Sub Chapter V Bankruptcy Attorney In Annapolis, Maryland
What Is A Subchapter V Bankruptcy?
In 2019, Congress took a significant step to support small businesses by introducing the Small Business Reorganization Act (SBRA). This important legislation established Subchapter V of the U.S. Bankruptcy Code, with the primary goal of making the process of bankruptcy more affordable for businesses facing debts of $2.7 million or less. Designed with the needs of small businesses in mind, the law became effective in February 2020. However, in light of the devastating impact of the coronavirus pandemic, this law was swiftly adjusted to provide additional relief. Under the CARES Act, the debt threshold was expanded to $7.5 million, which allowed not only small businesses but also slightly larger entities that were affected by pandemic-related lockdowns to restructure their debts more effectively.
Navigating this complex opportunity may initially seem daunting for many business owners, but help is at hand. Geri Lyons Chase, a knowledgeable professional based in Annapolis, Maryland, is available to guide you through the intricate process of Subchapter V proceedings with ease and confidence. With a steadfast commitment to securing positive outcomes for her clients, Geri Lyons Chase is dedicated to understanding your unique situation and providing tailored assistance. Don’t hesitate to reach out and learn more about how she can help your business navigate this complex journey towards financial stability and a brighter future.
Call Law Office of Geri Lyons Chase at 410-573-9004 to schedule a consultation with a lawyer today.
How Can a Subchapter V Bankruptcy Help Me?
In Annapolis, Maryland, Geri Lyons Chase offers invaluable guidance for companies considering Subchapter V bankruptcies. This legal route allows businesses to stagger debt repayment over three to five years using their disposable income, providing a beneficial situation for both the company and its creditors. With this approach, your business retains control over operations and assets, while a third-party trustee works with you to create a fair repayment plan. This method facilitates a smoother and often more cost-effective process than a standard Chapter 11 bankruptcy, offering a manageable way to handle administrative expenses across the payment period. If you believe this path could be the fresh start your company needs, reach out to Geri Lyons Chase for professional assistance in navigating your financial recovery.
Discover If Subchapter V Is the Best Solution for Your Business
If your business in Annapolis, Maryland, has been adversely affected by the coronavirus pandemic or has faced other significant challenges, there is a pathway to recovery and renewed hope through the option of Subchapter V. Geri Lyons Chase is eager and prepared to meet with you to discuss and explore the various options available. Should a Subchapter V proceeding emerge as the most suitable course of action for your business's unique circumstances, Geri will be your dedicated advocate, providing guidance and support every step of the way. With her experience, you can feel confident in navigating the complexities of this process. Let Geri Lyons Chase be your ally in helping your business move forward, even amidst these difficult times. Don’t hesitate to take the first step toward recovery—schedule an appointment today to discuss how you can work together to move toward a brighter and more prosperous future for your business.
Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.
Have Questions?
Get the fresh start you deserve. The Law Office of Geri Lyons Chase offers experienced, compassionate bankruptcy guidance.
Call us at 410-573-9004 today to speak to an attorney.