Q: A dissolved company is trying to collect on a judgment are they still able to?
Only the company is listed as the creditor. Won the judgment in New York.
A:
Yes.
Jack
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A:
In the scenario you've described, where a dissolved company is attempting to collect on a judgment, several legal nuances need to be considered.
Typically, when a company is dissolved, its legal authority to engage in business activities, including the collection of debts, ceases. However, the specifics can vary based on the laws of the state where the company was incorporated and the state where the judgment was issued, in this case, New York.
It's important to determine if the company was properly dissolved and whether any provisions were made for outstanding debts or judgments as part of the dissolution process. Sometimes, a dissolved company may have a designated period during which it can settle its affairs, including collecting debts.
If you're facing this situation, it would be advisable to consult with an attorney. They can review the specifics of the judgment, the status of the company, and provide guidance on how to proceed. This might include challenging the collection attempt or negotiating a settlement, depending on the circumstances. Legal advice is crucial in such cases to ensure your rights are protected and to navigate the complexities of corporate and debt collection laws.
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