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"Preferential Payments Bankruptcy"


Under the Bankruptcy Code, a debtor is generally required to treat all unsecured creditors equally. However, there are certain types of payments that the debtor can make to certain creditors that may be given preferential treatment. These payments are called "preferential payments."


A debtor may make a preferential payment to a creditor for many reasons, such as to keep the creditor from foreclosing on the debtor's home or repossessing the debtor's car. However, if the debtor is unable to pay all of his creditors in full, the preferential payments made to certain creditors may need to be returned (or "clawed back") to pay off other creditors.


If you have made any preferential payments within the 90 days before filing for bankruptcy, you should speak with an experienced bankruptcy attorney to determine whether or not those payments may need to be returned.




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