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? asked in Business & FinancePersonal Finance · 3 years ago

Bankruptcy Court ?

What happens if you’re a insecure creditor in a bankruptcy case and the judge approves your claim? How long it takes for payment to be reached to you ?

2 Answers

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  • Anonymous
    3 years ago

    Good luck collecting even if your claim is approved through the court. I owned a piece of property that a young couple was buying from me by land contract with it stated that they owed and would pay the RE taxes. They never paid a penny of the taxes and stopped making payments to me when they filed bankruptcy. The court decree was that the land stayed mine and that they would have to pay the back real estate taxes. (A huge amount by that time!) They never paid them and I couldn't afford to hire an attorney to take them to court. Then they divorced and disappeared. In the end the taxes exceeded the value of the land (I refused to pay) so the county took it.

    You may or may not ever see payment-it all depends on whether or not they want to pay, or if you can afford an attorney to go after them The court washes it's hands of the whole matter and you cannot even file charges!

  • 3 years ago

    What exactly is an insecure creditor

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