Follow through to the extent necessary. With any luck, your participation in the previous steps will be enough, and the bankruptcy trustee will see to administering a repayment plan (in a Chapter 11 or 13 case) or handling the sale of the debtor's available property and repaying the creditors (in a Chapter 7 case). If, however, disputes or other unusual circumstances arise, more court proceedings may be required. You would want to reassess the amount of money at stake and decide whether it's worth hiring an attorney to continue.

Your Chances of Success

Is it realistic to hope that any money can be wrung from this debtor? You may be in a better position to answer that than anyone. Based on your past knowledge of the debtor or on your alert perusal of the debtor's bankruptcy paperwork, you may have formed an opinion about the debtor's financial prospects and level of honesty. Is the debtor the type likely to have an overseas bank account and a hidden boat, or is the debtor someone who's truly down on his or her luck with nothing left?

If you don't have a good sense of the debtor, consider the following:

• Your active participation in developing a reorganization plan (in a Chapter 11 or 13 case) may lead to a better deal for you and other creditors.
• In most cases, the bankruptcy trustee will be looking for hidden assets and income, and if you've maintained your role in the case, you will be among those who ultimately benefit.
• Reorganization cases take many months to complete, during which time the debtor may get a pay raise, collect an inheritance, or win a lawsuit, all of which will increase the amount of money available to you and other creditors.