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Preparing to File a Business Bankruptcy

In the 90 days prior to filing for bankruptcy you can not pay an usecured creditor for past services, unless the payments are in the ordinary course of businesses, 11 U.S.C. s. 547. If you do pay them, then the Chapter 7 Trustee may sue your creditors forcing them to turn over the payment.

If you would like to get more information on preferential payments contact us today.