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Thomas M. Drinan

Associate Litigation Counsel
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Mortgage Bankers Association

Creditor Bankruptcy

Reisenfeld & Associates represents creditors in Chapter 7, 11, and 13 bankruptcy proceedings throughout the Federal Bankruptcy Courts in Ohio, Indiana, Kentucky, and West Virginia. The majority of creditor bankruptcy referrals we receive come as a result of the Debtor(s) filing bankruptcy during foreclosure proceedings. Bankruptcy may be filed as a tactic to delay a foreclosure.

If the Debtor files a Chapter 7 Bankruptcy, our Bankruptcy Department files a motion for relief from the automatic stay as soon as possible so our clients are free to continue with their state court remedies. For a Chapter 13 Bankruptcy, our attorneys review the Chapter 13 Plan to ensure our clients are treated correctly; in many cases our clients are a secured creditor with a mortgage secured by the Debtor’s primary residence.

Additionally, our Bankruptcy Department prepares and files proofs of claim on behalf of our clients. We vigorously defend against objections filed against our claims. We ensure our clients are able to collect all allowable fees, costs and arrearages contained in the proof of claim. If the Debtor falls behind on post-petition mortgage payments while in a Chapter 13, our Bankruptcy Department will file a Motion for Relief from Stay. We work closely with local Debtors’ counsel and our Clients to ensure the Debtor is able to maintain payments to our clients when we enter into an Agreed Order satisfying the arrearage. We also include termination clauses in our Agreed Orders that automatically grant our clients relief from automatic stay in case the Debtor fails to continue to make payments.

We aggressively combat multiple bankruptcy filings, or serial filers, to protect our client’s interests. When appropriate, we contest the eligibility of someone to be a debtor under the Bankruptcy Code and we challenge plans which are not filed according to the good faith requirements of the Code.

Our attorneys remain updated regarding all bankruptcy developments in all of the states we practice in as well as nationwide trends. Our knowledge, efficiency, insight and ability to predict future predicaments allow us to navigate the Bankruptcy Courts and ensure clients recover their assets in the most immediate timeframe possible.