"Preferential Payments Bankruptcy"

The impact of the coronavirus has been far-reaching, and one of the unexpected places it is being felt is in the bankruptcy courts.

Preferential payments are payments made to certain creditors in the 90 days before a company files for bankruptcy. These payments give those creditors an advantage over other creditors when it comes to getting paid back.

Under normal circumstances, preferential payments need to be returned to the bankruptcy estate so that all creditors can be treated equally. However, many businesses are struggling to make ends meet right now and may not have the money to pay back these debts.

This could lead to more businesses declaring bankruptcy and could have a ripple effect on the economy as a whole. It's yet another example of how the coronavirus is affecting us in ways we never could have imagined.

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 main goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706