Top Ray, ND Business Bankruptcy Lawyers Near You
Business Bankruptcy Lawyers | Williston Office | Serving Ray, ND
1331 9th Avenue NW, 2nd Floor, Williston, ND 58801
Ray Business Bankruptcy Information
Lead Counsel independently verifies Business Bankruptcy attorneys in Ray and checks their standing with North Dakota 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.
A Ray Business Bankruptcy can be a great option if your business is unable to meet its financial obligations and is looking to either restructure debt obligations or liquidate assets. Depending on your company’s current financial position, one or both strategies may be an option.
Business Bankruptcy Options
Provided the bankruptcy is not involuntary, your Business Bankruptcy Attorney may recommend either a Chapter 11 (“reorganization”), or chapter 7 (“liquidation”) bankruptcy to deal with your company’s financial issues.
A Chapter 11 allows a business to reorganize debts and pay off creditor’s over a period of time up to five years. A Chapter 7 liquidation forces the company to literally liquidate all assets, pay off creditors, and ultimately, stop operating. This is typically the least desirable option that your Business Bankruptcy Attorney will try to help you avoid.
What sort of issues can I seek legal help with?
Specialized legal help is available for most legal issues. Each case is unique; seeking legal help is a smart first step toward understanding your legal situation and seeking the best path toward resolution for your case. An experienced lawyer understands the local laws surrounding your case and what your best legal options might be. More importantly, there are certain situations and circumstances – such as being charged with a crime – where you should always seek experienced legal help.
Top Questions to Ask a Lawyer
- What is the usual process to resolve my case? How long will it take to resolve this?
- What are likely outcomes of a case like mine? What should I expect?
An experienced lawyer should be able to communicate a basic “road map” on how to proceed. The lawyer should be able to walk you through the anticipated process, key considerations, and potential pitfalls to avoid. Once you’ve laid out the facts of your situation to the lawyer, he/she should be able to frame expectations and likely scenarios to help you understand your legal issue.
Tips on Hiring an Experienced Lawyer with Business Bankruptcy Cases
The more experienced a lawyer is in legal practice, the more likely he/she will be able to bring about a successful resolution to your issue. Since experience matters, lawyers who’ve been practicing law for many years (with a successful track record) tend to be in high demand. You should look for information about a lawyer’s experience and ask questions during the initial meeting. It’s a very good idea to ask the lawyer how many years he/she has been practicing law and the expected outcome of your case.
Common legal terms explained
Affidavit – A sworn written statement made under oath. An affidavit is meant to be a supporting document to the court assisting in the verification of certain facts. An affidavit may or may not require notarization.