QUESTION
We sold our Mercedes repair business in Kona Hawaii and carried the contract at 607.00 a month for 10 years. This was all memorialized by the escrow
Asked on Dec 12th, 2011 on Bankruptcy - Hawaii
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company. The buyer wrote us off in bankruptcy. And now has our business unincumbered. He continued although not reaffirming to pay the monthly fee of 607.00 for 11 months after the bankruptcy was over,but now has stopped paying. Did continuing to pay reobligate him to the debt to us?
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No, if the debt was written off in the Chapter 7 Bankruptcy, making later payments doesn't create a new debt. The fact he did not reaffirm the debt, but continued to pay doesn't effect the discharge. You may have a case for a new law suit, but as it was discharged in the Bankruptcy Filing, I doubt you would win such an action.
Joseph F. Botelho, Esq.
BOTELHO & ASSOCIATES, LLCAttorneys At Lawwww.massachusettslawyeronline.com
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Answered on Dec 14th, 2011 at 4:08 PM