Legal Question in Credit and Debt Law in Virginia

debt payment to chap 11 co.

My company was an LLC which folded last May '08. The company I was paying for my phone book ad is trying to collect. I don't have the money and they filed for chapter 11. Should I try to pay them? They are in NJ, I am in VA.


Asked on 5/12/09, 3:05 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: debt payment to chap 11 co.

The fact that they filed bankruptcy does not excuse your obligation to pay unless as a result of their filing they failed to perform their end of the bargain (i.e., failed to distibute the yellow pages). If you can't pay your bills, you may want to consider bankruptcy yourself.

Read more
Answered on 5/13/09, 5:06 pm


Related Questions & Answers

More Credit, Debt and Collections Law questions and answers in Virginia