Getting The Best Advise From A Business Bankruptcy Attorney About Chapter 11 Bankruptcy
If you have been struggling with business debts, it may be time to contact a business bankruptcy attorney in Phoenix. Filing for bankruptcy can help you get a fresh start and put your financial future back on track. But a bankruptcy filing can also be a frightening and stressful experience. Getting the best advice from a reputable bankruptcy lawyer is important to your case’s success.
A business bankruptcy is a voluntary legal proceeding filed by a financially troubled company seeking protection from its creditors. There are two main types of business bankruptcies – Chapter 7 and Chapter 11 – each of which offers different benefits to debtors.
The right business bankruptcy attorney will be able to help you decide which type of business bankruptcy you need.
Some businesses will be able to file under Chapter 11 and liquidate their assets, while others may be better off in a Chapter 13 case. The choice of which bankruptcy type to file will depend on the specific situation and the amount of debt you owe.
When choosing a bankruptcy attorney, it is important to find a reputable firm that has extensive experience with your particular type of business. It is also important to choose an attorney that you are comfortable with and can work well together.
The law firm of Duane Morris provides legal services to a wide variety of claimants and interest holders in bankruptcy cases. The firm represents official committees of unsecured creditors, lenders and private investment companies in complex cases, as well as individual claimants and equity holders, including debtors, secured and unsecured creditors, lessors, licensors and other parties to bankruptcy cases.
It is the goal of the firm to make sure that their clients understand what the legal process entails and receive the information they need to make informed decisions about their future. They provide constant updates, often through the firm’s popular weekly lending group reports, and ensure that their clients have access to all relevant information throughout the entire bankruptcy process.
Many business owners choose to file for bankruptcy voluntarily, while others are forced into it by their creditors. In either case, the decision is difficult for a business owner to make.
In addition to deciding on which type of bankruptcy to file, business owners must consider whether they want to keep their own businesses running while in bankruptcy or close them down. In some situations, it is a good idea to keep your business going while you are in bankruptcy, because you will be able to restructure your business’s debts and repay them over time.
Having the best business bankruptcy attorney in Phoenix on your side can be an invaluable asset when it comes to making the right decisions about your case. There are a number of top-rated, highly regarded attorneys in your area who practice bankruptcy law.
You will be able to find the best business bankruptcy attorney in Phoenix by doing your research and looking for an experienced attorney who can help you with your case. You can look at client reviews and ratings from leading platforms to determine the best fit for your needs.