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Politics : Piffer Thread on Political Rantings and Ravings -- Ignore unavailable to you. Want to Upgrade?

To: Oral Roberts who wrote (1152)	8/21/2001 9:18:41 PM
From: Original Mad Dog	Read Replies (1) \| Respond to of 14610

Actually that's a good law Jeff.....it prevents creditors from tearing at a dying carcass of a debtor before they file bankruptcy by making creditors give back (with certain exceptions) everything they received from the now-bankrupt debtor within 90 days of the filing. The theory is that this will lessen the motivation for creditors to try to jump ahead by extorting money as the debtor crumbles. There are exceptions though....one of which is that the payments were in the "ordinary course of business"....another having to do with giving the debtor "new value" during that time period.... It comes as a rude surprise to creditors when it happens, but you can often negotiate a discount if one of the exceptions might apply. The problem is for 4800 bucks it ain't worth paying your lawyer to figure it out.....