What Is Bankruptcy Mediation?
Bankruptcy mediation is a combination of two settlement-focused cultures: bankruptcy and mediation. Both promote equitable resolutions, yet, each offers its own contribution towards settlement. The bankruptcy culture places a priority on efficiency while mediation emphasizes party self-determination.
Combined, bankruptcy mediation adds value to debtors and creditors trying to resolve bankruptcy conflicts by promoting party determined efficient and equitable resolutions for qualifying debtors in financial distress and their creditors.
Although efficient resolution is an overarching purpose of bankruptcy, each type of bankruptcy is different. Chapter 7 is about liquidation, collection and distributing assets; Chapter 13 focuses on re-apportionment of debt to preserve capital; and Chapter 11 allows viable businesses and individuals quantify and consolidate debt, while preserving jobs and lives.
Mediation offers parties:
- An encouraging push
- A way to overcome impasses
- A way to help focus the parties on settling matters
- A way to help parties consider everyone’s interests, not just their own
- A way to help parties preserve their ongoing relationships
- A way to help parties deal with multiple moving parts and unravel complicated issues, and
- A way to help people reach business resolutions that are more nuanced and more creative
At FurrCohen, P.A., Robert C. Furr is a bankruptcy mediator registered with the Bankruptcy Court for the Southern District of Florida. He has completed the American Bankruptcy Institute/St. John’s University School of Law Bankruptcy Mediation Training. He mediates contested matters in bankruptcy including Plan Confirmations and Adversary Proceedings as well as State Law matters involving insolvency and fraudulent transfer.
Learn More About Your Bankruptcy Options
Talk with our highly skilled bankruptcy lawyers at FurrCohen, P.A. about how bankruptcy mediation may be used in your situation.
Please contact our Boca Raton, Fl office to speak with our bankruptcy lawyers, call 561-395-0500 or contact us online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.