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I am a buisness owner in canada owing a truck repair shop…

Customer Question
hello i am a buisness...
hello i am a buisness owner in canada owing a truck repair shop
one of the our customer (business company) who owe around 20grand is about to declare bankruptcy
can u plz guide what can we do legally to recover the amount.
Submitted: 6 months ago.Category: Canada Business Law
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Answered in 9 minutes by:
12/31/2017
Business Lawyer: Legal Ease, Lawyer replied 6 months ago
Legal Ease
Legal Ease, Lawyer
Category: Canada Business Law
Satisfied Customers: 105,570
Experience: I am a practicing lawyer and have also been an online professional for 5 years.
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Hello! My name is Debra (formerly known as Legal Ease). Thank you for your question. I'm reviewing it now, and will post back again shortly.

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Business Lawyer: Legal Ease, Lawyer replied 6 months ago

I am sorry to hear this.

Is this a corporation that owes you the money?

Do you have any of their trucks in your possession?

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Customer reply replied 6 months ago
its a corporation no currently i dont have any of their trucks in possesion
Business Lawyer: Legal Ease, Lawyer replied 6 months ago

Unfortunately, there is nothing you can do aside from filing as a creditor when they claim bankruptcy. If there are assets they will be sold for the debts and you may get a portion of what you are owed.

To start a lawsuit now will not make much sense as the lawsuit will be stayed as soon as they declare bankruptcy.

The only reason to sue now is if you are not really sure they are going to declare bankruptcy. If they don't and you get a judgment you can have any of their assets seized. Some people tend to say they are declaring bankruptcy when they aren't really to avoid creditors.

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

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Customer reply replied 6 months ago
but i have all the signed work orders and signed bills
and beside i have a credit application filled by him.
would that help
Customer reply replied 6 months ago
the person payable on it is his personal name of owner
so can we sue him personally
Business Lawyer: Legal Ease, Lawyer replied 6 months ago

It is not about proof that you are owed money. It is that once bankruptcy is declared all lawsuits are stayed and all debts are extinguished. Those registered as creditors would share proportionately if there are any assets.

If he guaranteed the credit personally you can sue him personally.

It is new year's eve and I am leaving for the evening now. I will check back later tonight.

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Customer reply replied 6 months ago
Can u guide me how to put a lien on the vehicles
or i have to go to a lawyer to do that
Business Lawyer: Legal Ease, Lawyer replied 6 months ago

You cannot do that without suing. Once you sue and get a judgment then you can but not now.

So you or a lawyer acting for you has to send a demand letter and then if they don't comply you would start a claim.

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Business Lawyer: Legal Ease, Lawyer replied 6 months ago

Is there anything more I can help you with at this point in time?

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Business Lawyer: Legal Ease, Lawyer replied 6 months ago

Did things work out?

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