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 ScottyMacESQ Your Own Question
ScottyMacESQ, Attorney
Category: Bankruptcy Law
Satisfied Customers: 16325
Experience:  General Practice Attorney
Type Your Bankruptcy Law Question Here...
ScottyMacESQ is online now
A new question is answered every 9 seconds

I recieved a notice in the mail that say that a company called

Customer Question

I recieved a notice in the mail that say that a company called Life Partners Holding,Inc is filing for chapter 11 Bankruptcy in forthworth Texas. On one of the paragraphs in the middle of the 3rd page it list me as the person and my address to submit claimt to. I dismissed as a scam until i thought about it in 1999 i was my illness was terminall and i had a limited timee to live I sold 2 of my life insurance one with the face value of 25000.00 the other with a face value of 50000.00 the one that is 50000.00 was a whole life and they took over complete control i did not have the legal authority to talk to the life insurance company. So i guess they have kept the insurane payments up and and is still waiting on me to die. "By the grace of good i have not" and i am pretty sure they stop making payments years ago as it was 16 years i am still breathing. i sold 25000.00 of my work insurance to some company that i don't even remember their name. I was in pretty bad shape expecting to die any day but lived to retire from the job. When i retired my innsurance was reduced to 10000.00 my compang pay the monthly payments for the rest of my life. The the papers for petition of the bankruptcy is gooble de gook but i still wonder is that is possible to list to list me as the debtor or claimint It has been 16 years and i have never heard from them.
Submitted: 2 years ago.
Category: Bankruptcy Law
Expert:  ScottyMacESQ replied 2 years ago.
Thank you for using JustAnswer. So to be clear, you received what you contracted for? That is, when you sold your insurance policy, they actually paid you for that?
Customer: replied 2 years ago.
Just answering lost internet connection for 2 days. Yes i recieved what i contracted for i sold a 25000.00 for 17000.00 16 years ago.It was so long ago and i was very sick i don't remember any of the details as i thought that i would died within a few month. In the bankruptcy letter i also read in the middle fo all the the pages they named the company a the debtor that owes me money or property and gave my name and address same the as the persons to send all request for claims. I am pretty sure it is some kind of a scam but i am still alarmed.
Customer: replied 2 years ago.
Also, i get calls over my landline with area code instead of 800 nimber i called back a few times and no one would anwer when i redialed it always said the number is ***** I started bllocking the numbers. Now they call with a name Msri 4 or 5 times aday when i call back these no. always say they are also not in service.. I no it is some kind of scam but i cannot understand the purpose. That why i paid you to give me some kind of direction. If you have heard of it i know that the money i paid you for the answer is small so just say if it is a scam or not.
Expert:  ScottyMacESQ replied 2 years ago.
I've heard of this bankruptcy (it arises out of Texas) so that is not a scam in and of itself. It's possible that someone could be contacting you and trying to scam you, but I doubt it. Rather, you're probably being contacted because you were once a contractee of this company, and it's likely that your contact information is still on the book. As a previous contractee, it's possible that you still have a claim against the company, and as such you're required to be given notice of the bankruptcy so you can put in any possible claims and object to any potential asset distributions and plans. It doesn't mean that you do have a claim, but rather they determined that it's possible that you might, so you need to be given notice of the bankruptcy. The website for the bankruptcy trustee is here: If you go to that site, you can find the contact information so that you can contact the trustee to determine why you were contacted and if they reference you as having some claim. You likely don't. But you should still use that contact information rather than the information given you on the phone (assuming that that information is different) because if scammers are contacting you, they're not going to be using that legitimate phone number and contact information that I referenced. Basically as they purchased the life insurance policy from you, it was a policy that referenced you and you were connected with. It was a "receivable" on their side (a potential asset) that would only mature by action on your part (namely your death). So that's why you were likely contacted. Again, it doesn't mean that you do have a claim, but as it's possible that you might, in the abstract, they were required to contact you and give you notice of the bankruptcy filing. Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, ***** ***** luck to you!

Related Bankruptcy Law Questions