Legal Question in Bankruptcy in Connecticut

Can I ask this question on a business Credit Application

I'm updating the Credit Application for the company that I work for. Can I ask the question ''Has a principle of your company, or your company ever filed for bankruptcy and if yes please explain''

Regards, Please try to respond asap. Thanks in advance


Asked on 2/10/05, 7:15 pm

1 Answer from Attorneys
Joel M. Grafstein Grafstein & Arcaro, LLC

Re: Can I ask this question on a business Credit Application

You should answer the question accurately. If you or the company have filed bankruptcy, then answer yes and then explain the circumstances. If there is no time limit (for example you filed 10 years ago) then you still have to answer truthfully. A bankruptcy filing is nolonger included on your credit after 10 years following your discharge.

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Answered on 2/20/05, 10:58 am


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