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January, 2020 | Iowa Bankruptcy Attorney

New Small Business Reorganization Act

Posted by: Kevin Ahrenholz

A new subchapter has been added to the bankruptcy code making it easier for small businesses with debt of less than $2,725,625 to seek protection under Chapter 11 of the bankruptcy code.  Previously a Chapter 11 requires so much detailed reporting and documentation that it has been impractical for a small business to file a Chapter 11.  The burdens and costs in doing so were too high, and Chapter 11 bankruptcies were reserved mainly for larger businesses that had sufficient cash flow to justify the time and expense involved.  The new provisions provide some new protections for small businesses that may make filing a Chapter 11 bankruptcy worthwhile going forward.  Chapter 7 bankruptcy will still be available for liquidating small businesses, and business owners can still take advantage of a Chapter 7 or Chapter 13 bankruptcy.

Posted on Saturday, January 25th, 2020 and filed under Bankruptcy | Comments Off on New Small Business Reorganization Act .
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Stop foreclosure with Chapter 13

Posted by: Kevin Ahrenholz

Are you facing the foreclosure of your home?  Has your mortgage company stopped working with you or accepting your payments? A Chapter 13 bankruptcy can be the solution.  If you can afford your monthly mortgage payments, but simply cannot catch up on arrears, a three-year to a five-year Chapter 13 plan could be the solution to helping you catch up, giving you time to become current, and delaying the sheriff sale for the time it takes you to become current.  If you successfully complete the Chapter 13 plan, you will come out on the other side completely caught up on your mortgage, with the foreclosure action dismissed, and you may have discharged or eliminated some of your other unsecured debt (such as credit card debt or medical bills) in the process.  Call Iowa bankruptcy attorney Kevin Ahrenholz today to see if Chapter 13 bankruptcy is the best solution for your situation. He is a bankruptcy lawyer serving all of Iowa, including Cedar Rapids, Des Moines, Waterloo, Mason City, Davenport, Dubuque, Marshalltown, Ames and Ft. Dodge.  Call today at 1-877-888-1766.

Posted on Thursday, January 23rd, 2020 and filed under Bankruptcy | Comments Off on Stop foreclosure with Chapter 13 .
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