Legal Question in Credit and Debt Law in New York
Hi,
My father's business basically went bankruptcy.
So we are getting lots of collection letters demanding payments and he also received two judgements.
But we don't have any assets or properties they can go after. so nothing really happened so far.
(we ran business for about year and a half but were forced out by landlord because we could not keep up with
rents. We made interest payments on the loans for quite a while but stopped after business got shut down)
It is been about a year since the business is closed but my father has not filled personal bankruptcy yet.
So the business is closed, no personal assets, my father no longer works and I am supporting the family.
My question is; we are planning to move because of my job and should we notify debtors of new address?
we don't respond to collection letters. My assumption is that because my father is physically still here
(although he doesn't respond or make payments), all they can do is sending collection letters or
filling a civil lawsuit and chase after our personal properties that do not exist.
But if we move without notifying them, won't they be able to claim it as criminal matter
saying that my father took out loans and disappeared without making payments?
Any input is appreciated. Thanks for your time.
1 Answer from Attorneys
You are not required to notify your creditors. The corporation should be legally dissolved. Your father is not personally liable for debts of the corporation.
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