Top Royal Oak, MI Business Bankruptcy Lawyers Near You
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39209 Six Mile Rd., Suite 165, Livonia, MI 48152
Phoenix Law helps Royal Oak clients with their Business Bankruptcy needs.
400 Renaissance Center, Suite 2600, Detroit, MI 48243
28175 Haggerty Rd, 110, Novi, MI 48377
39395 West 12 Mile Road, Suite 200, Farmington Hills, MI 48331
26200 Lahser Road, Suite 330, Southfield, MI 48033
201 W Big Beaver Rd, Suite 1200, Troy, MI 48084
450 West Fourth Street, Royal Oak, MI 48067-2557
39400 Woodward Avenue, Suite 101, Bloomfield Hills, MI 48304-5151
2600 W. Big Beaver Rd., Suite 300, Troy, MI 48084-3312
500 Griswold St, Suite 2300, Detroit, MI 48226
10535 Farmington Road, Suite B, Livonia, MI 48150
33228 West 12 Mile Road, Suite 115, Farmington, MI 48336
44 1st St, Mount Clemens, MI 48043
10800 West Warren Ave, Suite 220, Dearborn, MI 48126
27777 Franklin Road, Suite 2500, Southfield, MI 48034
30057 Orchard Lake Road, Suite 200, Farmington Hills, MI 48334
2155 Butterfield Drive, Troy, MI 48084
301 W Genesee St, Suite 101, Lapeer, MI 48446
31000 Telegraph Road, Suite 280, Bingham Farms, MI 48025
803 W Big Beaver Rd, Suite 204, Troy, MI 48084
26211 Central Park Blvd, Ste 514, Southfield, MI 48076-4161
1900 W. Big Beaver Road, Suite 203, Troy, MI 48084
211 W Fort St, Ste 705, Detroit, MI 48226
2937 E Grand Blvd, Suite 308, Detroit, MI 48202
28475 Greenfield Rd, Suite 113 #7372, Southfield, MI 48076
Royal Oak Business Bankruptcy Information
Lead Counsel Verified Attorneys in Royal Oak
Lead Counsel independently verifies Business Bankruptcy attorneys in Royal Oak and checks their standing with Michigan bar associations.
Our Verification Process and Criteria
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.
Annual Review
Submit to an annual review to retain their Lead Counsel Verified status.
Client Commitment
Pledge to follow the highest quality client service and ethical standards.
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