Legal Question in Business Law in Iowa

Client Owes Me Money

I run a small business who has had one client that ran up a very heafty bill to the tune of about $16,000. I found out that the client is changing ownership soon. Is there a way I can guarantee payment of my money?


Asked on 1/08/09, 6:34 pm

1 Answer from Attorneys
Robert Luedeman solo practitioner

Re: Client Owes Me Money

If you're unsecured you might have an issue but you need to make sure that whoever buys the business from your customer knows that there is a debt owed. You might also want to file a financing statement with the secretary of state so that there's a paper trail attached. That way the new owner can't throw up his hands and say he didn't know anything.

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Answered on 1/08/09, 8:18 pm


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