Debts for Employee Wages

Wasson and ThornhillBusiness Bankruptcy

Debts for wages, commissions, and employee benefits may be priority debts, more likely paid. It depends on the timing and amount of the debt.     Our last dozen blog posts have been about “priority” debts. These are special unsecured debts that bankruptcy law treats better than the rest, called “general unsecured” debts. (Secured debts are a third main category … Read More

An Asset Chapter 7 Case

Wasson and ThornhillChapter 7

Most Chapter 7 cases are “no-asset” ones. So, what’s an “asset case,” and is it good or bad for you?