The beginning of 2020 brought new challenges for businesses. Many people in various industries have been forced to close their doors, making it impossible to keep up with their expenses. This event has caused businesses to close down and has left many people without income.
Important Information About the CARES Act (Small Business Reorganization Act
To respond to the economic crisis facing the nation, Congress amended the Bankruptcy Code and introduced the “Coronavirus Aid, Relief, and Economic Security Act, which is also known as the “CARES Act.”
Under this new law, businesses are eligible to file their bankruptcy as small business debtors. At least 50% of the debtor’s total debt must be related to business activities. This provides much relief for businesses who are struggling financially and require immediate attention.
Seek Help From an Experienced Bankruptcy Lawyer
If you are researching bankruptcy during this COVID-19 pandemic, it is highly recommended you work with experienced bankruptcy lawyers in Brighton Beach, NY.
Ursulova Law Offices has a knowledgeable bankruptcy team dedicated to helping businesses get through their financial challenges.
No matter your business’s financial situation, a lawyer can assist you at every step of your bankruptcy. Our legal team knows how to tackle even the toughest cases, including emergencies, foreclosures, and repossessions.
When Should I Get Started on Filing a Business Bankruptcy Case?
It is risk-free to consult bankruptcy lawyers in Brighton Beach NY. Speaking to a legal professional will provide much clarity about the options that await you.
Ursulova Law Offices has board-certified lawyers that will sit down with you to explain the whole process. You won’t have to be concerned with fees because we review all details of how we operate.
Bankruptcy can be a difficult decision, but it provides much-needed relief from debts and bill collectors. You want to make sure to follow legal advice to protect other assets at risk.
You have options to get through this financial crisis. Get the information and assistance you need to start the process. The sooner you take action, the faster you may return to working on building a stable financial future. Contact one of our bankruptcy lawyers in Brighton Beach NY today.
