Best Law Firm in Pensacola Florida

With over 30 years of experience and a 98% success rate, our lawyers have helped thousands of Florida residents and eliminated millions of dollars. If you want to get out of debt fast, contact us now!

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Bruner Wright, P.A., is the best law firm in Pensacola Florida that puts its customers first. We focus on providing legal representation to businesses and individuals in bankruptcy and business litigation matters. We are also experienced in estate planning and probate matters. Our firm has extensive experience in these practice areas, resulting in our clients feeling a much-needed sense of calm during turbulent times.

If you’re facing financial hardship with your business in Pensacola FL and are unable to pay creditors or vendors, you may want to consider filing for business bankruptcy. While starting a business comes with risks, bankruptcy can offer relief and a fresh start for owners facing challenging situations. The right chapter of bankruptcy to file under will depend on the specifics of your case, so it’s essential to discuss your options with an experienced Law Firm in Pensacola Florida.

At Bruner Wright, we can help you navigate the complexities of business bankruptcy and provide guidance on the best course of action for your unique situation. To schedule a consultation, call us at 904.432.1200.

Bankruptcy Lawyer Tallahassee

Pensacola Full Service Law Firm

Bruner Wright P.A. is a premier, full-service law firm based in Pensacola, Florida, committed to safeguarding the interests of both businesses and individuals. Our team of experienced attorneys has a proven track record of delivering high-quality legal services, tailored to meet the unique needs of each client we serve.

Our firm specializes in a broad spectrum of legal areas, including bankruptcy law, business litigation, creditor’s rights, and more. We are dedicated to protecting our clients’ assets and rights, helping them make informed decisions for their futures. With decades of combined experience, we pride ourselves on our ability to handle even the most challenging cases with professionalism and efficiency.

At Bruner Wright P.A., we believe that every client deserves personalized attention and a comprehensive legal strategy. Our commitment to excellence and passion for protecting our clients’ interests has earned us a reputation as trusted advocates in the community.

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Advocating for You and Protecting Your Best Interests!

No matter the legal issue you’re facing, you can trust that our team of dedicated specialists will work collaboratively to secure the best possible outcomes. Our attorneys have expertise across various legal fields, ensuring that you receive comprehensive, expert representation tailored to your specific needs.

We understand that navigating legal matters can be complex and stressful, which is why we are committed to providing clear guidance, strategic advice, and unwavering support every step of the way. Whether you need assistance with business law, bankruptcy, litigation, or personal legal challenges, our team is equipped to handle your case with the professionalism and care it deserves.

As premier full-service law firm in Pensacola Florida, we take pride in our reputation for delivering results-driven solutions that protect the best interests of our clients. With a deep commitment to excellence and a personalized approach, we ensure that every client receives the attention and legal strategy necessary to achieve success.

When you choose Bruner Wright P.A., you’re not just choosing legal representation; you’re partnering with a firm that genuinely cares about your future and will relentlessly advocate for your rights. Let us help you move forward with confidence.

Bankruptcy info

Chapter 11

Some businesses facing financial difficulties may have the opportunity to recover, and in such cases, Chapter 11 bankruptcy could be the most viable solution. Chapter 11 allows a business to restructure its operations and develop a plan to repay certain debts over a specified period. As part of the process, the company may also have the ability to terminate certain burdensome leases or contracts, which can aid in restoring profitability.

While Chapter 11 offers businesses a chance to regain stability, it is a complex and often lengthy process that may not guarantee relief for every situation. It requires careful planning and negotiation, but for some companies, it can be a lifeline to regain financial health and continue operations.

business litigation

Chapter 13

Chapter 13 bankruptcy allows individuals to create a repayment plan to pay off many of their debts over a three- to five-year period. The court must approve the plan if it is fair and the debtor can afford the payments. Filing for Chapter 13 offers several key benefits, including asset protection and the ability to catch up on overdue car or mortgage payments. It can be especially useful for those with secured debts, such as a mortgage or car loan, that cannot be discharged under Chapter 7 bankruptcy.

For many sole proprietors whose business and personal assets are closely linked, Chapter 13 may be the most practical solution. This option enables them to protect both personal and business interests while managing debt repayment. However, it’s essential for business owners in this situation to consult with an experienced Jacksonville attorney to fully understand their legal options and rights under bankruptcy law.

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What Our Clients Say About Us

I had such a good experience with my case with this firm!! They are all very nice, reasonable and caring about your situation and super thorough. I filed a ch 7 in October 2018, was discharged in January 2019 (so fast only 3 months) bought my very first ever new car in March 2019.

Jessica A.

This is the best law firm I have have ever worked with. They were very honest, professional, and responsive. Robert and Trey worked very hard to create a best case scenario for me. My case was complicated and required high level negotiations. In less than 4 months, I received the best possible outcome! They were a lifesaver for me!

Melissa O.

Extremely knowledgable and experienced Bankruptcy attorneys who are compassionate and diligent for their clients. I have sent them many satisfied clients and will continue to do so because their fees are fair and their staff is top notch! A+ firm in my book.

Hal L.

Bankruptcy Options for Jacksonville  Businesses: Liquidation, Reorganization, and Debt Adjustment

Chapter 7 bankruptcy is utilized when a business has no future and is at risk of failure. It is commonly referred to as liquidation because the business debts are typically substantial, making any restructuring efforts nearly impossible. This chapter of bankruptcy law applies to any business structure.

Chapter 7, which primarily focuses on the assets of the sole proprietor, is suitable when the business possesses minimal assets.

To file for bankruptcy under Chapter 7, the applicant must undergo the Means Test. This test determines if the applicant’s income exceeds the allowed income level. In most cases, if the Means Test is not passed, filing for bankruptcy under a different chapter of the bankruptcy law becomes necessary. If the test is passed, the Chapter 7 petition is approved, and the business is dissolved.

This type of bankruptcy in Jacksonville, Florida involves the court appointing a trustee to assume control over any assets possessed by the business and distribute them among the creditors. For sole proprietors, the discharge is granted once all assets have been distributed and the trustee has received payment. Discharge is not granted to corporations or partnerships.

Chapter 7 bankruptcy is utilized when a business has no future and is at risk of failure. It is commonly referred to as liquidation because the business debts are typically substantial, making any restructuring efforts nearly impossible. This chapter of bankruptcy law applies to any business structure.

Chapter 7, which primarily focuses on the assets of the sole proprietor, is suitable when the business possesses minimal assets.

To file for bankruptcy under Chapter 7, the applicant must undergo the Means Test. This test determines if the applicant’s income exceeds the allowed income level. In most cases, if the Means Test is not passed, filing for bankruptcy under a different chapter of the bankruptcy law becomes necessary. If the test is passed, the Chapter 7 petition is approved, and the business is dissolved.

This type of bankruptcy in Jacksonville, Florida involves the court appointing a trustee to assume control over any assets possessed by the business and distribute them among the creditors. For sole proprietors, the discharge is granted once all assets have been distributed and the trustee has received payment. Discharge is not granted to corporations or partnerships.

Chapter 11 bankruptcy is the optimal choice when your business is facing challenges but has a high likelihood of recovery. This chapter is commonly utilized by corporations and partnerships, although it can also be employed if your sole proprietorship surpasses the income threshold for Chapter 13. In Chapter 11 bankruptcy, a trustee appointed by the bankruptcy court will oversee the operations of your business during the reorganization process.

This chapter entails formulating a plan that outlines the rights and responsibilities of the creditors. Chapter 11 bankruptcy allows for the termination of leases and contracts, retrieval of business assets, partial repayment of debts, and discharge of the remaining balance. Creditors vote on the proposed reorganization plan and submit it for court approval if it is deemed fair and equitable.

Chapter 11 bankruptcy can be an intricate and lengthy process that often fails. Confirmation from creditors could take anywhere between six months to one year for approval of your reorganization plan.

Pensacola Business Bankruptcy FAQs

The U.S. The U.S. The U.S. Bankruptcy Trustee reviews operating reports filed by debtors and tracks the progress of the case when compared with benchmarks that are set early in the case.

Not all business bankruptcy cases are filed voluntarily. Involuntary bankruptcy occurs when creditors file a petition to declare bankruptcy on behalf of the debtor. It can be under Chapter 7 or 11 of the bankruptcy law. To file an involuntary business bankruptcy petition against a company you must meet certain requirements. They include:

  • If three or more creditors petition the court, your company will be subject to the proceedings. However, if your company has fewer than 12 debtors, a single creditor can initiate the petition.
  • These creditors must hold non-contingent and undisputed claims that amount to at least $16,750, resulting from the debtor’s failure to pay their debts on time.
  • The custodian, who may also be an assignee of creditor benefit, has taken possession of your business assets.

Business bankruptcy can be circumvented through an assignment to creditors, which is regulated by state law rather than the U.S. Bankruptcy Code. In this scenario, the debtor (you) agrees to appoint an assignee who assumes control over all company assets and property. The assignee then liquidates these assets, and the proceeds are utilized to fulfill the creditors’ claims following legal requirements.

This approach serves as an alternative to Chapter 7 and Chapter 13 bankruptcy. However, it is governed by state laws and does not offer the automatic stay protection provided by bankruptcy for businesses. Choosing this option instead of bankruptcy can result in lower administrative costs and a shorter timeframe.

Chapter 7 bankruptcy is only a viable option if you are unable to sustain operations for your business. It entails the liquidation of all business assets and property, leading to the dissolution of the company. Chapter 7 bankruptcy might be the most suitable solution if you are insolvent or close to insolvency. The automatic stay is activated upon filing the bankruptcy petition, which prevents creditors from pursuing debt collection until the bankruptcy court has reviewed the case.

In most instances, a Chapter 11 bankruptcy is filed with the aim of restructuring and reorganizing a company’s financial affairs. It allows your business to continue operating while meeting its obligations to creditors. According to the bankruptcy code, the debtor has 120 days from filing the bankruptcy petition to submit a comprehensive reorganization plan. The court may grant significant extensions to this timeframe. Once the 120-day period has elapsed, the court will also consider the creditors’ plan. Legal representation by an attorney is necessary for any Chapter 11 bankruptcy, whether it is in Jacksonville, Florida, or any other location within the United States.

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