Small Business Bankruptcy Just Got Easier
The Small Business Reorganization Act of 2019 took effect on August 23, 2019. The new law eases requirements for small business bankruptcy in several ways. Now a trustee will be assigned to each case Now a standing trustee will oversee each case, assisting in the reorganization process and monitoring the business’s compliance with the Bankruptcy Code. The […]
Are All of Your Creditors Listed on Your Credit Report?
The credit bureaus have gotten pretty good about instantaneously obtaining and promptly reporting your personal financial information. The credit bureaus are big, savvy, and flush with cash. But are all of the creditors you owe listed on your credit report? Maybe not. These are some of the most common types of bills and creditors that […]
How Bankruptcy Promotes Entrepreneurship
Starting a business takes moxy, guts. Business owners can offset the risk of failure with feasibility planning and hard work. But many businesses fail, and our economy must not doom entrepreneurs to complete ruin. The truth is that failure is an inexorable characteristic of business. In a way, the availability of bankruptcy promotes entrepreneurship. Only one in […]