Employees are entitled to file claims against the debtor company for unpaid wages, salaries, commissions, vacation, sick and severance pay, as well as benefits. The bankrupt must pay income contributions if their income is above a certain threshold. If the bankrupt fails to pay, the trustee can issue a notice.
Your non-exempt assets are sold off by a court-appointed trustee to pay your debts to the greatest. United States law, figure out who pays what.
You may file for bankruptcy (voluntary bankruptcy ). Step 3: the creditor applies to the court to have you made bankrupt. If the court finds that you really have no means to pay back your debt, you declare bankruptcy. Sep The bankruptcy filer pays for the bankruptcy case.
Bankruptcy can stop foreclosure on your home, repossession of. Many receive the funds from family or stop paying certain bills until they can afford the fees. May This leads many to ask who pays for bankruptcy.