Top Farmington Hills, MI Business Bankruptcy Lawyers Near You
Loss Of Income, Reduced Income, Unexpected Medical Bills, Credit Cards or a Recession Can Quickly Take Over Your Finances and Leave You No Way Out. Get a Fresh Start Today.
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39209 Six Mile Rd., Suite 165, Livonia, MI 48152
Phoenix Law helps Farmington Hills clients with their Business Bankruptcy needs.
500 Griswold St, Suite 2300, Detroit, MI 48226
400 Renaissance Center, Suite 2600, Detroit, MI 48243
150 West Jefferson Avenue, Suite 100, Detroit, MI 48226
8900 Thirteen Mile Road, Warren, MI 48093
2600 W. Big Beaver Rd., Suite 300, Troy, MI 48084-3312
39395 West 12 Mile Road, Suite 200, Farmington Hills, MI 48331
660 Woodward Avenue, 2290 First National Building, Detroit, MI 48226
450 West Fourth Street, Royal Oak, MI 48067-2557
10800 West Warren Ave, Suite 220, Dearborn, MI 48126
28 W. Adams Ave, Suite 1500, Detroit, MI 48226
28175 Haggerty Rd, 110, Novi, MI 48377
30057 Orchard Lake Road, Suite 200, Farmington Hills, MI 48334
33228 West 12 Mile Road, Suite 115, Farmington, MI 48336
10535 Farmington Road, Suite B, Livonia, MI 48150
44 1st St, Mount Clemens, MI 48043
251 Diversion Street, Rochester, MI 48307
23938 Research Dr, Suite 300, Farmington Hills, MI 48335
31313 Northwestern Hwy, Suite 200, Farmington Hills, MI 48334
22260 Haggerty Road, Suite 110, Northville, MI 48167
201 West Big Beaver Road, Suite 500, Troy, MI 48084
24525 Harper Avenue, St. Clair Shores, MI 48080
39555 Orchard Hill Place, Suite 600, Novi, MI 48375
20700 Civic Center Drive, Suite 420, Southfield, MI 48076
Business Bankruptcy Lawyers | Serving Farmington Hills, MI
1301 West Long Lake Road, Suite 340, Troy, MI 48098
Farmington Hills Business Bankruptcy Information
Lead Counsel Verified Attorneys in Farmington Hills
Lead Counsel independently verifies Business Bankruptcy attorneys in Farmington Hills and checks their standing with Michigan bar associations.
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Ample Experience
Attorneys must meet stringent qualifications and prove they practice in the area of law they’re verified in.
Good Standing
Be in good standing with their bar associations and maintain a clean disciplinary record.
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Submit to an annual review to retain their Lead Counsel Verified status.
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What Is Business Bankruptcy?
Business bankruptcy is for businesses in financial trouble that want to clear or reorganize their debts. Corporations, partnerships, and sole proprietors can generally file Chapter 11 or Chapter 7 bankruptcy. Chapter 11 bankruptcy allows the business to continue operating while reorganizing debts, while Chapter 7 bankruptcy typically means closing or selling the business and liquidating assets.
What Are Some Examples of Situations Where I Might Need a Business Bankruptcy Lawyer?
If your business is struggling with debts that you cannot pay off, a business bankruptcy lawyer can explain your bankruptcy options. While not many people’s preferred option, bankruptcy can help your business discharge company debts or reorganize debts and continue operating. Business bankruptcy can also stop collection actions against company assets.
How Can a Lawyer Help Me With a Business Bankruptcy?
A business bankruptcy lawyer can review your company’s financial situation and represent you in the bankruptcy process. This includes:
- Explaining the benefits and downsides of Chapter 7 and Chapter 11 filing
- Ensuring that collectors stop harassing your business
- Negotiating with creditors for repayment
- Creating a reorganization plan to help your company return to profitability
What Could Happen if I Don’t Hire a Bankruptcy Lawyer?
Not hiring a bankruptcy lawyer can lead to costly errors and prolonged financial stress. If you don’t hire a bankruptcy lawyer, you might make mistakes in the bankruptcy process. These mistakes could lead to your case being dismissed. Without a lawyer’s guidance, you could miss out on important protections, such as stopping creditor harassment or preventing foreclosure. You might also choose the wrong type of bankruptcy, resulting in more financial trouble. Handling bankruptcy alone increases the risk of losing assets you could have kept and wanted to keep. Additionally, you may struggle to negotiate with creditors without a lawyer. This makes it harder to achieve a manageable debt repayment plan or discharge.
What Questions Should I Ask When Trying To Find a Bankruptcy Lawyer in Chicago?
These questions can help you decide if you feel confident that a lawyer has the qualifications, experience, and ability to manage your case well. Many lawyers offer free consultations that allow you to understand your options and get specific legal advice before hiring them. Top questions include:
- What is your experience in handling bankruptcy cases? Have you managed cases like mine? What was the outcome of these cases?
- Do you have experience resolving issues like this in Illinois?
- What is your approach to handling bankruptcy cases?
- What is your record in negotiating favorable debt repayment plans?
- How do you communicate with clients about the progress of their cases?
- How much input will I have about the case strategy?
- What are your fees and billing structure?
Tips for Hiring a Bankruptcy Lawyer
Finding a lawyer who is right for you and will represent your best interests is an important first step in protecting your rights. Find a lawyer who understands your case, knows your needs and goals, and has the experience to get the best outcome. Things to do:
- Ask for recommendations
- Research lawyers online
- Schedule consultations
- Review experience and expertise
- Talk about billing and fees
- Trust your instincts