Legal Question in Business Law in Nevada
Can I collect accounts receivable on a business that is closed?
2 Answers from Attorneys
How are you going to do that? You can try to pursue the owner(s) of the closed buainess, if they haven't filed Chapter 7 yet. Consult with an attorney in your area for specifics.
Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise
Franchise Attorney
If it was a corporation, you can go after the owners for two years after the closing. If it was a sole proprietorship, you have six years from the last payment. First, make sure that the business owner did not file for bankruptcy. Second, don't expect an attorney to take it on a contingency unless (1) over $50,000 is involved (2) the business owner is easily found.
If you would like to discuss for a small fee, you may email me for an appointment. [email protected]
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