Spencer Fane attorney Camber Jones recently published an article featured in The Missouri Banker, The Kansas Banker, and The Show-Me Banker discussing best practices for creditors as the industry is expecting a steady increase in bankruptcy filings due to the expiration of COVID-related debt relief.
Titled “The Coming Bankruptcy Wave: A Bankruptcy Overview For Creditors,” the article provides an overview of bankruptcy, common types of bankruptcy cases, and tips for handling related matters. Camber also outlined the bankruptcy filing process, including “the petition” and “the automatic stay” stages.
“Regardless of the type of case filed, creditors should protect their interests by participating meaningfully in the bankruptcy process,” Camber explained. “This participation should include communicating early and often with the debtor and other parties-in-interest, promptly filing a proof of claim, carefully reviewing a debtor’s proposed treatment of claims, and exercising the right to vote or object to a debtor’s proposed bankruptcy plan when appropriate.”