If you owe a company money and that company files bankruptcy, what happens to your bill?
bryce r asked:
anybody else know about Ampd mobile? it may not be exactly bankruptcy but something is going down.
anybody else know about Ampd mobile? it may not be exactly bankruptcy but something is going down.
May 29th, 2009 at 4:53 pm
you won’t owe them anything, I believe.
They are going bankrupt and most likely won’t have to pay their bills because of, I doubt they will try to get any money owed to them in the process.
They may try at first, but not pursue….curious what others say!
May 30th, 2009 at 4:43 am
If a company you owe money too files bankruptcy, you will get a letter from an attorney handling it informing you of the filing and asking for immediate payment. This is not a collection letter at this time, but they must collect as much money owed to them as possible.
May 31st, 2009 at 1:28 pm
My fiance had an acct w/ Ugly Duckling, they went bankrupt/out of business & sold his acct to another collection agency.
June 2nd, 2009 at 12:50 am
The company going bankrupt owes money to other people (creditors). The receivables (money owed to the bankrupt company) is an asset. The creditors will vigorously pursue the receivables in an attempt to recoup the money owed to them.
In the case of Amp’d Mobile the failure of the business model is in large part due to the number of customers who have defaulted on their payments. Count on very aggressive tactics to collect the money owed to them.