Legal Question in Bankruptcy in Michigan

bankruptcy

A local company accepted $1200.00 from me for carpeting.

They declared bankruptcy before delivery was made. How can I get my money back


Asked on 6/11/08, 6:45 pm

1 Answer from Attorneys

Audra Arndt Audra A. Arndt & Associates, PLLC

Re: bankruptcy

File a Proof of Claim with the bankruptcy court and attach all supporting documentation (a copy of the cancelled check, any contract, etc.) Whether or not you recover money depends on when they received the money and when they filed bankruptcy. If you paid them within 90 days of when they filed, you will get your money back as this is considered a "preference payment." It is was outside the 90 days, you will only get money back if there is enough money in the estate to pay all priority claims, and then the non-priority claims, which is where your claim likely falls.

The proof of claim form can be found on the bankruptcy court's website.

Thanks.

Read more
Answered on 6/11/08, 6:50 pm


Related Questions & Answers

More Bankruptcy Law questions and answers in Michigan