Legal Question in Credit and Debt Law in Nevada
Collections
The company I have credit with closed their business in the state that I live. They do have a location in another state. I was contacted by a previous employer of the company who told me to stop making my payment because the company was going to file bankruptcy. He also told me that they could not sue me in the state I live because their company was no longer existing here. The company does not use ooutside collection agencies, but rather in house, if that makes a diiferent. Is this true?
1 Answer from Attorneys
Re: Collections
None of that is true. You are still required to make the payments even if the company is in bankruptcy and they can always sue you in the state you live in. They would just hire a Nevada lawyer.
My advice would however be, that don't make any payments until you are sure that you will properly receive credit. Further, the longer you don't make a payment, the more that they are willing to settle for a lump sum, very much reduced amount.
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