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A boutique Toronto law firm serving
clients across Canada since 1987

Jun 19, 2017

MY CUSTOMER STOPPED PAYING ME - IS THERE ANYTHING I CAN DO

If your customer (who owes you money) goes bankrupt, what are your options? Does your customer's bankruptcy put an end to the collection of the debt owing to you? Do you have to write off your debt? Have you no other options? These are just a few of the common questions that small businesses have to deal with every day. 

Debt collection is serious business. No small-businessman or small-businesswoman wants to have to walk away from his or her receivables. It is just too expensive to have to write-off debts owing to your company. Each of your invoices should be paid. That is only fair.

But customers do face financial challenges. They make serious financial mistakes and suffer catastrophic economic set backs. And then your customers refuse to pay your invoices. They reneg on their promises. They stiff you. They rob Peter to pay Paul. But are you going to be a 'Peter' or a 'Paul'? Isn't that the $64,000 question?

If you want to be a 'Paul', you need to find a lawyer who knows the ins and outs of the Bankruptcy and Insolvency Act. And the Fraudulent Conveyances Act. For more information, contact Papazian Heisey Myers at 416-601-2701.