Tag Archives: Bankruptcy Protection
SBA Loan Interest Rates and Small Business Bankruptcy: A Challenge for Tampa Entrepreneurs
Understanding SBA Loans in Tampa Small Business Administration (SBA) loans are a lifeline for many small business owners in Tampa. They provide essential funding needed to start, sustain, or expand a business. However, when SBA loan interest rates increase, it can throw a wrench into the plans of local entrepreneurs. Imagine trying to keep… Read More »
Florida’s Increased Vehicle Exemption
Unlocking Financial Freedom: Florida’s $5,000 Vehicle Exemption in Bankruptcy Filing for bankruptcy can feel like standing at the edge of a cliff. The fear of losing everything might grip you tight. But wait! In Florida, there’s a safety net—specifically for those who own vehicles. The $5,000 vehicle exemption can help you keep your ride… Read More »
In Bankruptcy Because of Seller Fraud in a Purchased Business
All too often we meet clients who moved down to Florida with hopes of being in business for themselves. The story is the same each time. Sadly, a bad business purchase can lead to the loss of life savings, retirement funds, and personal bankruptcy. Meet “Bob” from Michigan. Bob worked in the corporate world… Read More »
The Role of the Trustee in a Chapter 11 Subchapter 5 Small Business Bankruptcy
If your business is struggling to remain afloat, particularly as a result of the COVID-19 pandemic, you may be thinking about your options for a small business bankruptcy. Many restaurants and bars in Tampa Bay have been under immense financial strain, as have other types of retail establishments in the area. If you need… Read More »
Business Disputes Being Handled in Bankruptcy Court
If your business has filed for Chapter 11 bankruptcy protection in Tampa, what happens when a business dispute arises during the bankruptcy proceedings? For example, if you own a small company in the Tampa Bay area and are seeking to discharge your business debts through bankruptcy and an entity with whom you have been… Read More »
Chapter 11 and Paying Critical Vendors
If you own a restaurant or bar in the Tampa Bay area, or any other type of business, you may be thinking about filing for Chapter 11 bankruptcy if you are struggling to pay your debts. Given that many small businesses that were not designated as “essential” during the COVID-19 pandemic were forced to… Read More »
Recent Changes to Bankruptcy Law: What You Should Know About the Small Business Reorganization Act
Recent changes to U.S. bankruptcy law make it easier for small businesses and individuals to file for bankruptcy. More specifically, the Small Business Reorganization Act of 2019 (H.R. 3311), as well as the HAVEN Act (H.R. 2938) and the Family Farmer Relief Act of 2019 (H.R. 2336) have been signed into law and took… Read More »
Chapter 11 and Bank Account Garnishments in Florida
Most businesses in the Tampa Bay area that file for Chapter 11 bankruptcy expect that they will benefit from the automatic stay connected to their bankruptcy filing. The automatic stay is designed to prevent creditors from taking any additional actions to collect on debt, and in most cases the automatic stay prevents any lawsuits… Read More »
Chapter 11 for Medical Professions and the Health Care Ombudsman
If you are a health care business in Tampa Bay or are a medical professional who owns your own business in the Tampa Bay area, filing for bankruptcy can be extremely complicated. While businesses typically have the option of filing for Chapter 7 or Chapter 11 bankruptcy depending upon the business’s specific needs and… Read More »
Chapter 11 Post-Petition Payments to Food Vendors
When a restaurant or bar in the Tampa Bay area files for Chapter 11 bankruptcy, many of its suppliers may worry about whether they will receive payment for goods or services they have already supplied. Most vendors will assume that they will ultimately be repaid as long as they take the necessary steps in… Read More »
