Modern Bankruptcy Solutions

With experience in both bankruptcy law and business management, I have the confidence & first-hand knowledge needed to guide you through the bankruptcy process. Together, we can find and implement the solution you need.

Customized Bankruptcy Solutions

Small Business Bankruptcy Services in Longmont

Based in Longmont, Serving Clients Statewide

Thriving as a small business in the 21st century already wasn’t easy. Rapid technology shifts make adjusting to consumer trends seriously challenging. Small businesses are always exceptionally sensitive to economic downturns. Now we are in the third recession in two decades, and the worst recession in living memory. Most small business owners are in pure survival mode.

I, Patrick O’Malley, am here to help your small business overcome severe financial adversity. With 50 years of combined legal and entrepreneurial experience, I understand what a business needs to thrive and what legal tools to use. While I primarily provide bankruptcy legal services, my focus is to find the best way for you to get out of your financial bind. Together, we can explore all options to determine which ones will most effectively accomplish your business and personal goals.

Are you a Colorado business owner looking for small business bankruptcy services? Call (720) 674-7311 or contact my firm online today to begin with a complimentary case evaluation by phone, video, or in our Longmont office.

Is Bankruptcy Right for Your Business?

Bankruptcy law is a centuries-old debt relief option. Today the process depends on which chapter of bankruptcy best serves your goals. There are numerous factors involved: the types and amount of debt, assets, income, profits, and contract and non-contract rights and obligations.

Business Bankruptcy Solutions helps you with these types of small business bankruptcy:

  • Chapter 7. Often called liquidation bankruptcy, the business owner dissolves the company and frees themselves from debt. If the business is to continue, it cannot use Chapter 7.
  • Chapter 11. Chapter 11 restructures the debt and contracts of a company. Small business owners use Chapter 11 Subchapter V. It allows the firm to reduce debt and modify contracts. Management continues in place, running the business and retaining the business assets. The business will need a reliable source of revenue, however, to qualify for the required three to five year payment plan.
  • Chapter 13. Like Chapter 11, Chapter 13 restructures debt into a payment plan. The plans last up to five years, eliminating debts by the end of the plan term, with no loss of assets. However, this option only available to individuals and sole proprietors, not business entities.

Each chapter of bankruptcy is unique, but all provide a powerful benefit: the automatic stay. A court order takes effect when the bankruptcy is filed. The stay prohibits creditors and debt collectors from most collection attempts.

Wish to explore other options outside of bankruptcy? I can also guide you with the best bankruptcy alternatives for your small business!

Let’s Get Started Today

Of all the steps you will take to help your business survive adversity, retaining professional and experienced support is the most productive. I founded Business Bankruptcy Solutions because I like putting my skills to work for entrepreneurs like you. When you need financial and legal solutions for your business, hire someone who knows where you are coming from and how to build the future you deserve.

Ending Creditor Harassment

The automatic stay is particularly powerful for businesses, because unlike consumers, businesses are not protected from creditor harassment by the Fair Debt Collection Practices Act (FDCPA). The FDCPA prohibits an extensive list of abusive and deceitful collection tactics. Consumers can sue debt collectors for such harassment. But businesses, along with an individual liable for commercial debt, generally do not have this protection.

Fill out an online contact form or call (720) 674-7311 to schedule your free consultation. I offer evening and weekend appointments to accommodate your schedule.

Finding Alternatives to Bankruptcy

Bankruptcy can have serious consequences. It is expensive, and it takes months or years to complete. Generally, a business will only benefit from bankruptcy if out-of-court contract and debt-relief options are impractical or insufficient.

This is why, when you work with me, I help you explore every alternative before choosing bankruptcy. We may be able to negotiate with landlords and creditors, or devise a new strategy for the business or assets, or even hibernate your business until economic conditions have improved. As a lawyer by training and businessman by nature, I have your best interests in mind and the requisite knowledge to help you succeed.

Meet Patrick O'Malley, Esq.

Lawyer, Advisor, Entrepreneur
  • Consultations, No Sales Pitch

    I offer two free consultations. The first meeting is to learn your facts and goals. Then my team researches and strategizes. I present your options in the second zero-pressure meeting.

  • Unique Approach

    My experience and perspective make me the ideal bankruptcy consultant. I deliver serious value to my clients by customizing ideal solutions for your goals and business operations. You will save a great deal of enterprise value by using good pre-bankruptcy planning.

  • Compassion & Care

    I’ve had business setbacks too. Stress, uncertainty, loss; I know what you are going through. You do not need to face it alone. I care about your goals. I want to help.

  • Decades of Experience

    I have been a lawyer for 19 years and a businessman for 30 years. I approach cases simultaneously as a lawyer and a business owner to determine the strategy and tactics.

Chapter 11 Bankruptcy
In February of 2020, Chapter 11 bankruptcy become much more accessible to small business owners because of the new Subchapter V. If you qualify, you may be able to retain ownership of your company while substantially reducing debt.

Client Reviews

    He's a really sharp guy who knows his stuff.

    “I’ve been working with Patrick O’Malley on real estate deals I’ve done during the last 3 years. He’s a really sharp guy who knows his stuff.”

    - H. Morgan Cavanaugh
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Bankruptcy Information