Choosing the Right Business Bankruptcy Attorney
When a business goes out of business, the company owner may be left to pay off creditors, and if he does not have sufficient resources to do so, he will need to file for bankruptcy protection. An experienced business bankruptcy attorney in Phoenix Arizona can help determine if filing for bankruptcy is an appropriate course of action.
There are two types of bankruptcy filings available for businesses: Chapter 11 (“reorganization”), and Chapter 7 (“liquidation”). A good business bankruptcy attorney can advise you on which option is best for your situation. Check out https://www.phoenixfamilylawyers.net/business-bankruptcy-attorney/ to find a skilled attorney for you.
Reorganization Bankruptcy
In a chapter 11 business bankruptcy case, the debtor proposes a plan that reduces or eliminates his/her debt. The reorganization plan must be approved by the bankruptcy court. This process is the most complex of the two bankruptcy types.
The plan must be able to satisfy all of the creditors. It must also be able to protect the assets of the business. This means that the debtor must agree with each of his/her creditors on the terms of the reorganization plan.
If the reorganization plan does not provide more money to the creditors than they would receive if the business were liquidated, the reorganization will fail. This is why it is crucial to choose a reputable business bankruptcy attorney who will work diligently to get you the results you need.
Business Litigation and Appeals
A business law attorney can provide you with legal services related to all aspects of your business, including commercial litigation, real estate, and debt relief alternatives such as bankruptcy. He/she can handle cases in all United States District Courts and the Federal Circuit Court of Appeals.
Bankruptcy can sound frightening, but a good business law attorney will guide you through the process and ensure that your rights are protected. He/she can also assist you in developing a strategic bankruptcy strategy that will protect your interests and lead to the best possible outcome for your situation.
Choosing the Right Business Bankruptcy Attorney
It is important to find a reputable business bankruptcy attorney in Phoenix Arizona who will provide you with the highest quality legal services. Ideally, you will have a lawyer who has a significant amount of experience in bankruptcy matters, can offer a detailed analysis of your circumstances, and will be available to answer any questions you might have during the legal process.
The attorneys of Dodge & Vega PLC can guide you through the bankruptcy process and help you avoid the potential consequences that can be associated with insolvency. They are committed to helping you start the process of rebuilding your credit and your life in a positive manner.
Our Firm is One of the Best in Arizona
At Dodge & Vega PLC, we are dedicated to providing top-notch representation and assistance to our clients in all areas of bankruptcy law. We take a personalized approach to each client’s case, and are highly skilled at handling the challenges that arise during the bankruptcy process. We have a proven track record of achieving positive outcomes for our clients in a variety of situations.