How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Guru_Guy Your Own Question
Guru_Guy
Guru_Guy, Attorney
Category: Bankruptcy Law
Satisfied Customers: 2418
Experience:  Years of experience providing advice on bankruptcy and other alternatives to debt problems.
1987257
Type Your Bankruptcy Law Question Here...
Guru_Guy is online now
A new question is answered every 9 seconds

a company has 120000 dollars of my money but cannot pay me can i bankrupt them

Resolved Question:

No Comment Added
Submitted: 8 years ago.
Category: Bankruptcy Law
Customer: replied 8 years ago.

orlando, Florida


Already Tried:
nothing. they are still trading but cannot pay me they have sent me a letter saying it would be foolish to take things further because they cannot pay but yet they carry on trading
Expert:  Guru_Guy replied 8 years ago.

Hello,

You can certainly go to court, obtain a judgment and then begin attaching property or other company assets to satisfy the judgment. Depending on how many assets the company has, you may be able to get some of your money at least.

Normally it is up to the company to seek bankruptcy protection from creditors like you. A creditor will normally go after the debt directly using your State civil court. Try to get as much as possible that way. If they seek bankruptcy protection, you will likely only get back a percentage of what they owe you.

I hope this helps!

__________________

Please keep in mind that information in this forum is for informational purposes only. It is not legal advice and does not constitute creation of an attorney client relationship. Before acting on any such information, you are always advised to consult with an attorney licensed to practice in your jurisdiction who can take the time to review all the facts and laws relevant to your situation.
Guru_Guy and other Bankruptcy Law Specialists are ready to help you