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LegalCornerTM - Creditor Rights F.A.Q.'s

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Q.What are creditors entitled to?

A.Creditors in bankruptcy are entitled to:

  1. Share in any distribution from the bankruptcy estate according to the priority of their claim. Most unsecured, non wage claims come low in the priority scheme, and may receive little or nothing.
  2. Be heard by the court in matters concerning the debtor's plan (in chapters 11, 12, and 13), the liquidation of the debtor's non exempt assets, and payments from the assets of the estate.
  3. Challenge an individual debtor's right to a discharge or to discharge the creditor's particular debt.

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