Q: I have a partnership with someone who sells partnerships in horse. He said they are going to file personal bankruptcy
Can I still get the money from them that they owe me. I live in PA and they live in AZ. They have not filed yet as far as I know of. They still have 2 horses racing.
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A:
If your partner files for personal bankruptcy, it can complicate your ability to collect the money they owe you. However, you may still have some options to pursue your claim.
First, you should check whether they have actually filed for bankruptcy. If they haven't filed yet, you might be able to negotiate a payment plan or some other arrangement directly with them. It's important to act quickly to understand their intentions and your rights.
If they do file for bankruptcy, your claim becomes part of the bankruptcy proceedings. You will need to file a proof of claim with the bankruptcy court to seek repayment. Keep detailed records of what is owed to you, as this documentation will be essential in the process.
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