Tampa Bay Attorney Offers Guidance On Updated Bankruptcy Provision

Top Quote Robert M. Geller of the Florida Bankruptcy Law Offices of Robert M. Geller, P.A. recently attended a two-day webinar presented by the National Association of Consumer Bankruptcy Attorneys.† † End Quote
  • Tampa-St. Petersburg-Clearwater, FL (1888PressRelease) June 12, 2020 - The webinar focused on small business bankruptcy cases under Chapter 11 subchapter V. Under the new bankruptcy code provision, which went into effect in February 2020, it is now much easier for businesses with debt under 7.5K to seek reorganization.†

    The provision gives a business or an individual in business†the exclusive right to file a plan.† †

    Moreover, the new provision allows an individual to modify the rights of a mortgage holder on their homestead if the money provided under the mortgage was not to purchase the home and was used in the person's business.† †

    Finally, the new provision reduces the cost of filing.† †

    According to Geller, "This is great news for the many individuals and business who have been financially affected by the recent Covid-19 pandemic."

    The National Association of Consumer Bankruptcy Attorneys is the only national organization serving the needs of consumer bankruptcy attorneys, while also protecting the rights of consumer debtors in bankruptcy. The organization has played a role in many important consumer bankruptcy court cases and offers comprehensive educational programs for consumer bankruptcy attorneys. Their goal is to help consumer bankruptcy attorneys represent their clients more effectively.

    For questions about the seminar or to learn more about The bankruptcy law offices of Robert M. Geller, visit https://www.attorneyfortampabay.com. A free "virtual" consultation can be scheduled via the firmís website or by calling 813-254-5696.

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