Does Business Debt Help Me Qualify For A Chapter 7 Bankruptcy?
                     Does Business Debt 
Help Me Qualify 
For A Chapter 7 
Bankruptcy?
Roughly eighty percent (80%) of new 
businesses fail within the first eighteen (18) 
months and one-half (50%) of the new 
businesses fail after the first four (4) years.  
Only twenty percent (20%) make it past their 
five-year (5) anniversary. 
So, what happens to the business debt of 
small business owners if their business folds? 
Business owners who sign personal 
guarantees can be held liable personally for 
the debts. However, business debt helps you 
qualify for a Chapter 7 bankruptcy because 
the Means Test does not apply in bankruptcy 
cases where the debts are primarily business-
related debts. 
“Primarily” is defined as 50 percent or more of 
the total debt owed by the debtor. 
An experienced Florida bankruptcy attorney 
understands how to help a business owner 
qualify and file for debt relief under Chapter 7. 
 
If you have questions, please contact the Law 
Office of Tony Turner. Mr. Turner is an Orange 
Park Bankruptcy Attorney who offers a free 
bankruptcy consultation. If your business is 
experiencing cash flow or debt problems, 
contact The Law Office of Tony Turner by 
calling (904) 679-2020 for a free bankruptcy 
consultation with a Florida bankruptcy 
attorney near me. 
Bankruptcy lawyer Tony Turner assists 
businesses and business owners throughout 
Orange Park, Jacksonville, Lake City, Deland, 
St. Augustine, Deland, Daytona, and the 
surrounding areas explore bankruptcy and 
non-bankruptcy options for eliminating debt 
problems and