Chapter 13 Bankruptcy for Small Business Owners

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.

Overview

Chapter 13 Bankruptcy for Small Businesses: An Overview

If you're a small business owner struggling with debt, you might wonder if a business bankruptcy in Chapter 13 would help you reorganize your debts and save your business. If you're a sole proprietor saddled with debt and struggling to keep your small business open, Chapter 13 bankruptcy might help you keep business assets, pay important creditors, and reduce the amount owed on debt.

Chapter 13 v. Chapter 7 for Businesses

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.

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