Business & Special Bankruptcies
Beyond consumer Chapter 7 and 13: how Chapter 11 reorganization and the small-business subchapter V work, Chapter 12 for family farmers and fishermen, filing as a sole proprietor or self-employed person, what happens to an LLC or corporation and its personal guarantees, and when creditors force an involuntary bankruptcy.
All Business & Special Bankruptcies guides
- Chapter 12 Bankruptcy for Family Farmers and Fishermen
Chapter 12 is a flexible reorganization for family farmers and fishermen. Who qualifies, how it works, and where to check current numbers.
- Should a Small Business File Chapter 7 or Reorganize?
Chapter 7 closes a struggling business; Chapter 11 or subchapter V lets it keep running. Here's how owners decide which path fits.
- Subchapter V: Small-Business Reorganization
Subchapter V is a faster, cheaper Chapter 11 track for eligible small businesses. Who qualifies, how it works, and where to check the current debt limit.
- Personal Guarantees and Business Debt in Bankruptcy
A personal guarantee on business debt survives even if the business closes or files bankruptcy - only your own Chapter 7 or 13 can discharge it.
- Bankruptcy for a Sole Proprietor or Self-Employed Person
Sole proprietors file bankruptcy personally, business and personal debts merge. How exemptions, tools, and self-employment income affect your case.
- Chapter 11 Bankruptcy Explained
Chapter 11 lets a business (or occasionally a person) keep operating while it reorganizes debt under court supervision. Here's how it works.
- Involuntary Bankruptcy: When Creditors File Against You
Creditors can force a debtor into Chapter 7 or 11 under 11 U.S.C. 303 — but only if strict rules are met, and losing petitions carry real penalties.
- What Happens to an LLC or Corporation in Bankruptcy?
A corporation or LLC gets no discharge in Chapter 7 - it liquidates. Owners are shielded except for guarantees, cosigns, and unpaid payroll taxes.