Bought a PC from Comp USA with a big service contract. Comp went out of business, do I have to pay in full?

Question

Bought a PC from Comp USA with a big service contract. Comp went out of business, do I have to pay in full?

Answer 1

Yes, you have to "pay in full". You have a service contract from a company that is bankrupt which means they don't have enough money to pay thieir debts. You could probably get in line with the other debtors and perhaps you might recover 2 cents on the dollar a couple of years down the road. Sorry, but you are an unsecured debtor.