In bankruptcy court, secured creditors are at the front of the line when it comes to repayment of debt. Secured creditors also have remedies outside of bankruptcy court, such as foreclosure and repossession, if the borrower defaults on the terms of the loan.
However, simply having collateral – such as a home, an automobile, a farm, or inventory – securing repayment of debt is no guarantee of actual repayment from a secured transaction. If a debtor is in bankruptcy, the process for filing a claim and ultimately receiving payment can be timely and cumbersome. Outside the bankruptcy setting, foreclosure and repossession also have their own requirements.
For these reasons, for lenders seeking to collect on a secured transaction, it is essential to obtain the services of a qualified attorney who is knowledgeable on secured transactions law. The attorneys at McCleskey, Harriger, Brazill & Graf are committed to ensuring that our clients’ assets are protected to the full extent of the law.
We are attorneys with a reputation for integrity, a commitment to excellence, and deep roots in our community, going back for generations. Our goal is to help our clients succeed and prosper, long after their dispute is resolved. By providing a full array of exceptional legal services to the businesses and individuals who make our community strong, we’re helping to ensure that West Texas and New Mexico remain great places to call home.
Contact us to learn more about our secured transactions attorneys.