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SmileDirectClub Converted to Chapter 7

Reorg Blog

Relevant Document: Agenda Judge Christopher Lopez announced today that he will deny the SmileDirectClub debtors’ motion to approve a sale to DIP lenders and a structured dismissal of their cases and convert the cases to chapter 7, sustaining objections from former competitor Align

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Getting a Business Loan After Bankruptcy

Lendio

Type Description Chapter 7 Known as “liquidation bankruptcy.” Chapter 11 Aimed at businesses, allowing them to remain operational while reorganizing debts. Chapter 13 An individual’s debt is reorganized into a payment plan over three to five years. ” It involves selling off assets to pay debts.

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What Happens When a Business Has to File for Bankruptcy

Fundera

Small businesses have three basic options for filing for bankruptcy: Chapter 7, Chapter 13, and Chapter 11. Chapter 7: This is an option if you do not have a means to keep your business running, even with a restructure. Read more about small businesses filing Chapter 7.

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What Happens When You File for Business Bankruptcy?

Fundera

Business owners can file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy, depending on the business’s debt levels and financial situation. A Chapter 7 filing typically ends in the liquidation of the business, with the assets distributed among creditors. Chapter 7 Bankruptcy (Liquidation).

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How to Find and Choose a Business Bankruptcy Lawyer in 5 Steps

Fundera

Businesses can file for Chapter 7, Chapter 13, or Chapter 11 bankruptcy. Chapter 7 bankruptcy, also called a liquidation bankruptcy, is the most common type of bankruptcy. This is the chapter you file when your business can no longer afford to pay back debts.

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The Minimum Credit Score for a VA Loan

CreditStrong for Business

Here are the minimum waiting periods for VA loans: Foreclosures: Two years Chapter 7 bankruptcy: Two years after discharge Chapter 13 bankruptcy: One year after filing Notably, the bankruptcy waiting periods are shorter than they are for conventional mortgages.

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Intro To Cash Flow Management

Lendio

Chapter 7: Cash Flow Problem Learn common sources of cash flow problems and how to solve them. You may also be able to realize additional improvements by placing inventory orders in bulk, offering your customers discounts for prompt payments, or reviewing your products to determine which ones have the best sales.