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I just found out the company I work for is filing for Chapter 11 bankruptcy. What does this mean to me and what should I do?The company is based out of New Jersey, and up until I got a letter today with a notice of filing and a proof of claim form I had no clue about it. They do owe me some money that should have been paid several pay cycles ago, but I am unsure how much, since most of the work is tiered payments,. Should I leave the company and cut my loses now or stick it out and see what happens. I am worried I will not be paid for any work I perform or have performed in the past several weeks. Any advice would be appreciated Attorney answers (1)
Reputation Level 14
Answered over 2 years ago.
Bankruptcy Attorney in Worcester, MA.
I am not licensed in your state however I can offer some general advice.
AS for staying or leaving the company that is up to you, however, jobs have been tough to come by these days and leaving without having another job may not be a good idea. As for the money they owe you, you need to file out the proof of claim form if you want to ever see even a percentage of the money they owe you. You should consult a local attorney who will be able to help you with your case and your state’s laws. Good luck. Robert Kovacs
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