Business Debts And Workouts Lawyer Serving Leominster And Surrounding Areas

When businesses become saddled with mounting debt and their financial stability is failing, many business leaders believe that filing for bankruptcy is the only path available to save the company.

At Nickless, Phillips and O'Connor, a Fitchburg, Massachusetts, business law and bankruptcy law firm, we know that bankruptcy can give businesses a fresh start – but it is not the right choice for every business.

Finding The Right Path For Your Business

When you work with Nickless, Phillips and O'Connor, our lawyers take the time to learn your business. Then, we identify the best possible solutions to help you move your business toward a stronger financial future. Often, debt restructuring, also known as a "workout," serves as a viable alternative to bankruptcy, using a variety of different techniques and tools, including:

  • Trust mortgages
  • Assignments for the benefit of creditors
  • Compilations
  • Receiverships

Debt workouts allow businesses to avoid a drawn-out, expensive court process by reaching agreements with creditors through negotiation to modify debts. These arrangements allow debtors to satisfy financial obligations, while giving them the time and resources they need to revitalize the business.

We guide clients through every aspect of a debt workout, thoroughly evaluating possible options and explaining the short- and long-term effects that each carries. We understand that financial transactions are often time-sensitive, which is why we are both responsive and diligent, so that your rights are protected every step of the way.

Contact A Business Debt Relief Attorney Serving Worcester County

To schedule an initial consultation with a Fitchburg business debts and workouts attorney, contact Nickless, Phillips and O'Connor at 978-503-1482 or through our secure online form.

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