Article Date:
December 2009


Word Count:
580

 

 

Buyer Defaults on Business Seller’s Take-Back Loan


Some years ago, I sold my company’s assets. As part of the transaction, I took back a note for $250,000. After making 10 payments, the buyer declared bankruptcy.

 

We took the matter to court and won a judgment in my favor for the unpaid $200,000, including a lien for this judgment against the buyer’s real property.

 

Now, several years later, I have yet to collect a dime of the unpaid monies. Worse, the bank is in line ahead of me ... Log in to view full article.

Log in to view full article

Already a subscriber?

Email Address


Password


Log In Send me my password

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?
 
with a money-back guarantee
Clicky