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Old 11-19-2014, 01:47 PM
sirwired sirwired is offline
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Join Date: Jan 2008
Posts: 814
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Quote:
Quoth Gilhelmi View Post
Crap. Let me guess, if they sue her for not paying their taxes, she will declare bankruptcy and they will not get a thing (because employees are on the bottom of the debt collection ladder, and of course she owes everyone money).

Well, then this has made me more grateful of my excellent employer.
While secured loans are above payroll, and payroll is technically lumped in with all other unsecured non-tax debt, on a practical basis, bankruptcy judges usually give employees a larger-than-proportional share of the crumbs left (if any) to help satisfy their back pay.
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