If a small business owner receives a "Notice of Filing" from a customer,he should:
A)send a second notice.
B)ask that customer for a portion of the purchase price up front.
C)arrange for a lockbox for future payments from that customer.
D)immediately file a proof-of-claim.

Question

Quizplus · Accepted Answer

Receiving a "Notice of Filing" from a customer usually indicates that the customer has filed for bankruptcy. In this case, it is essential to file a proof-of-claim to protect the small business owner's right to receive payment from the debtor's assets. Filing a proof-of-claim means informing the bankruptcy court of the amount owed and the basis for the claim. This is the best option for a small business owner facing a customer's bankruptcy.

If a Small Business Owner Receives a "Notice of Filing