Legal Question in Business Law in Iowa
business closed
My business has closed. I incorporated, now some customers who bought gift certificates want refunds, and are calling me at home, on my cell. There is nothing left in the business, we have sold off everything to pay off some of our debt and have arrangements to pay off the others on contract. Can they sue me for the money? Should my company file for bankrupcty?
Asked on 9/29/07, 5:16 pm
1 Answer from Attorneys
Robert Luedeman
solo practitioner
Re: business closed
If you made yourself personally liable for some or all of your company's debts they can collect. They may not recover but they could still sue you. I would recommend a bk as that will cut off all claims but not the bad feelings people will have for you.
Answered on 9/29/07, 8:12 pm
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