The Effects of COVID-19
The coronavirus pandemic may have pushed small businesses that only recently been financially stable to consider bankruptcy options, including Subchapter V. While bankruptcy filings, especially in the Chapter 11 category, are lengthy and not always advised, an unprecedented pandemic may warrant the necessity to file. Filing for Subchapter V of Chapter 11 can allow small businesses to pause their financial and business obligations momentarily to negotiate with lenders, landlords, and other creditors.
Small businesses should be careful about filing for Subchapter V if they are uncertain, though, because the process will require extensive time and research into the necessary financial documents to move forward in the legal process efficiently. Additionally, note that the U.S. Small Business Administration indicates that applicants subject to a bankruptcy proceeding are ineligible for the Paycheck Protection Program (PPP).
Call (561) 220-2528 to Get Started Immediately
If you are looking to file for bankruptcy under Subchapter V of Chapter 11, it is very important that you consult an experienced bankruptcy lawyer about your next steps. Julianne Frank, Esq. has extensive experience working with struggling small businesses in Jupiter, Florida with bankruptcy litigation, and you can be sure that she will put her skill and knowledge to use in your case. However, be prepared to devote plenty of time to the litigation process, as the success of your case will depend on your ability to go the extra mile with Attorney Frank as you walk her through your financial documents and other relevant asset information.
For more information about Attorney Frank’s practice, schedule an appointment with her firm at (561) 220-2528 or online here.