MICHELLE PATTERSON LAW
 

On August 23, 2019, Congress passed the Small Business Reorganization Act of 2019 (SBRA), which became effective in February 2020; adding a new Subchapter V to Chapter 11 of the U.S. Bankruptcy Code, entitled “Small Business Debtor Reorganization.” What is most significant about the additional subchapter added under the SBRA is that its purpose is to allow small businesses the opportunity to reorganize their debt in a less complex, and possibly affordable, version of a chapt

The Chapter 7 is the most popular chapter, and is the quickest process (about 3 months) towards getting your financial fresh start.