Category: Business Bankruptcy

Subchapter V: A Simpler Type of Business Bankruptcy

In the days before the Covid-19 pandemic, a new chapter of bankruptcy was created to make small business bankruptcies faster and cheaper.  This new “Subchapter V” could not have come at a better time. Subchapter V was recently made more…

Bankruptcy and Sales Tax Problems

A sales tax debt is a tough debt to have. Because of penalties and personal liability, bankruptcy may sometimes be the only way to manage a tough sales tax problem. What is the sales tax and who is required to…

Chapter 11 Bankruptcy Reorganization in a Nutshell

Unlike in Chapter 7 and Chapter 13 bankruptcy, creditors have a vote on what happens in Chapter 11.  Chapter 11 bankruptcy is sometimes used by individuals who are over the Chapter 13 debt limits, but most of the time businesses…