accrue debilitating debt. But what about creditors? Who looks out for their rights and interests? At Varricchio Law Firm, we do: we fight passionately on behalf of lenders throughout Las Vegas to recoup the payments they’re owed. We understand that recovering debt from consumers can be aggravating, especially when an automatic stay is in place. With more than 45 years of combined experience, our legal team works to uncover the best plan for helping you reclaim your assets.

Recognizing the differences between unsecured and secured debt

Since secured debt is backed by collateral, lenders can repossess property to satisfy an unpaid loan. Depending on the circumstances of your case, our firm may be able to achieve this for you by setting up a short sale or the transfer of a deed in lieu of foreclosure. If these actions fail to fulfill the debt, we can help you file a deficiency judgement against the consumer to recover the remaining balance of your loan.

Unsecured debts, on the other hand, are not backed by property that serves as collateral. This means that consumers can eliminate unsecured debt through a Chapter 7 bankruptcy proceeding. If you are an unsecured creditor, depending on your priority level, you may be able to recoup your assets from the sale of the debtor’s nonexempt property. Our firm routinely represents creditors seeking to collect many types of unsecured debt, including:

  • Medical bills
  • Personal loans
  • Tax penalties
  • Utility bills
  • Credit card charges
  • Certain attorneys’ fees
  • Court judgments
  • Business debts

Certain unsecured debts such as student loans, child support, alimony, and tax debt cannot be discharged through bankruptcy. After reviewing your case, our attorneys can determine the most viable consumer debt recovery strategy for your unique situation.

Lifting an automatic stay when you’re a creditor

As a creditor, the automatic stay is one of the most frustrating legal mechanisms you face. As soon as a debtor files for bankruptcy, this provision forces you to cease all collection attempts. However, under certain circumstances, there are ways of lifting an automatic stay:

  • Nondischargeable unsecured debt — If you are seeking to recover nondischargeable unsecured debt such as student loans, child support, or alimony, the court is likely to grant your lift request.
  • Lack of payment or collateral —You can request an automatic stay to be lifted if a consumer fails to make payments on their secured loan.
  • Insufficient protection — If you are a secured creditor, and the debtor has no insurance on the property, or if you can show that the debtor is unlikely to meet future payments, we can help you file a motion to lift the automatic stay.

While U.S. bankruptcy law awards consumers numerous rights, creditors also have options when it comes to recovering debt. Our attorneys can carefully assess your case and determine the plausibility of having an automatic stay lifted.

Contact an experienced team of creditors’ rights attorneys in Las Vegas

Varricchio Law Firm is committed to protecting the rights of Nevada lenders. Whether you need help with your retail collection efforts or lifting an automatic stay, you can trust us to stand by your side. Call 702-724-8300 or contact us online to schedule a consultation at our Las Vegas office.