Tips To Fight Bankruptcy Scams
Did you know that there are people who take advantage of the bankruptcy provisions? There are some people who may be slow to pay their bills. So, what do they do — transfer their assets into some other person’s name and declare bankruptcy in order to avoid paying their creditors. Businessweek.com reports:
Unfortunately, this kind of scam occurs all too often, and small businesses sometimes end up victimized as a result, experts say. Even when an outfit declares bankruptcy legitimately, smaller companies like yours are typically listed as unsecured creditors and get low priority when it comes to payment of the debt.
Read more: How to Fight Bankruptcy Scams