Will Filing Bankrputcy Erase a Court Judgment?
Full Question:
A THE BOND COMPANY NOTIFIED THE CALIFORNIA STATE CONTRACTORS BOARD AND THEY NOTIFIED ME THAT MY LICENSE WOULD BE SUSPENDED IF THE MATTER IS NOT CLEARED UP BY JULY 7TH 2011.I'M FILING FOR CHAPTER 7 BANKRUPTCY AND NEED TO TO KNOW IF THIS WILL SATISFY THE BOND COMPANY AS PAYMENT IN FULL AND IF SO WILL THEY HAVE TO SEND A NOTICE TO THE CONTRACTORS BOARD TO RELEASE ME.I'M FILING FOR PERSONAL BANKRUPTCY AND THIS IS BUSINESS RELATED. HOWEVER ON THE AGREEMENT IT SAYS THAT I AGREE AS A FIRM AND INDIVIDUALLY TO FULLY INDEMNIFY THE SURETY CO. THIS IS A CORPORATION. MY WIFE AND I SIGNED THIS. HOWEVER SHE IS DECEASED.WILL BANKRUPTCY MAKE THE SURETY COMPANY HAVE TO SEND THE CONTRACTORS BOARD A NOTICE THAT JUDGMENT IS SATISFIED THEREBY SATISFYING THE CONTRACTORS BOARD? FORMER BOND COMPANY PAID A LOSS OF $1000.00 AND $2565.99 FOR THEIR ATTORNEY FEES. TOTALING $3565.99. IT WAS PAID OUT TO A MATERIAL SUPPLIER WHO WENT AFTER THE BOND.
06/07/2011 |
Category: Bankruptcy |
State: California |
#24986
Answer:
No, it will likely be your responsibility to show the board that the judgment was discharged in bankruptcy. We suggest contacting the board to inquire exactly what their requirements are to prove the matter has been resolved.