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Small Business Owners - Don't Freak Out
Small Business Owners: Don’t Freak Out
As the Covid pandemic continues to upend our lives, small business owners – restaurants, retail stores, small manufacturers and the like – are wondering how they are going to salvage their businesses when society is ready to reopen. As a bankruptcy lawyer, I have already received several calls. My first response: Don’t Panic; Don’t Freak Out.
When you are ready to re-open, if you are way behind in paying your debts, you can seek bankruptcy relief under the Small Business Reorganization Act. Important points about the ACT:- Allows business to reopen and continue operations.
- Applies to small businesses with debts of less than $7.5 million.
- Allows business to reorganize, reduce, re-amortize or eliminate debt.
- Extends tax debt repayment over a 5-year period.
- Allows business to get out of unaffordable contracts and leases.
Keep fighting!
David B. Madoff
MADOFF & KHOURY LLP
Foxboro, MA
508-543-0040
madoff@mandkllp.com
www.madoffkhoury.comSmall Business Owners - Don't Freak O...Date and Time
Thursday May 14, 2020
12:00 PM - 1:00 PM EDTMay 14 at 12:00pm
Location
Virtual
Fees/Admission
Free
Contact Information
Kara Griffin
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