From Inc · · 40s
Congress Boosts Small Business Bankruptcy Access
Congress raises Subchapter V bankruptcy debt limit to $7.5m for small businesses.
In brief
Congress raises Subchapter V bankruptcy debt limit to $7.5m for small businesses. Congress permanently increased the Subchapter V bankruptcy debt ceiling to $7.5 million, helping small businesses file without high costs. Originally reported by Inc.
Subchapter V Bankruptcy Expansion
Congress raised the Subchapter V bankruptcy debt limit to $7.5 million from $2.7 million.
Permanent Debt Ceiling for Small Businesses
The new limit is permanent, helping businesses plan without expiration risks.
Bankruptcy Process Benefits
Subchapter V offers faster, cheaper restructuring than Chapter 11 for small companies.
Rising Small Business Bankruptcies
Small business bankruptcies increased 63 percent year-over-year in August.
The short version
Congress permanently increased the Subchapter V bankruptcy debt ceiling to $7.5 million, helping small businesses file without high costs.
