Articles Tagged with small business

Wood blocks spelling small business and a cup of coffeeThere are more than 2.4 million small businesses in Florida, employing more than 3.2 million people. If you are one of them, you might be wondering if bankruptcy is an option to reduce your debt. Depending on how your business is legally categorized, you’ll be able to file a Chapter 7, 11, or 13 case. An experienced bankruptcy attorney in Jacksonville can help you determine if bankruptcy is your best alternative. Because Florida is a homestead exemption state, there may be some other things to keep in mind as well. Each of these can have different effects on your business.

What Types of Bankruptcy Can I File?

In the US, there are a few different types of bankruptcy filing categories, called “Chapters.” Chapters 7 and 13 are usually used by individuals for personal filing. Chapter 11 is used for businesses. These can all mean different things for a small business in Florida.