BANKRUPTCY ATTORNEY BLOG

A 341 meeting, also called a meeting of creditors, is a required step in bankruptcy. Learn what happens, what questions the trustee may ask, what documents you may need, and how a bankruptcy attorney can help you prepare.

Small business owners struggling with overwhelming debt may find relief through Subchapter V bankruptcy, a streamlined process under Chapter 11 designed to make reorganization more affordable and efficient. But to qualify, your business must meet certain requirements—most importantly, the debt limits set by federal law.

The Small Business Reorganization Act (SBRA) was signed into law in August of 2019 and became effective in February of 2020.