Legal Question in Business Law in Florida

business debt

Is there a statute of limitation for a business (corporation) to try to collect on an old debt from another corporation? The last purchase we made was in 2003/2004 and our company was shut down in 2004. Administratively dissolved by state in 2009. I had to sign a personal guarantee to open the account. There has not been a civil case or judgment obtained by them against us. The original company was bought out by another company and we have had no contact from them in years.


Asked on 7/17/09, 11:02 am

1 Answer from Attorneys
Sarah Grosse Sarah Grosse, Esquire

Re: business debt

"It depends." I think the issue here is the personal guarantee and on what kind of debt. You say there is no JUDGEMENT - but you did not say there is no CLAIM filed. The claim tolls the statute of limitations (among other things). You should speak to an attorney, giving him/her all the facts. The attorney can at least tell you what NOT to say or do until the statute of limitations has run.

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Answered on 7/17/09, 6:51 pm


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