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Honest help with Chapter 11 Subchapter V for people in and around Philadelphia. Meet entirely by phone or Zoom, or visit our Philadelphia office.
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100% VirtualMeet over Zoom, never leave homeFor a Philadelphia small business buried in debt, Subchapter V can be the difference between closing and reorganizing. It’s a small-business version of Chapter 11, designed to be faster, cheaper, and simpler, that lets you keep operating and keep ownership while you restructure what you owe on a workable plan.
Who it’s for. Subchapter V is for small-business owners and business-engaged individuals whose total debts are under the Subchapter V ceiling. That ceiling is currently $3,424,000. It fits the restaurants, shops, trades, and service firms that make up so much of the city’s economy.
What it does. You file a plan to reorganize the debt, usually within roughly 90 days, stay in control of the business, and in most cases keep your equity. A Subchapter V trustee helps the case move, but you run the company. Skipping the creditors’ committee and the separate disclosure statement is what keeps it affordable enough for a small business to use.
What it’s like. Your case is filed in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania, where Mike practices regularly and has served on the court’s local bankruptcy rules committee. He handles business reorganizations personally, from filing through confirmation of your plan.
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A Chapter 11 Subchapter V filed from our Philadelphia office goes through the U.S. Bankruptcy Court for the Eastern District of Pennsylvania (Philadelphia). Mike practices there regularly and stays with your case from the first call through discharge.
We help people across Philadelphia, Bucks, Chester, Delaware, and Montgomery County and throughout Pennsylvania.
Yes. You stay in possession and keep running the business while you reorganize, and owners usually keep their equity. That's a core feature of Subchapter V, the goal is to save the business, not liquidate it.
For a qualifying small business, generally yes. It removes the most expensive pieces of a standard Chapter 11 and runs on a faster timeline, which is what made Chapter 11 realistic for smaller companies in the first place.
Faster than a traditional Chapter 11. The plan is generally filed within about 90 days of filing the case, and the streamlined process keeps things moving from there.
Free consultation over phone or Zoom. No obligation, just honest answers.
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