Longmont Bankruptcy Lawyer
Call for a FREE Consultation: (720) 809-8310
Problems with debt can impact all aspects of a business and make for incredible
challenges. Fortunately, the U.S. government has recognized that businesses
of all sizes can struggle, and so provides the pathways businesses can
take when debt has become an insurmountable problem.
If your business is struggling with debt, bankruptcy might be an option
for you to find solid financial ground. The U.S. Bankruptcy Code was created
to help honest and unfortunate debtors who through a range of situations
have fallen on tough times. Although bankruptcy can enable debtors to
better manage their finances and find relief from debt through discharges,
the process, especially for a business, is not an easy one to navigate
At Jorgensen, Brownell & Pepin, P.C., our bankruptcy lawyers guide
clients step-by-step through their debt relief journeys by providing personalized
evaluations, exploring their options, and delivering the counsel and representation
they need to successfully handle the process.
Discuss your current situation and explore your debt relief options during
a FREE consultation. Call (720) 809-8310 to speak with a Longmont bankruptcy attorney.
Why Jorgensen, Brownell & Pepin, P.C.?
- More than 25 Years of Experience
- Focus on Personalized Service & Communication
- Step-by-Step Legal Guidance and Counsel
- FREE and Confidential Consultations
Debt Relief & Bankruptcy Services
As bankruptcy attorneys, we provide the comprehensive support local business
owners need to address their problems with debt, explore all available
options, and protect their rights. By focusing on all issues clients face,
and providing the assistance and tools required for future success, we
help guide clients through their legal journeys and toward a brighter
We can help with a range of debt and bankruptcy issues, including:
- Chapter 7 Bankruptcy
- Chapter 11 Bankruptcy
- Chapter 13 Bankruptcy
Chapter 7 and Chapter 11 Bankruptcy
When it comes to business bankruptcy, you will have the option to file
under Chapter 7 or Chapter 11 of the U.S. Bankruptcy Code. Because these
two Chapters entail different procedures, and because there are different
requirements and resulting effects, it is important to strategically choose
the Chapter of bankruptcy that works most appropriate for your particular
situation, needs, and goals.
Chapter 7 Bankruptcy – Also known as liquidation bankruptcy, Chapter 7 bankruptcy will
involve the liquidation of your available business assets to be used in
payment toward your debts. Following liquidation, remaining unsecured
debts can be eliminated through a discharge. The business, however, will
be dissolved. Please note that certain debts are considered non-dischargeable.
Chapter 11 Bankruptcy – Reorganization bankruptcy, as Chapter 11 bankruptcy is also known,
entails a lengthier process of restructuring your debts and creating a
Chapter 11 plan. There is no absolute limit on the duration of a Chapter
11 case. Upon confirmation of the Chapter 11 plan, prepetition debts will
be discharged. However, the Chapter 11 debtor is required to make plan
payments and is bound by the provisions of the plan of reorganization.
The confirmed plan creates new contractual rights, replacing or superseding
pre-bankruptcy contracts. Please note that certain debts are considered
non-dischargeable. Chapter 11 bankruptcy may be an option for business
owners who wish to keep running their business but simply need to realign
Chapter 13 Bankruptcy – Chapter 13 is very similar to Chapter 11 in that debts are reorganized.
Chapter 13 is available only to
individuals. However, if you operate your business as a sole proprietorship, Chapter
13 may be the right choice. A Chapter 13 payment plan will last three
to five years. At the end of the payment plan, any remaining debt you
owe on unsecured loans can be discharged. Please note that certain debts
are considered non-dischargeable.
While Chapter 7, 11, and 13 bankruptcy can halt debt collections actions
through an automatic stay, they vastly vary in scope and impact. Because
each Chapter of bankruptcy has its unique benefits, careful evaluations
with a proven lawyer are essential to choosing the right path, maximizing
benefits for your unique situation, and achieving your goals.
Take the First Step Toward Financial Freedom
At Jorgensen, Brownell & Pepin, P.C., we strive to provide insightful
and compassionate service backed by extensive experience, and we know
it can make the difference for struggling businesses. If you have questions
about your current financial situation, debt relief options, and how our
award-winning attorneys can help you, do not hesitate to take the first
step toward financial freedom by reaching out to our firm for help.
Contact us today for a FREE consultation.