Top Philadelphia, PA Business Bankruptcy Lawyers Near You
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John R.K. Solt, P.C.
Business Bankruptcy Lawyers | Serving Philadelphia, PA
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The Law Offices of David M. Offen
Business Bankruptcy Lawyers | Philadelphia, PA
View ProfileIn Philadelphia, Pennsylvania, The Law Offices of David M. Offen, a local practice, helps clients with their Business Bankruptcy problem.
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Wilson, Elser, Moskowitz, Edelman & Dicker LLP
View ProfileBusiness Bankruptcy Lawyers | Philadelphia, PA
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Philadelphia Business Bankruptcy Information
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Lead Counsel independently verifies attorneys by conferring with state bar associations and conducting annual reviews to confirm that an attorney practices in their advertised practice areas and possesses a valid bar license for the appropriate jurisdictions.
Find a Philadelphia Business Bankruptcy Attorney in your area
Business Bankruptcy
A Philadelphia 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.
Best Time to Seek Legal Help
No matter what your legal issue may be, it is always best to seek legal help early in the process. An attorney can help secure what is likely to be the best possible outcome for your situation and avoid both unnecessary complications or errors.
The Importance of a Good Consultation
The goal of an initial consultation is to find an attorney you are comfortable working with and someone who can help you understand your options under the law. Seek to understand the relevant legal experience the attorney brings to your case. While it is not realistic to expect an attorney to resolve your legal issue during an initial consultation, you should gain a level of comfort with his/her ability to do so. A good consultation can clarify issues, raise pertinent questions and considerations for your case, and help you make an informed decision towards resolving your legal issue.
Points to Consider Before Hiring a Lawyer
Experience. Regardless of the type of legal matter you need help with, an experienced attorney will usually be able to get you better results.
Competence. Determine an attorney's expertise by asking about their track record for the issue you need help with resolving.
Fit. There are plenty of good attorneys out there; make sure you find one you are comfortable working with.