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    Bradford65's Avatar
    Bradford65 Posts: 1, Reputation: 1
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    #1

    Apr 4, 2015, 02:56 PM
    Paying Restitution to a bankrupt company or one that no longer exists
    If you are ordered to pay restitution of say $100,000 to a company and the company goes bankrupt or out of business or even changes their name due to takeover... are you still required to pay restitution if court ordered. A company has now changed names 5 times because of terrible business and poor customer service but keeps getting away with it due to name changes.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,300, Reputation: 7691
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    #2

    Apr 4, 2015, 07:29 PM
    If it is merely a name change, it is the same business and of course you would owe it.

    If they go bankrupt, you will owe it, but may owe it to the bankruptcy court who would pay the money to the debtors.

    So yes you will owe it.
    J_9's Avatar
    J_9 Posts: 40,273, Reputation: 5644
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    #3

    Apr 4, 2015, 07:38 PM
    Many times, also, companies will sell your debt to another company. Yes it's legal, and yes you still owe it.
    smoothy's Avatar
    smoothy Posts: 25,495, Reputation: 2853
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    #4

    Apr 4, 2015, 07:41 PM
    I agree with the others... you owe it to the entity you owe it to, they aren't "getting away" with anything. You owe the debt to them or anyone who acquires their assets... you won't "get away" without paying it.
    Alty's Avatar
    Alty Posts: 28,318, Reputation: 5972
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    #5

    Apr 4, 2015, 07:45 PM
    A name change doesn't mean that you no longer owe the money to the original company.

    Fact is, you owe this money, and you won't get away with not paying back the money you owe.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,300, Reputation: 7691
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    #6

    Apr 5, 2015, 01:40 AM
    Also, since it is restitution, and part of the court sentence, even if, for some reason there was a civil reason not to have to pay, you still do, because of the criminal aspect of this. It is part of the terms of sentence, and/or probation.

    Also, since it is restitution, and part of the court sentence, even if, for some reason there was a civil reason not to have to pay, you still do, because of the criminal aspect of this. It is part of the terms of sentence, and/or probation.

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