Can a debt collector collect money for a company that has filed bankruptcy?
We receive calls from a debt collection agency attempting to collect money for a company that went out of business and filed bankruptcy a while ago. Is that legal/justifiable?
But if that company filled bankruptcy, doesn’t that mean that they are no longer required to pay back their lenders or any accts payable?;
How is it that they would still be allowed to recoup their losses but not pay their lenders if they’ve declared bankruptcy.
jeffinerg123 on Tue, 9th Feb 2010 8:46 pm
yes they can,, when montgomery wards filed banko-walmart bought their accounts and were collecting on them,,,, companys go out of business when people do not pay their bills,,,,another company will buy them out so they can recoup something, bought or not you still owe the bill, bought means now they can sue if they want
STEVEN F on Tue, 9th Feb 2010 9:30 pm
The bankruptcy court SOLD the company’s assets to pay the company’s debts. On of those assets was the RIGHT to receive payment from you. The bankrupt company is NOT recouping anything. The collector that BOUGHT your dept is recouping their investment.
the tax lady on Wed, 10th Feb 2010 4:01 am
Any debt you owed the company was an asset. That asset continues to exist and yes, they can collect from you.
foxyloxy on Wed, 10th Feb 2010 4:51 am
no they can not because when you file bankruptcy they ask for all prove of debts and if you miss any they put your bankruptcy in a small section of the news paper asking if there is any money owed by this person to come forward before a certain date or the debt will be classed as cleared if i was the company i would contact the person they did the bankruptcy with unless he got the debt after he filed for bankruptcy in which yes he will have to pay it.