How to collect dept if the company sold the business?

Question

How to collect dept if the company sold the business?

Answer 1

Find out exactly what was sold.

For example if only the assets were sold the original owner is responsible for the debt.

If the assets and liabilities were sold the new owner is responsible.

If the business went bankrupt and was sold out of bankruptcy then you are probably out of luck.

Hope this helps

Jerry-the-bookkeeper