Consumer Law, Warranties When A College Goes Out of Business Do You Still Have to Honor a Lawsuit?

[Sanfrancisco]

I attended New College of California, a small liberal arts college. In 2001, New College of California filed a civil lawsuit against me for tuition reimbursement. I had signed a promissory note. I failed to show up in court and they won. They were awarded approximately $10,000.00 - in 2001, and a lien was placed against my property. New College of California went out of business in 2004. They completely closed shop and closed out their books. Recently, I received a Substitution of Attorney notice. My question is - if a company becomes defunct, but was awarded a judgment - can they still collect on the judgement - years after they closed down?

Thanks.

Pamela

 

[Michael Wechsler]

Yes. Someone else probably bought the assets of the company, including its receivables. This won't be a walk, sorry.

 

[jharris352]

Someone took over their assets. You owe that someone the judgment.