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Are there any new bankruptcy laws for 2009 that might impact the way I file?
I have a business that is really struggling to pay debts and I’m afraid I’m going to have to declare bankruptcy for the business. Are there any new bankruptcy laws for 2009 that might impact the way I file?
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Answers (1)
The major change in the bankruptcy laws of 2009 was the Helping Families Save Their Homes act. This modification to traditional bankruptcy laws makes it easier for families declaring bankruptcy to save their homes. Since you are declaring a business bankruptcy, this law may not apply to you. In your situation, it is best to consult with an attorney experienced in business bankruptcy who can help you to determine the laws, rules and regulations related to a business filing bankruptcy.
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Posted by Christy Rakoczy on 22 Jan 2010