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What happens when a corporation is sent to collections

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  • justbroke
    Creditors can follow your State's non-bankruptcy laws to collect debt. That usually includes dunning, hiring a collection agency, hiring a collection attorney, filing a lawsuit, obtaining a judgment, executing the judgment.

    I'm not really good at "C" Corporation as I had both an "S" declaration and an LLC. In any event, the creditor can still puruse the "C" Corporation and the assets of that corporation.

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  • What happens when a corporation is sent to collections

    My wife who owns a C Corporation recently received a letter from one of her providers threatening to send her to collections if they do not receive payment. My wife is trying to stay afloat until October, when the lease ends, she will be closing the business and filing for bankruptcy till then. What kind of legal action can the provider do to collect the money she owes them?

    Thanks in advance

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