How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Roger Your Own Question
Roger, Attorney
Category: Bankruptcy Law
Satisfied Customers: 30898
Experience:  BV Rated by Martindale-Hubbell; SuperLawyer rating by Thompson-Reuters
Type Your Bankruptcy Law Question Here...
Roger is online now
A new question is answered every 9 seconds

my husband and i own a framing company who ...

This answer was rated:

my husband and i own a framing company who subcontracts from a large builder, he has recently gotten into a financial trouble and we are not getting paid what is owed to us, if he files bankruptcy, where does that leave us, he owes us alot of money.

If the contractor files bankruptcy, you'll be an unsecured creditor, which means banks and other parties that have secured loans (collateral) will take precedent over you.

If the debtor has any money, you'll be entitled to some pay, but if not, you'll probably lose a good bit.

IF there are any jobs in which the owner has not paid the contractor for your work, you can have a stop payment notice issued to the owner. This will result in the owner paying you directly instead of paying through the contractor.

You should probably speak to an attorney in your area about taking care of this soon.

Roger and other Bankruptcy Law Specialists are ready to help you

Related Bankruptcy Law Questions