What Does The New Chapter 11 Subchapter V Mean For Your SBA Loan?
Struggling small business or personal guarantors of an SBA loan can take advantage of the new Chapter 11 Subchapter V bankruptcy procedures.
Understand Subchapter V and how it can provide effective debt management programs and business debt relief. Contact Protect Law Group today!
Book a Consultation CallIf your business is struggling with overwhelming debt, it's crucial to explore all available options for relief. One such option is Subchapter V. At Protect Law Group, our team of SBA loan attorneys specializes in helping businesses navigate the complexities of Subchapter V and find concrete solutions for their financial challenges. Contact us to learn more!
Subchapter V is a bankruptcy provision specifically designed for small businesses with debt under $7.5 million. It offers an expedited and streamlined process for debt adjustment and provides business owners with a more manageable path to financial recovery.
One significant advantage of Subchapter V is its focus on debt management programs. Under Subchapter V, businesses can propose a debt repayment plan based on their current income and projected future earnings.
Subchapter V benefits for small businesses include easier plan confirmation, debtor-only plan filing, no disclosure statement requirement, contested plan confirmation, relaxed absolute priority rule, no creditors committee, and no quarterly U.S. Trustee payments. These changes result in faster, less expensive reorganizations.
Navigating Subchapter V requires the expertise of SBA loan attorneys. From strategizing debt management programs to guiding negotiations, SBA loan attorneys play a crucial role in ensuring a favorable outcome for businesses seeking business debt relief.
Subchapter V provides small businesses with an opportunity to regain control of their financial situation through efficient debt management programs and business debt relief. By understanding the provisions and benefits of Subchapter V and partnering with experienced SBA loan attorneys like those at Protect Law Group, businesses can navigate this process with confidence and pave the way for a brighter financial future. Contact our team today to discuss how Subchapter V can work for your business!
Millions of Dollars in SBA Debts Resolved via Offer in Compromise and Negotiated Repayment Agreements without our Clients filing for Bankruptcy or Facing Home Foreclosure
Millions of Dollars in Treasury Debts Defended Against via AWG Hearings, Treasury Offset Program Resolution, Cross-servicing Disputes, Private Collection Agency Representation, Compromise Offers and Negotiated Repayment Agreements
Our Attorneys are Authorized by the Agency Practice Act to Represent Federal Debtors Nationwide before the SBA, The SBA Office of Hearings and Appeals, the Treasury Department, and the Bureau of Fiscal Service.
The client personally guaranteed an SBA 504 loan balance of $375,000. Debt had been cross-referred to the Treasury at the time we got involved with the case. We successfully had debt recalled to the SBA where we then presented an SBA OIC that was accepted for $58,000.
Clients personally guaranteed an SBA 504 loan balance of $337,000. The Third Party Lender had obtained a Judgment against the clients. We represented clients before the SBA and negotiated an SBA OIC that was accepted for $30,000.
Client personally guaranteed SBA 7(a) loan balance of $58,000. The client received a notice of Intent to initiate Administrative Wage Garnishment (AWG) Proceedings. We represented the client at the hearing and successfully defeated the AWG Order based on several legal and equitable grounds.
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