Reorganize Your Business Debt To Protect Your Personal Assets
If you are the sole proprietor of a small business, you may have your personal finances tied to your business. If your business has suddenly taken a downturn due to current economic circumstances, you can protect your personal assets by reorganizing your debts through a Chapter 13 commercial bankruptcy plan.
Chapter 13 Is A Court-Supervised Restructuring Plan
Gibson Law Partners, LLC, has extensive experience guiding small business owners through the Chapter 13 process. We will work with your creditors to develop a court-supervised repayment plan to be overseen by a bankruptcy court trustee. In most cases, the repayment plan is structured to meet your rescheduled debt obligations over three or five years and may include personal consumer debt. When you fulfill the terms of the structured repayment plan, you emerge from bankruptcy free from the original debt.
Contact Us To Learn More
If you need debt relief from your creditors while you rebuild your business, talk to us about our bankruptcy services. From our offices in Lafayette, we represent business owners in commercial bankruptcy filings throughout Louisiana.