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Debt Collections Issues involved in the collection of debts, including car loans, student loans, credit cards, judgments and medical debts.

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Old 08-30-2005, 01:12 PM
rengs rengs is offline
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Location: Gaborone/Botswana
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Default How can unsecured creditors protect themselves
A private company owes me for the professional services rendered. In the meantime, the private company is planning to sell off its assets only to a new buyer. Then the private company may go for liquidation. Is it not indirect way to cheat its creditors, who are unsecured? What is the way out?
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Old 08-30-2005, 04:03 PM
aaron aaron is offline
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Default Cheating Creditors Out of Payment
It is a trick - but one that doesn't work in every states. (Some states make businesses sell their liabilities along with their assets.) It also may be that you can preempt them by bringing a legal action before they sell.
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