Bankruptcy is a difficult time for all parties. It may involve companies, institutions, individuals, ongoing relationships, contracts, creditors, vendors, the IRS, and even families and friends.
Mediation helps manage the bankruptcy process more effectively. We mediate collectively for the all of the parties involved in the bankruptcy and the creditors. The primary interest of the party declaring bankruptcy is for earlier and more expedient discharges. For creditors, the primary goal is the early settlement and repayment of their debts and a plan for action to accomplish these goals. Education and understanding are critical components that enhance the outcome of the process for all parties. Our mediation services can provide these components for fast and efficient resolution.
Recognizing that mediation has always played a central role in our administration of debt settlement proposals, Alternative Law provides a wide range of mediation services to bankrupts and their creditors through our Bankruptcy Mediation Unit.
We established this unit to help to resolve disputes between bankrupts and their creditors as quickly and as efficiently as possible. We try to encourage mediation prior to the order of bankruptcy to prepare and educate all parties for this process. The unit maintains a panel of mediators who will assist the parties to reach mutually acceptable resolutions for their disputes through mediation. Through the unit’s assistance, both the bankrupt party and creditors will be better served as clients.
The unit provides mediation services to:
- Identify and clarify the issues for each party
- Set realistic goals to be accomplished in a systematic manner
- Resolve the amount of debt owed by the bankrupt party to their creditors
- Negotiate debt settlement proposals between the bankrupt party and their creditors
- Determine an attainable plan from a neutral perspective to address and to resolve differences between business corporations, business associates, and family members