If you operate a business, will be filing bankruptcy, and prefer not to pay a prior employee, take action so that debt is not a priority debt. Imagine that in the near future you’re closing down a business and filing bankruptcy. You owe an employee or independent contractor back wages or commissions. But you’d rather not pay that debt … Read More
If you owe an employee wages or benefits, it’s likely a priority debt. Same if you are owed wages or benefits. More likely to be paid.