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I loaned money to a corporation now it was sold but the name…

Customer Question
I loaned money to...

I loaned money to a corporation now it was sold but the name was kept. Can I sue for my money?

Lawyer's Assistant: What state are you in? And have you consulted a local attorney?

NJ. No not yet. It is a small horse boarding barn a friend owned. She was going to lose it so I wrote out checks for different things to save it. Now her daughter in law had the business put into her name so she could get a SBA loan before it was forclosednon

Lawyer's Assistant: Has anything been officially filed? If so, what?

No

Submitted: 3 months ago.Category: Legal
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Answered in 1 day by:
4/26/2018
Lawyer: Josie-Mod,
 replied 3 months ago
Josie-Mod
Category: Legal
Satisfied Customers: 12
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Hi, I'm Josie, a moderator for this topic.
I've noticed you have not yet received a response to this question.
I wonder whether you're ok with continuing to wait for an answer.
If you are, please let me know. If not, feel free to let me know and I will cancel this question for you.
Thank you!
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Customer reply replied 3 months ago
well how long do I have to wait?
Lawyer: Josie-Mod,
 replied 3 months ago
Hello again,
We can not predict or guarantee response time, just because the volume of questions, number of Experts online, complexity of questions, and other factors vary.
Your question is open to all Experts.
Thank you for your response.
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Customer reply replied 3 months ago
ok ill wait a few days and see what happens
Lawyer: Bill Attorney, Lawyer replied 3 months ago
Bill Attorney
Category: Legal
Satisfied Customers: 2,810
Experience: Attorney
Verified

Dear Customer ,

Thank You for posting your debt collection and contractual law question this evening.I'm attorney Bill assisting you with your question posted earlier.

If the company has just changed hands and has remained registered with the Secretary of State's office then the new owner will be responsible for past liabilities and debts.

Because a company is a legal entity in itself your claim can continue and you can file a civil suit against the company , and a preliminary civil letter of demand with the company to pay a due debt.

In case the company has been struck off, you would need to pursue the directors or reinstatement of the company through the Secretary of State's office.

A good first step is to send out the company a letter demanding payment and then to see if they are accepting or denying your claim.

We are here to help so please follow up with me as required.

In return by leaving positive feedback and a rating I get a credit for my time.

FIVE STARS or your rating is much appreciated in this regard.

Thanks

Attorney Bill

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Customer reply replied 3 months ago
I already know there going to deny it or ignore the letter
Lawyer: Bill Attorney, Lawyer replied 3 months ago

Yes but the letter is a necessary first step and required by many civil courts to file a civil suit.

You would then follow up with a civil suit against the company.

There may be an option to add individual directors as party defendants in addition to the company and this is something your attorney should explore.

We are here to help so please follow up with me as required.

In return by leaving positive feedback and a rating I get a credit for my time.

FIVE STARS or your rating is much appreciated in this regard.

Thanks

Attorney Bill

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

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