Thank you for your question. I am happy to assist you.
First, it appears that the collection agency is in violation of the Fair Debt Collection Act. They cannot "close your doors". They can file suit and obtain a judgment and execute the judgment against the business assets.
It is a violation of the Federal Fair Debt Collection Act (FDCA) for a debt collector to use unfair tactics such as harassment, false statements or threaten acts they cannot legally undertake.
You may file suit in Federal Court for each violation of the Act. I have attached the link to the FDCA for your review.
Federal Fair Debt Collection Act link:
Second, a Chapter 11 bankruptcy may become necessary for you at some point. A Chapter 11 is a reorganization of a businesses debts. It could be filed to provide for orderly payment of your bills while you are operating your business in the event creditors had obtained liens and were attaching your assets.
I hope that the information which I provided was helpful to you.
Best wishes for a successful outcome. If you have additional questions, please do not hesitate to submit them to me directly.
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THIS IS FOR INFORMATION ONLY. NO ATTORNEY-CLIENT RELATIONSHIP EXISTS. PLEASE CONSULT A LAWYER IN YOUR STATE FOR LEGAL ADVICE