Has your contractor gone bankrupt or are you worried that you might? Your hard earned money is at risk, even if you have already been paid, YOU MIGHT HAVE TO GIVE IT BACK.
Learn the Bankruptcy basics and the things that you can to to best protect yourself and your money.
Learn the various Chapters of the Bankruptcy Code:
Chapter 7 - Liquidation
Chapter 9 - Municipality Reorganization
Chapter 11 - Business Reorganization
Chapter 12 - Farm Bankruptcy
Chapter 13 - Individual Reorganization
Learn the "preventative measures" you can take; know who you are doing business with; understand how bankruptcy can affect your money, your subcontract and your rights. Ensure fair terms in your contract; secure your debt owned to you; Keep your money where it belongs, in YOUR pocket; and avoid dealing with contractors and owners who have the potential to go bankrup
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