Small Business Alert: Bankruptcy Debt Limits Soon Could Drop
Market uncertainties are causing some small businesses to struggle. If you're among them and are considering filing for bankruptcy, you may need to act fast. A temporary change in the laws that determine which debtors are eligible for certain bankruptcy protections is scheduled to expire in June 2024. Unless Congress passes legislation to extend the higher limits, fewer small businesses will qualify for these protections. Here's what you need to know.