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30150 Telegraph Rd, #444 Bingham Farms, Michigan 48025

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Serving Metro Detroit And Southeast Michigan

Sub Chapter V

Helping small businesses reorganize debt and save their companies

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What is a Subchapter V Bankruptcy?

In 2019, Congress passed the Small Business Reorganization Act (SBRA) to create Subchapter V of the U.S. Bankruptcy Code. This law reduced bankruptcy costs for debts of $2.7 million or less. It became effective in February 2020. But then came the coronavirus pandemic – and then Congress expanded the debt threshold to $7.5 million as part of the CARES Act, opening the door to not only small businesses but also slightly larger businesses to reorganize their debts, many of which grew due to the pandemic-induced lockdowns. It’s a great opportunity for businesses – but the process is complex, one you don’t want to face alone. Our experienced bankruptcy lawyers have an excellent track record in securing positive outcomes for their clients in Subchapter V proceedings. Contact us to learn how we can help you.

We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.

How Can a Subchapter V Bankruptcy Help Me?

Subchapter V bankruptcies allow your company to stagger your debt over three to five years. During this period, you must use your company’s disposable income to pay your creditors. It’s a win-win scenario because you’ll be able to spread your total debt payments over a longer period than you otherwise would have – and your creditors will recover more of their money than otherwise. You’ll retain control of your operations and assets, but you’ll have a third-party trustee to help you form an equitable plan with your creditors that ensures that all parties have the best chance at a favorable outcome. Additionally, you may also spread your administrative expenses throughout the payment period, giving you a better chance to pay the entire amount off over time. It’s a more streamlined process and usually costs much less than a regular Chapter 11 bankruptcy. If this arrangement sounds like a great chance at a fresh start, get in touch with one of our Subchapter V attorneys today.

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Discover If Subchapter V Is the Best Solution for Your Business

If your business has suffered a setback due to the coronavirus pandemic or another set of circumstances, a Subchapter V can offer hope. Meet with one of our experienced bankruptcy attorneys to look at your options. If a Subchapter V proceeding is your best option, we’ll stand by your side throughout the process. Let us help your business move forward – even amid challenging times. Make an appointment to meet with one of our bankruptcy lawyers today.

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