How Does Bankruptcy Effect Creditors?

Bankruptcy Solicitors Brisbane

Consult one of our bankruptcy solicitors in Brisbane

Secured creditors retain their right to exercise securities over assets, however any shortfalls which may arise as a result from securities not satisfying the full debts, the creditor may then file a proof of debt to give them an opportunity to receive a dividend in the bankruptcy in place of the shortfall. To help you with the process talk to our bankruptcy solicitors in Brisbane.

All unsecured creditors will exchange their right to pursue arrears for their appropriate and proportionate dividend in the bankruptcy. They cannot pursue any shortfalls in which their dividend fails to satisfy balance of arrears. Hire our bankruptcy solicitors based in Brisbane today!