Fredericksburg, VA asked in Bankruptcy for Virginia

Q: i was just wondering if a company files for chapter 11 will they still pay you

Related Topics:
1 Lawyer Answer
Juan E. Milanes
Juan E. Milanes
Answered
  • Bankruptcy Lawyer
  • Reston, VA
  • Licensed in Virginia

A: It depends. The company will require that you file a Proof of Claim with the Court in the proper format. The company will then proffer to the Court and/or certain creditors a Plan of repayment or reorganization. You may be a priority creditor that they desire to pay; you may be an unsecured creditor that gets paid in full, or paid nothing. Every case is different. You need to consult with a Bankruptcy Attorney in your area to take a look at this specific case and represent your interests.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.