Experienced Bankruptcy Attorney For Businesses And Individuals

Bankruptcy is a major undertaking. In many cases, it may be the best avenue for overcoming financial insolvency. However, given the complexity of federal bankruptcy laws and procedures, it’s not something to navigate alone.

I’m James B. Jameson. For nearly 40 years, I have successfully guided individuals and businesses through the bankruptcy process. I’m familiar with all aspects of bankruptcy. I’ve even served as a bankruptcy trustee in Chapter 11 cases. I handle small business bankruptcy cases, large-scale business reorganizations and individual bankruptcies throughout Texas and Colorado.

When you’re facing such a critical financial crossroads, you can rely on my proven experience and wealth of knowledge to secure the debt relief you need.

What Are The Different Types Of Bankruptcy?

The federal Bankruptcy Code establishes several types of bankruptcy. They’re named for their location in the Code. I focus on the three following types.

Chapter 7 Bankruptcy

Also called “liquidation proceedings,” Chapter 7 is available to individuals whose income and assets are below a certain limit. It’s also an option for businesses seeking to liquidate.

In Chapter 7, the bankruptcy court appoints a trustee to handle selling assets and satisfying creditors. This takes the burden off the shoulders of the individual or business.

If you’re pursuing Chapter 7 as an individual, it’s important to note that some of your assets and property may be exempt from liquidation, meaning you won’t have to give them up. As an experienced Chapter 7 attorney, I can advise you on the specifics.

Chapter 11 Bankruptcy

Also referred to as reorganization or restructuring, Chapter 11 provides businesses with the opportunity to regain solvency by restructuring their debts. It centers on a plan of reorganization to satisfy creditors while remaining in business. The plan must be approved by the bankruptcy court as well as creditors and certain stakeholders. A trustee may be appointed to manage the business while the reorganization plan is in effect.

Chapter 11 is also an option for individuals with significant debts that exceed the limits for Chapter 13.

A Chapter 11 bankruptcy may eventually convert to a Chapter 7 case if the reorganization plan isn’t successful.

Subchapter V Bankruptcy

A subchapter of Chapter 11 reorganization, is Sub-Chapter V. This option streamlines the bankruptcy process for small businesses to reorganize debt while remaining in control. It’s simpler and more streamlined than Chapter 11. Creditors don’t have to agree to the reorganization plan, which removes a potential roadblock.

Businesses must meet certain eligibility requirements to pursue Subchapter V, including a debt limit.

Chapter 13 Bankruptcy

This type of bankruptcy is available to individuals and sole proprietors who meet certain eligibility requirements. It centers on a three- to five-year repayment plan that gives debtor the ability to catch up on payments and discharge qualifying debts.

Frequently Asked Questions About Bankruptcy

Below are some common questions I hear about bankruptcy. I am also happy to answer your questions during a free initial consultation.

Do I lose everything if I file bankruptcy?

Generally, no. The Bankruptcy Code protects certain assets from getting liquidated during bankruptcy.

How do I know if I qualify for bankruptcy relief ?

The Federal Bankruptcy Code outlines the requirements for bankruptcy filing. Qualifications differ depending on what sort of bankruptcy you are filing. For example, the Chapter 7 bankruptcy process differs from Chapter 13, so the requirements may vary.

But regardless of what type of bankruptcy you file, you must file a petition with the bankruptcy court, identify your assets, income and debts, and appear before a bankruptcy trustee or judge. The judge will look at your personal situation to see if you qualify. Every circumstance is different, so speaking with a qualified bankruptcy attorney is always a good idea to determine whether bankruptcy is right for you.

Are there any alternatives to bankruptcy?

Yes. Some alternatives include debt settlements, loan modifications/workouts, debt consolidation and refinancing. I can advise you on potential alternatives for your situation.

Can I file bankruptcy without a lawyer?

Yes; there’s no requirement to have a lawyer in bankruptcy proceedings. However, given the complexity of bankruptcy, it’s wise to enlist an attorney who has experience in this area. Without a lawyer, you could miss important deadlines, fail to meet certain requirements and miss out on opportunities for a better outcome.

I offer full representation in bankruptcy proceedings as well as consulting services for those who are considering bankruptcy but do not wish to hire a lawyer.

Start Weighing Your Debt Relief Options With A Trusted Bankruptcy Lawyer

I am here to provide the guidance you need to make the right decision for your situation, whether that involves bankruptcy or other debt relief options. To get started with a free initial consultation, please call 713-280-3250 or contact me online.

I’m licensed in both Colorado and Texas, with convenient offices in Houston and Steamboat Springs. I also offer virtual consultations.

I am a debt relief agent. I help people file for bankruptcy relief under the Bankruptcy Code.