Author Archives: Jay Butchko
EIDL Hardship Accommodation Versus Reorganization Bankruptcy
Small businesses throughout South Florida are struggling with repayment concerning loans from the US Small Business Administration (SBA) provided as part of COVID-19 pandemic relief. In particular, many smaller companies in West Palm Beach and the surrounding area are facing repayment of loans received through the Economic Injury Disaster Loan (EIDL) program, provided by… Read More »
Inquiring About Bankruptcy
Struggling with debt can be anxiety-inducing and may feel endless, whether you are an individual or a business having difficulty repaying debt you have incurred. For individuals and business owners alike, debt problems and financial difficulties often lead to bankruptcy considerations and wondering whether or not it is time to begin inquiring about a… Read More »
When is Subchapter V the Best Option for a Small Business?
For any small business in the West Palm Beach area that is currently considering a bankruptcy filing, it is essential to speak with one of our West Palm Beach bankruptcy lawyers about your options and your plans for filing. There are many different types of business bankruptcy in South Florida, and it will be… Read More »
What Can I Do If I Was Billed for an EIDL Loan But Cannot Pay?
Did your business recently receive a bill from the US Small Business Administration (SBA) for a loan made through the Economic Injury and Disaster Loan (EIDL) program, or for another type of pandemic-related SBA loan? If you cannot pay, it is important to understand your obligations with regard to the loan as well as… Read More »
Medical Debt and Bankruptcy Among Older Adults
Medical debt can affect anyone, but it can become a more common burden among older adults who tend to have more significant health problems that require costly and ongoing care. Indeed, according to data from the Kaiser Family Foundation, “people typically use more health care often have higher health care expenses and out-of-pocket costs… Read More »
Nearly Half of Chapter 11 Cases Are Subchapter V Filings
For any small business owner in South Florida considering reorganization bankruptcy, the possibility of a Subchapter V filing should be something you discuss as soon as possible with an experienced West Palm Beach bankruptcy lawyer. Since it became available, a significantly large percentage of businesses have qualified for Subchapter V, as recent data from… Read More »
Renewing a Hardship Accommodation on an SBA EIDL Loan
Did your business receive a loan from the US Small Business Administration (SBA) during the pandemic, and are you currently struggling with the terms of repayment? For many South Florida businesses that received SBA loans, and loans through the Economic Injury Disaster Loan (EIDL) program specifically, there are no existing pathways for forgiveness through… Read More »
When Should an Individual File for Chapter 11?
When an individual (or married couple) is considering a bankruptcy filing, the individual will typically be considering and determining their eligibility for two different types of bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy. In general, Chapter 7 bankruptcy is a liquidation bankruptcy for individuals (as well as for businesses), while Chapter 13 bankruptcy… Read More »
Top Things to Know About Subchapter V Bankruptcies
Subchapter V is a relatively new type of bankruptcy that can make a reorganization bankruptcy significantly less complicated and less costly for smaller businesses in South Florida. Subchapter V became an option in terms of types of bankruptcy filings in 2020 when the Small Business Reorganization Act of 2019 (or SBRA) took effect. It… Read More »
What is the Appointment or Election of a Case Trustee?
Chapter 11 bankruptcy cases for businesses are often among the most complex types of bankruptcy cases. If you have a small business and limited amounts of debt, it is important to talk with a bankruptcy lawyer to determine whether your business could be eligible for file for the simpler and more streamlined Subchapter V… Read More »
