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Guru_Guy, Attorney
Category: Bankruptcy Law
Satisfied Customers: 2418
Experience:  Years of experience providing advice on bankruptcy and other alternatives to debt problems.
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a company has 120000 dollars of my money but cannot pay me can i bankrupt them

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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.


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.
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