How Lawmakers Could Help
The panelists made a few suggestions for making bankruptcy easier for small businesses. One suggestion was cutting the amount of information a small business must file during a case. Also suggested was giving owners of small businesses access to a financial professional who could serve as a guide through problems. A more complicated suggestion was to allow small businesses who go through a bankruptcy to keep their businesses if they promise to pay the companies' past debts with future profits. It remains to be seen if lawmakers were persuaded to change how small businesses file for bankruptcy.
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