If you are a sole proprietor or general partner, Chapter 13 bankruptcy may help your struggling business. Through Chapter 13, you can keep your business and repay the business debt over a three to five year period. But there are limitations -- you can't file for Chapter 13 if your business is a corporation or limited liability company. And if you want to close your business, Chapter 13 might not be a good option.
Chapter 13 Bankruptcy for Small Businesses: An Overview
If you're a small business owner struggling with debt, Chapter 13 bankruptcy may help you reorganize your debts and save your business.
Chapter 7 vs. Chapter 13 for Small Business Owners
Not sure which type of bankruptcy is best for your small business? Learn the pros and cons of Chapter 7 and Chapter 13 bankruptcy.