By Jeff Field | Published April 15, 2022 | Posted in Bankruptcy | Tagged Tags: chapter 11, reorganization plan, small business bankruptcy, subchapter V | Leave a comment
Taking Advantage of Small Business Bankruptcy Protection
Until just two years ago, small businesses that ran into financial trouble couldn’t find much protection in the bankruptcy system. Reorganization under Chapter 11 was too expensive and filing for Chapter 7 would mean going out of business. Fortunately, today there is another, more useful bankruptcy option known as Subchapter V — a slimmed-down version Read More
Read MoreWhat if Your Income Is Too High for Chapter 7 but Your Debt Is Too High for Chapter 13?
For individual debtors, Chapter 7 and Chapter 13 are the most common personal bankruptcy filings in Georgia and likely in every other state as well. Both types have certain eligibility requirements, and in some cases, people may not qualify for either. Chapter 7 eligibility requires petitioners to pass a means test that considers their income Read More
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