Q: Can I retrieve funds owed to me from a now defunct refinance company/LLC in Georgia? I refinanced with them in 2008.
The name of the refinance company was Foundation Financial Group, LLC in Georgia. Another company today is using that name, an insurance and liability company.
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A:
Retrieving funds from a company that has been defunct since 2008 can be challenging. First, verify the status of Foundation Financial Group, LLC as of your refinancing period. Check with the Georgia Secretary of State to see if the company was dissolved, filed for bankruptcy, or if there were any liquidation proceedings that might affect your ability to claim owed funds.
Next, investigate if there were any successor companies or if the assets were transferred to another entity. Sometimes, when a company closes, its assets and obligations are taken over by another firm. You may need to contact the current Foundation Financial Group to inquire if they have any records or responsibilities related to the original LLC.
Additionally, be aware of the statute of limitations for financial claims in Georgia, which typically is six years for contract-related issues. Given that your refinancing occurred in 2008, the window to file a claim may have passed. Consulting with a legal professional who understands Georgia’s laws can provide you with specific guidance and help determine if any exceptions apply to your situation.
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