Relax..Chapter 7, a get out of settlement free card

[zazen]

In the unlikely event you get sued, an incur some outrageous judgement, even in the hundreds of thousands, it can all be readily discharged via Chapter 7 in most states, so I've been reassured by several bankruptcy attorneys.  Nice to have that ace in the hole if things ever got out of hand. So even if they win big, they can still wind up losing...

[zazen]

errr....I meant get out of judgement free card...

[NotATarget]

IANAL, but your income level could play a role in determining Chapter 7 or 13, the latter of which I read has become more popular (not by debtors) and would result in a court ordered payment plan. Wouldn't that be jolly? IMO, it also misses the point of the exercise, that what is essentially a shakedown scheme is occurring...

[Robert Krausankas (BuddhaPi)]

if the company has little to no assets it would be smarter to simply dissolve the company as opposed to chapre 13..imho

[Matthew Chan]

To follow on to Robert's comment, we are talking about an administrative dissolution of a corporation.  Simply stop paying the state and they will dissolve your corporation within 1-2 years and it becomes a non-entity.

Bankruptcies will only help if you had a bunch of other debts you needed to discharge.  It would be crazy to pay and file bankruptcy over a small infringement claim.

A person who is determined to NOT pay a judgment can do a lot. This is why there aren't more lawsuits by copyright extortionists.  Judgments can be very difficult to collect from many people.

They prefer to get money "cooperatively".  Scaring the crap out of someone to pay is considered a "cooperative" endeavor because the victim willingly pays regardless of the underlying motivation.