Denver Business Bankruptcy
Facing financial difficulty as a business owner can be overwhelming. However, you may be able to find some relief by filing a business bankruptcy in Denver. This form of bankruptcy allows your business to continue operating while you also pay back creditors. For close to a decade, Our Denver bankruptcy attorneys have been helping business owners find relief from debt.
If you are a corporation, sole proprietorship, or partnership, you may be able to file a Chapter 11 bankruptcy, also known as a B2B bankruptcy in Denver. Following are some benefits of a Denver bankruptcy filing:
- It protects the jobs of employees
- It allows the business to keep functioning
- Debt is reduced over time through a repayment plan
- The personal assets of stockholders are not at risk
For additional information on Denver b2b bankruptcy, contact the Law Offices of Charles E. Longtine, PC.
Facts about business bankruptcy in Denver
Following is additional information you should know about business bankruptcy:
- Stockholders investments will be affected if stock declines as a result of bankruptcy
- Sole proprietorship involves the assets of any owners and the business itself
- The assets of the partners may be used to pay back debts in a partnership bankruptcy case
- A skilled attorney can assist you in setting up a Denver business work out
When Chapter 7 is necessary
Sometimes Chapter 7 in Denver is required instead of business bankruptcy. Unlike business bankruptcy, Chapter 7 involves liquidation of all assets in an attempt to payback creditors. Chapter 7 offers you a debt free new beginning. Chapter 7 is a better alternative to having a Denver business work out in the following situations:
- Your business is failing and has no future
- The debts of the business are so substantial that restructuring is simply not an option
- Your company has no assets or qualities that cannot be recreated after bankruptcy
Contact the Law Offices of Charles E. Longtine, PC today
There is no need to wait until creditors are garnishing your wages or threatening to foreclose on your home. The sooner you contact us, the more help we can provide. For Colorado residents seeking debt relief, the first step in resolving your financial problems is to speak to our bankruptcy law firm in Denver.
