Business Bankruptcy

01 Dec Can I File A Chapter 7 Bankruptcy For My Small Business Only?

The Small Business Entrepreneur: He employes half of all private sector employees, pays 44 percent of total U.S. private payroll, and has generated 65 percent of net new jobs over the past 17 years. The Small Business Administrationestimates that in the year 2009 552,600 new small businesses opened for businessand 660,900 closed, resulting inan annual turnover of about 10 percent. For small businesses that were owner operated with no additional employees,the turnover rates three times as high as for those with employees.
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12 Sep Chapter 11 Bankruptcy: The Good, the Bad, and the Ugly for Small Business

Chapter11bankruptcies for big companies make big news. There is theChrysler Chapter11, which is pretty much considered a success. There is the GM case, which is a bit more equivocal. And there are the perpetual airlineChapter11s. What you don't hear a lot about are small businessChapter11s. They...

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28 Aug Farm Bankruptcy Relief – Would You Qualify for Chapter 12?

Chapter 12 bankruptcy is debt relief for family farmers. It allows these farmers to reorganize their debts and save their farms and their way of life. But who qualifies as a “family farmer”? The bankruptcy code gives some guidelines, but does not always make it clear. Large agri-businesses do not qualify for Chapter 12. A family that grows a small vegetable garden in their back yard probably does not qualify. Among other factors, a family farmer is one who gets at least 50 percent of their gross income from their farming operation. But what does that mean?
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