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Creditors Rights

Creditors Rights


Creditor rights laws govern situations where one party is unable to pay a monetary debt to another. There are generally three types of creditors.

The first type of creditor is one who acquires a lien (a legal claim) against a particular piece of property, through statute, agreement between the parties, or judicial proceedings. This property (or proceeds from its sale) must be used to satisfy the debt to the lien-holder creditor before it can be used to satisfy debts to other creditors. Once a lien has been created, numerous state and federal statutes may govern how the lien is executed against the debtor's property.div>
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A second type of creditor is one who holds a priority interest. A priority arises through statutory law. If a creditor has a priority interest, his debt must be paid ahead of other creditors if the debtor becomes insolvent.


The third type of creditor, an unsecured creditor, is the most common. An unsecured creditor holds neither a lien against the debtor's property nor a statutory priority.


Winsten Law Group has a long track record of using judicial and statutory processes to have their clients’ creditors’ rights enforced. These remedies include:


Attachment: A limited statutory remedy whereby a creditor has the property of a debtor seized to satisfy a debt. Garnishment: A remedy which allows a creditor to collect part of a debt (for example wages) to satisfy the obligation. Claim and delivery order: A remedy which may enable a creditor to satisfy the debt by seizing goods in which he or she has a property interest. Receivership: A remedy that involves the appointing of a neutral third party, by a Court, to dispose of the debtor's property in order to satisfy the debt.


Debtors often attempt to fraudulently convey a piece of property to keep it out of the creditors' hands. There are both state and federal laws that can prevent or reverse this type of property transfer.


Winsten Law Group is particularly adept at working out (negotiating), prosecuting and defending against large, complex, debt collection situations, on behalf of both individuals and business institutions.


For more information about your creditor’s rights situation, whether before or during a lawsuit, please fill out this brief form:

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