News Summary

• If you owe $5,000 to a company that goes out of business, you still have to pay it.
• Your unpaid bill is an asset of the company, so the company could still try to collect.
• If the business isn't in a position to collect the unpaid amount itself, it could transfer or sell the debt to someone else, like a collection agency.
• The best thing to do would be to set aside the payment still and wait for the official written instructions — the notice of assignment.