When someone owes money to you and goes into bankruptcy, what can you do?

How do you protect your interests?

Can you get them to retain your debt after bankruptcy through a reaffirmation agreement? Is there any basis to file a complaint to determine dischargeability?

Do they have insurance on their vehicle or home?

Have you filed the proper claim to protect the value of your debt?

There are many considerations that have to be examined. In certain situations you will be allowed to pursue your collateral even while the debtor is in bankruptcy.

However, the penalties for violating the automatic bankruptcy stay are significant. You have to proceed quickly, but cautiously so that your interests are preserved.