{"id":167,"date":"2014-01-30T10:34:42","date_gmt":"2014-01-30T16:34:42","guid":{"rendered":"http:\/\/www.mankatobankruptcy.com\/blog\/?p=167"},"modified":"2014-01-30T10:36:44","modified_gmt":"2014-01-30T16:36:44","slug":"know-preferences-bankruptcy-assistance-mankato-mn","status":"publish","type":"post","link":"https:\/\/www.mankatobankruptcy.com\/blog\/know-preferences-bankruptcy-assistance-mankato-mn\/","title":{"rendered":"Know Your Preferences: Bankruptcy Assistance in Mankato, MN"},"content":{"rendered":"<h2>Mankato, MN Bankruptcy Attorneys at Behm Law Group, Ltd.<\/h2>\n<p>If you made a credit card payment of more than $600, and within 90 days\u2014the preference period\u2014of that payment you filed for bankruptcy, your bankruptcy trustee can request to reclaim that payment.<\/p>\n<p>Don\u2019t get too excited, however, because you won\u2019t be getting that money back. Rather, your bankruptcy trustee will take that reclaimed payment and divide it evenly among the original creditor and all other similarly situated creditors.<\/p>\n<p>Confused? You\u2019re not alone. But <a title=\"Behm Law Group, Ltd. in Mankato, MN\" href=\"http:\/\/www.mankatobankruptcy.com\/\"><strong>Behm Law Group Ltd<\/strong><\/a>., can help you understand even the most arcane nuances of <strong><a title=\"Bankruptcy Law Behm Law Group, Ltd.\" href=\"http:\/\/www.mankatobankruptcy.com\/bankruptcy.php\">bankruptcy law<\/a>.<\/strong> In the meantime, some background detail:<\/p>\n<p>This section of the <strong>Bankruptcy Code<\/strong> (11 U.S.C \u00a7 547) deals with the fair and equal treatment of all unsecured creditors, although the original creditor from which the payment was reclaimed may not agree it\u2019s all that fair.<\/p>\n<p>This preferential payments to creditors clause understandably causes some consternation amongst creditors who must return payments and in turn receive a smaller amount, but it\u2019s intended to ensure all creditors involved receive at least some amount of compensation back from the debtor.<\/p>\n<p>Under the <strong>Bankruptcy Code<\/strong>, a debtor is assumed to have been insolvent during the 90 days prior to the debtor filing for bankruptcy. All debtor-to-creditor transfers and payments\u2014over $600\u2014made during that 90 day period are therefore considered suspect.<\/p>\n<p>To learn more about this <strong>Bankruptcy Code clause<\/strong>, or for more information about <strong>bankruptcy law<\/strong> in general and your bankruptcy options in particular, contact <a title=\"Contact Behm Law Group, Ltd.\" href=\"http:\/\/www.mankatobankruptcy.com\/contact-us.php\"><strong>Behm Law Group, Ltd.<\/strong><\/a> We have a professional and knowledgeable <strong>bankruptcy attorney<\/strong> team who serves Mankato, MN and the surrounding communities. Learn about your bankruptcy options and rights today.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mankato, MN Bankruptcy Attorneys at Behm Law Group, Ltd. If you made a credit card payment of more than $600, and within 90 days\u2014the preference period\u2014of that payment you filed for bankruptcy, your bankruptcy trustee can request to reclaim that payment. Don\u2019t get too excited, however, because you won\u2019t be getting that money back. Rather, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,35,33],"tags":[],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Mankato, MN Bankruptcy Assistance at Behm Law Group, Ltd.<\/title>\n<meta name=\"description\" content=\"Behm Law Group, Ltd. provides bankruptcy assistance in Mankato, MN and the surrounding communities during times of uncertainty. Contact the bankruptcy attorneys today!\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.mankatobankruptcy.com\/blog\/know-preferences-bankruptcy-assistance-mankato-mn\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mankato, MN Bankruptcy Assistance at Behm Law Group, Ltd.\" \/>\n<meta property=\"og:description\" content=\"Behm Law Group, Ltd. provides bankruptcy assistance in Mankato, MN and the surrounding communities during times of uncertainty. 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