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A debt collection company purchases debts and sues the debtors to collect. After 10 years, that collection agency has amassed a portfolio of judgments- mostly uncollected and sitting at the various courts (in PA) for years. The company then filed for chapter 7 Bankruptcy. The trustee/ courts do not... View More
answered on Mar 19, 2024
If the debt collection agency was a corporation (or llc, etc.), it is not eligible for a bankruptcy discharge, although it can file for bankruptcy relief.
A Chapter 7 bankruptcy case is usually short-lived, a "liquidation case". Normally, the Ch. 7 bankruptcy trustee will assess... View More
A debt collection company purchases debts and sues the debtors to collect. After 10 years, that collection agency has amassed a portfolio of judgments- mostly uncollected and sitting at the various courts (in PA) for years. The company then filed for chapter 7 Bankruptcy. The trustee/ courts do not... View More
answered on Mar 20, 2024
In bankruptcy proceedings, assets, including judgments held by the bankrupt company, can be sold to pay off creditors. However, the specifics depend on the case and what the bankruptcy trustee decides. If the judgments were not liquidated during the Chapter 7 proceedings and remain assets of the... View More
answered on Mar 19, 2024
A Kansas attorney could advise best, but your question remains open for two weeks. Although you're awaiting a response, you should consider reaching out to experienced workers' comp attorneys in your state to discuss this. As a general matter, insurance carriers will often deny coverage... View More
My sister started a business w/her sister but couple months later got upset because it became overwhelming for her, requested to be released from the business, &wants all her money bk.
answered on Mar 19, 2024
A Texas attorney could advise best, but your question remains open for three weeks. It could depend on the terms of the business venture (agreements between the parties) and their conduct. This is a fact-intensive matter. There is no universal cookie-cutter answer. An attorney would need to see how... View More
answered on Mar 19, 2024
A Florida attorney could advise best and deserves the opportunity to respond first, but your question remains open for almost a week, and time is of the essence in a response here. If your son's car is insured, he should not be undertaking his defense by requesting the other side's... View More
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