Gina G asked:


Have a small business and have a customer that has run up a debt and their company is now filing bankruptcy. How does a business go about collecting from the business. We are a small business also there has to be laws to help protect us also. Need some advice on how to legally go about being paid as a creditor. Also if a business says they are filing bankruptcy is it public record and what sites show this record.

Mark I asked:


The company that I work for has filed for bankruptcy (reorganization). They are telling us that they no longer have to honor our earned vacation pay, regardless of the years we have. Is this true?

Cherant asked:


I think the question says it all. And if you can, roughly include what you call the levels of bankruptcy, I heard level 7 is the highest. Thanks! Let’s hope we learn from this question!

aikon56 asked:


In recent news, companies could be forced to Bankruptcy. Is this the same as “companies can be forced into Bankruptcy Protection”?

I thought Bankruptcy protection is “PROTECTION” against Bankruptcy?

Blah B asked:


I am in the process of filing bankruptcy and i was just wondering if some people out there who have gone through it or know of someone who has can tell me what to expect. I am filing for a full bankruptcy.

Mz216 asked:


I work for a company that I believe will file bankruptcy soon. We are on a 4 year union contract. Dose the company legally have the right to renegotiate our wages before the contract is up?
Thanks John. What if the employees say no way to a cut in pay? Then what do they do?