Historically, large businesses and corporations have used Chapter 11 Bankruptcy to reorganize debt and set up a new financial business model. Because it is the most expensive form of bankruptcy, however, small business owners haven’t seen similar benefits. They have run into endless legal roadblocks and, ultimately, failed to create a repayment plan with creditors that allows them to continue running their business.
The Small Business Reorganization Act of 2019 addresses these obstacles. Effective on February 19, 2020, small business owners have exclusive access to Subchapter V of Chapter 11 Bankruptcy. It is tailored to their needs and limited resources, streamlining the entire process to help small businesses recalibrate their finances and achieve a new beginning.
Get in touch with our small business reorganization lawyers in Fort Lauderdale to learn more. Call today! Your initial consultation is free of charge.
Chapter 11 Bankruptcy has not been easy for all business owners. Without the resources and capital typically found in a large corporation, the costs and complex procedures have proven too difficult to overcome. With the Small Business Reorganization Act of 2019, however, this may no longer be the case. Our lawyers at LSS Law are fully prepared to help small business owners take full advantage of Chapter 11’s new subchapter.
If you are a small business owner, here are a few powerful benefits of Subchapter V:
Despite these potential advantages, successfully filing Chapter 11 Bankruptcy will require prior knowledge, relevant experience, and legal prowess. LSS Law believe small businesses are the backbone of the American economy, and we want to play a role in helping your business overcome today’s financial hardship and thrive for years to come.
Your business began with a vision, and coming to terms with current financial affairs may be painful. But we have full faith in your ability to surmount these challenges and turn that initial vision into a reality. To learn more about how Chapter 11 Bankruptcy may be the new beginning you need, get in touch with our legal team today.
Request your free consultation by calling LSS Law today.
The often times difficult Chapter 11 bankruptcy that traditionally favored larger companies is now available for small businesses through The Small Business Reorganization Act. Allows us to help you build a comprehensive strategy to navigate the process with the help our recognized team.
Contact us for a no-cost, no-obligation, bankruptcy strategy session.