QUESTION
Is it legal for a company that has gone through bankruptcy is not trying to collect supposed debts of past patrons?
Asked on Sep 25th, 2012 on Bankruptcy - Minnesota
6 ANSWERS
There are a lot of questions inside your question, and without answers to those questions, there is no good answer to the one you just asked. For example, what sort of bankruptcy did the company file? Is the case done? What was the result? What is your interest in the company collecting on its receivables? Etc.
Answered on Sep 28th, 2012 at 11:42 PM
Criminal Law Attorney serving Fremont, CA
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Steven J. Alpers, A Professional Corporation
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It would probably be the bankruptcy trustee who would collect or if they are out of bankruptcy they would collect.
Answered on Sep 28th, 2012 at 7:34 PM
Criminal Defense Attorney serving Deltona, FL
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R. Jason de Groot, P.A.
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A company can choose not to try to collect upon accounts receivable. The important thing to know is that the statute of limitations is 5 years on contracts.
Answered on Sep 28th, 2012 at 7:34 PM
Bankruptcy Law Attorney serving Livingston, NJ
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Law Office of Stuart M. Nachbar, P.C.
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If you mean can a corporation collect its old debts post bankruptcy, as long as they were abandoned by the trustee, yes they can collect them.
Answered on Sep 28th, 2012 at 1:09 AM
If I understand your question, yes it is legal for a company that has gone through a bankruptcy to try to collect on what past patrons owe to it. It no longer has to pay its past debt (once the discharge is granted) but debts owed to it are valid (unless the patron has filed bankruptcy.)
Answered on Sep 28th, 2012 at 1:09 AM
Chapter 13 Bankruptcy Attorney serving Bloomington, MN
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Gregory J. Wald
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If it is a Chapter 7 bankruptcy, it would normally be the responsibility of the bankruptcy trustee to collect the receivables.
Answered on Sep 28th, 2012 at 1:08 AM