Ask a Business Lawyer. Get Business Law Questions Answered ASAP.
Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!
Hi Robert. You really need not worry about this because there is little they can do. Even though you have not paid it and you do owe it, until they file suit and get a judgment, they can do nothing to you. Even if they get a judgment, they still must collect it. And, here is where you have the leverage because you are judgment proof. Whether or not they will even pursue you depends upon their assessment of the collectibility of a judgment. So, if they actually do file a civil suit, if you can convince them there is nothing for them to get, and that if they were to pursue a judgment, you would simply file for bankruptcy protection and get the judgment discharged—and even if you have no intention of doing so, it is still good leverage with them because they do not know whether or not you would… then it is unlikely they will spend the time and money necessary to get a judgment they believe is uncollectible in the end.
Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as Good or Excellent (hopefully Excellent). Otherwise, I receive no credit for assisting you today. I thank you in advance for taking the time to provide me a positive rating!