"Preferential Payments Bankruptcy"
In today's economy, many individuals and businesses are struggling to make ends meet. One way that some people try to stay afloat is by making preferential payments to creditors. Preferential payments are made when a debtor pays one creditor in full while leaving other creditors unpaid. While this might seem like a good way to keep creditors happy, it can actually lead to more problems down the road.
If you're considering making preferential payments to creditors, it's important to understand how this could impact your bankruptcy case. When you file for bankruptcy, all of your creditors are supposed to be treated equally. If you've made preferential payments to one creditor, the court may require you to pay that money back to other creditors. This could leave you in a worse financial situation than before you filed for bankruptcy.
Preferential payments can also impact your ability to get a discharge in bankruptcy.
The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.
Our goal is to help you find a fresh start FASTER!
Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706