accept a judgement?

[jenbow]

We have a vendor suing us for $7,000 for non payment of goods sold. We were served a complaint a month or so ago. I filed an answer and contacted the plantiffs attorney and told him we were filing BK. He called me back and said that the debt would go away but he wanted us to accept a judgement against the company. Our company is closing down and there are no real assets to this company except tools.

What does this mean?? We would never be able to open anther company??

[justasking]

No, it does not mean that you can never own another company ...

Do you own the business 100%? Are you dissolving the business completely or just temporarily?

IANAL but I believe a judgement against a dead company means nothing ... unless he files it back on the owners of the dissolved company.

Have you contacted a lawyer yet? What do they say for your state?

[jenbow]

Yes, we own the business 100% and it is closing completely for now. I am not sure if we can ever open another company. It depends on the economy and how our vendors react to our BK.. I just wonder if we just agree to a judgement what harm this will do to us. It seems too simple and I dont know the legalities.

I have an email into our attorney but I believe he is out on vacation right now.

[justasking]

Please know that there is nothing keeping you from opening another company after this one.

Heck, look at all the Big Names that filed BK in 2009:

http://www.totalbankruptcy.com/blog/big-names-file-bankruptcy-in-2009/

Last I heard, Trump has lots of businesses .... so please get that thought out of your head, because it is inaccurate.

Wait to hear what your lawyer says ...

[jenbow]

thanks just asking