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One of the main rules that favor the creditors is Preference. The debtor can't transfer possessions or make payments that favor certain creditors over one another. This assures that every one that is owed money gets paid their fair share. However, there is one exception to this rule. A debtor may agree to pay a debt owed to a family member, family doctor, or neighborhood banks...
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One of the main rules that favor the creditors is Preference. The debtor can't transfer possessions or make payments that favor certain creditors over one another. This assures that every one that is owed money gets paid their fair share. However, there is one exception to this rule. A debtor may agree to pay a debt owed to a family member, family doctor, or neighborhood banks...
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