Denver Auto Finance Creditor Attorney

Not everyone can navigate the complexities of the automobile finance industry. Douglas D. Koktavy, P.C., a litigation leader in the auto finance industry, champions creditor rights.

A Full-Service Firm

At Douglas D. Koktavy, P.C., our creditor rights attorney represents finance companies, national banks, and auto finance lenders, servicers, and holders. We focuses on dealer finance relationships and advises financial institution creditors on financing regulations and compliance matters. We advocate for the needs of our clients by enforcing and upholding banking and financing laws.

Colorado Creditor Law: Practice Areas — Commercial

• Loan modifications
• Floor plan, dealership premises, and other real estate law and financing
• Capital loan financing
• Revolving credit lines
• Lender guarantees
• Cross collateralization and default agreements

Colorado Creditor Law: Practice Areas — Consumer

• Installment contracts
• Vehicle loan and leases origination
• State and federal programs involving secured vehicle finance
• Manufacturer defects and warranties
• Auto financing
• Servicing claims
• Banking and finance law
• Class action matters related to:

○        Repossession

○        Vehicle leases and collateral

○        Force-placed insurance

○        Interest rate spreads

○        Installments sales contracts

○        Credit reporting

○        Debt collection

Skilled in Auto Finance Bankruptcy and Insolvency

At Douglas D. Koktavy, P.C., in Denver, Colorado, we represent creditors. We understand that the automobile finance battle is already costly and time-consuming. For that reason, we offer bankruptcy representation at a flat rate to auto lenders, servicers, and holders.

Because we know that time is of the essence when it comes to court filings and litigation practices, we provide same-day services to take immediate action on motions, objections, and other bankruptcy issues. We work to collect deficiency accounts successfully and bring suit when needed. If you are over-taxed by efforts in the collection of debts, do not hesitate to seek professional legal advice.

Denver bankruptcy courts are inundated with debtor motions requesting automatic stays to prevent collection efforts. As a result, the courts are concerned with generic and unsubstantiated requests for relief from stays by Colorado creditors.

The process to continue collecting on an obligation after a stay, forbearance, or bankruptcy judgment has been granted is an extremely difficult one. It is crucial to act quickly in advance of these actions and file timely objections to protect your rights as a creditor and recoup as much as possible. At Douglas D. Koktavy, P.C., our lawyers represent your needs and are prepared to help you take all necessary action. Our attorney finance litigation team is your voice in the courtroom.

Colorado Creditor Law: Practice Areas — Bankruptcy Representation

• Redemption and valuation issues
• 341 meetings
• Examinations and reaffirmation hearings
• Discharge opinions

A Team That Understands

The process of tackling the administrative filing process and adhering to court procedures takes a team of dedicated professionals. At Douglas D. Koktavy, P.C., our attorneys and paralegals work together to keep the legal filing process in continuous motion while striving to achieve a positive financial resolution for your business. You couldn’t ask for a more committed partnership.

Denver auto loan creditor attorney, Douglas D. Koktavy, P.C. has a demonstrated commitment and has a proven track record representing automobile finance companies and national banks for all creditor needs.

The firm routinely provides flat fee bankruptcy representation to automobile lenders, servicers and holders of retail installment contracts.

We provide same day service to established clients for motions for relief from stay (or lift of stay), objections and other routine bankruptcy matters.

Our team customizes specific forms for each client increasing speed and efficiency. We also maintain a blog in order to keep our lender clients advised of frequent changes to bankruptcy procedures and rules in real time.

Relief from Stay and Automobile Finance – Client Requirements for Relief from Stay Motions

When a person files for bankruptcy, an automatic stay is issued that stops all collection efforts, including lawsuits, garnishment, or attempts at repossession. Our attorney helps automobile finance lenders seek relief from stay so they may repossess and sell the debtor’s vehicle. Consider the following when seeking relief from stay in Colorado.

A Debtor must respond to a Relief from Stay (RFS) Motion or it will be granted. Therefore, the RFS procedure takes on almost a default judgment type of practice. The Colorado bankruptcy court is increasingly concerned about generic, conclusionary, unsubstantiated, RFS Motions. We recommend the following documents and information to address this concern:

1. Loan or Retail Installment Contract Issues

• A legible copy (both sides) of the promissory note or contract.
• A legible copy of the title noting your lien.
• Legible copies of all assignment or servicing documents (if current holder is different from creditor identified on note or RIC). The judges, at a recent bench-bar luncheon, noted this issue is a recurring problem in Colorado.

2. Servicemembers Civil Relief Act

• This is an update of the old Soldiers and Sailors Civil Relief Act. My office has the ability to interface with the Department of Defense to create a complying affidavit. We require a social security number for all debtors who are obligated to pay to comply with the Act.

3. Amount Owing and Delinquency

• This is a point of frequent confusion, as noted by our bench. The critical date for identifying amount owing is the date of filing bankruptcy. It is imperative that clients provide amount owing as of this date.
• Delinquency should also be noted as of the date of filing.
• Post-petition (after filing bankruptcy) delinquency should be provided. However, the Court will want these figures separated into pre-petition and post-petition amounts.
• A computer generated payment history. This is another point of concern brought up by the judges. The Debtor says, “I paid it.” Exactly how detailed and lengthy such a report should be is unclear. Certainly a report that shows the “holes,” or missed payments, is very helpful.

4. Proof of Insurance

• The ultimate trump card for creditors. There is no defense and we can seek emergency relief for appropriate cases. Please let me know insurance status.

5. Value

• Most of my clients provide an NADA valuation for the unit. It is a good starting point and should be supplied.

6. Client Affidavit

• Creditors with ongoing business in Colorado would be well advised to develop a form affidavit that can be easily adapted to individual cases. The Bankruptcy Court is giving clear signals that such procedure will become mandatory in the near future.

Bankruptcy Representation: Chapter 13 Issues

Chapter 13 confirmation issues in Colorado are now on a fast track after the 2005 change to the Bankruptcy Code. A timely objection must be filed three (3) court days prior to the first meeting of creditors. It is critical to meet this deadline to preserve your rights in a Chapter 13 reorganization.

Adequate protection payments are now mandatory and may be distributed on a pre-conformation basis by the Chapter 13 Trustee. 1% of the amount owed on the date of filing is the presumptive amount. However, a creditor must file a proof of claim to receive adequate protection payments.

Bankruptcy Representation: Other Auto Finance Issues

We are a full-service firm skilled in meeting all your automobile finance bankruptcy needs. Additional areas include:

• 341 meeting attendance, 2004 examinations, and reaffirmation hearings.
• Discharge and discharge ability opinions.
• Adversary proceedings.
• Preference defense.
• Redemption and other valuation issues.

Deficiency Collection and Replevin

The office successfully collects on deficiency accounts for automobile lenders. Our strategy is to immediately generate any form notices and bring suit. Our experience has proven the highest percentage of successful collection occurs through garnishment. We move your client files quickly through the system to accomplish this task.

Our paralegal staff is dedicated and skilled at keeping the paper flowing; renewing garnishments; perfecting liens; and disbursing, accounting, and reporting to clients on a monthly basis. Effective collection of debts requires a thorough understanding of local laws and procedures, and our firm excels in providing top-tier collections services for our clients in Denver and beyond. We have had glowing feedback from clients on our collection procedures and results. Our clients appreciate the high degree of personal contact and interaction they enjoy with our staff.

Replevins are accomplished with the same speed. We customize a forms library for each client and each situation so we can quickly assemble the necessary paperwork. Extra steps, we have learned after years of experience, insure that the unit will be recovered once personal service is obtained. We have a separate tab discussing replevin in greater detail.

Contact Denver Auto Finance Creditor Attorney, Douglas D. Koktavy, P.C., for assistance with any debtor/creditor law or creditor services need,
call (303) 758-6601, ext. 104, or contact us online.