Legal Question in Bankruptcy in Texas

I gave a business loan to a restaurant, secured with equipment as collateral. They were to pay off the loan monthly, and made the first month's payment. The second month's check bounced, and a week later they said they were declaring bankruptcy, and my info was given to their attorney. Do I now have to just sit and wait to be contacted? What can I do to obtain the equipment they used for securing the loan?


Asked on 2/06/13, 12:44 pm

1 Answer from Attorneys
Gary Armstrong Armstrong Kellett Bartholow P.C

You need to retain a bankruptcy attorney to file a motion for relief from stay seeking to obtain possession of the property, or payments. This is not something you can do yourself.

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Answered on 2/06/13, 2:09 pm


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