As a business person, you no doubt are aware that bankruptcy effects the state of trade. In day to day operations, when providing goods or services to a struggling entity or individual you know, getting money due from your customers can prove to be difficult.
Perhaps you were lucky enough to receive some funds from your customer prior to its filing bankruptcy. Just when you were thanking your lucky stars for the little amount money you were able to receive from your customer prior to its bankruptcy filing, you receive the dreaded demand letter from the bankruptcy trustee in the mail and it hits you in the face like a splash of cold water. You’re being told you have to give it back any money received from 90 days prior to your customer filing bankruptcy. And it's not some sort of bad joke, either....Read More