Reporting clients to collection agency?

Discussion in 'Law and Justice System' started by Ravi, Nov 27, 2011.

  1. Ravi
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    Ravi Diamond Member

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    I have a client that owes me $6,000. I haven't lost any money on the deal, aside from the profit. The company has since gone out of business but the principals are on the hook for the money, no?

    I don't really care about the money at this point, I just want to see their credit rating ruined.

    How does this work?
     
  2. Mr. H.
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    Mr. H. Diamond Member

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  3. RadiomanATL
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    RadiomanATL Senior Member

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  4. RadiomanATL
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    RadiomanATL Senior Member

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  5. Sherry
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    Sherry You're not the boss of me Supporting Member

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    It sounds like they've most likely already ruined their credit. If you don't care about the money, then why waste your time and resources.
     
  6. xotoxi
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    xotoxi Platinum Member

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    I'd personally waste the time and resources because it's the principle.

    You want it on record that this guy fucked you over just as he fucked over all his other creditors.
     
  7. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    You could always write nasty things about him on Internet message boards
     
  8. Mr. H.
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    Mr. H. Diamond Member

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    If you could hook up with others that are owed money, that could defray your share of any legal costs.
    If they were an LLC or LLP that might affect your ability to collect.
    At any rate, the sooner you act the better.
     
  9. Zander
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    Zander Platinum Member

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    If they signed a personal guarantee you can try to get a judgement against them personally. Then try to collect on the judgement. It's not easy, but business is business. They may agree to pay a portion in order to avoid the judgement. What is the maximum in your state for Small Claims court?

    Otherwise write it off and move on with your life.
     
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  10. Mr. H.
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    Mr. H. Diamond Member

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    In Illinois, a small claims court cannot force an individual to pay a debt.
    That's how I've read it anyway.
    Got a tennant that owes me about $.001 million.
     

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