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Does a company declaring bankruptcy have the right to demand return or reimbursement of all payments made to creditors 90 days prior as preferential payment?
Wiki User
∙ 15y ago
the company declaring the bk? Absolutely not...the court can. But for the Co to even suggest it happened...when preferential payments are actually against the law....so it would be admitting it did so...would be more than stupid. And by its' very nature...payments made to all creditors can't be preferential...only payments made to specific creditors (or others) and not all may be.
Wiki User
∙ 15y ago
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What is the top priority when distributing assets from someone declaring bankruptcy?
Secured creditors to the extent of their security on specific property (e.g., mortgage interest on real property)
If someone filed bankruptcy back in 1999 and a creditor was not listed were they included in the bankruptcy?
No. And if you knew they were a creditor, you could be subject to fraud charges for having filed papers with the court swearing you were declaring your entire financial status and known creditors.
Does the credit owner will get in prison if he or she did not pay the bills?
No, unless he or she committed fraud in some way. Simply declare bankruptcy, the court will decide how your remaining assets will be used to pay creditors and which you keep. After declaring bankruptcy you cannot do it again for a certain number of years.
Does declaring bankruptcy wipe out icbc debts?
yes
What kind of lawyer would one use when declaring bankruptcy?
When one is declaring bankruptcy, they should use a lawyer familiar with bankruptcy. There are different types of bankruptcy to consider, such as liquidation or cancelling your debts, or reorganizing for wage earners who can still make debt payments.
Does the constitution prohibit a state from declaring bankruptcy?
No, the only mention of bankruptcy is that Congress shall have the power to enforce uniform bankruptcy laws.
How to write a Letter declaring bankruptcy?
In the US, a bankruptcy is petitioned and decided in a Federal Court. It is not done with a letter.
How can you claim bankruptcy to avoid paying bills?
In order to claim bankruptcy a court has to issue a bankruptcy order against you. The best place to find information about bankruptcy and the whole process of declaring bankruptcy is the official government website.
What lien do I file on someone declaring chapter 11?
The type of lien you file, if any and how, is not effected/changed by someone "declaring" bankruptcy, as all creditors will have the opportunity to submit proofs of claim. If they have already declared, then you can't file a lien anyway as all collection actions are barred. Just your proof of claim. Normally, a "someone" doesn't file C-11....it is for Companies.
Where can one get a car loan after declaring bankruptcy?
You can receive a car loan after declaring bankruptcy by applying to any bank that offers the option. However you might have to rebuild your credit score first, or just have a co-signer with amazing credit.
Where can one find out about bankruptcy mortgage loans?
One can learn about their options for getting a mortgage loan after declaring bankruptcy by visiting the websites of businesses that offer mortgages. Generally, one cannot obtain any kind of mortgage for at least two years after declaring bankruptcy, but some companies may make an exception.
After declaring bankruptcy my father died and left me half his estate will I lose it?
If your father was involved in a bankruptcy proceeding at the time of his death his assets are encumbered by the proceeding. The bankruptcy proceeding would affect the title to his property until it is resolved. His estate would need to be probated in order for the title to his property to pass to you. When an estate is probated the creditors must be paid first before any distribution to heirs can be made. You should contact your father's bankruptcy lawyer or his trustee in bankruptcy to notify them of his death and to determine what your options are. If that's not possible you should seek the advice of a probate attorney.
