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23843 Joy Rd
Dearborn Heights, MI 48127
Monday – Friday : 9:00 am – 5:00 pm
Saturdays : 9:30am – 11:30 in office or by phone
We offer late night appointments as late as 6:30 by phone or in person Mon-Thur.
When facing financial difficulties in Redford, utilizing Chapter 11 bankruptcy can be the key to restructuring and regaining your financial stability. At Frego & Associates, our Redford Township Chapter 11 bankruptcy attorneys provide 24/7 legal support for you to regain control of your financial future.
From offering personalized legal solutions to ensuring continuity of your business operations during proceedings, the experience of our Redford Township Chapter 11 lawyers is invaluable.
Call (313) 724-5088 today to connect with our local Chapter 11 lawyer and begin the process of your Chapter 11 bankruptcy.
Chapter 11 bankruptcy is primarily designed for you if you’re a financially struggling business owner looking to restructure your operations and debt. This type of bankruptcy filing allows you to work closely with your creditors and the court to create a feasible repayment plan. [1]
A Chapter 11 case starts with filing a petition in the bankruptcy court where you reside or have your business. This petition can be voluntary (bankruptcy filed by the debtor) or involuntary (bankruptcy filed by qualifying creditors). A business can claim if it has fewer than 12 creditors, or has unsecured claims of $18,775. If there are 12 or more creditors, we can examine the situation to see if it still qualifies. 11 U.S. Code § 303.
Unlike other types of bankruptcy filings, Chapter 11 enables your businesses to maintain most or all of your assets while reorganizing your financial affairs. The restructuring process aims to help your businesses remain operational while responsibly addressing your debts. Filing for Chapter 11 might be appropriate for you if your business requires time and a strategic approach to repay creditors.
For Redford Township business owners in financial distress, understanding and utilizing Chapter 11 can provide a viable path to achieving long-term financial stability.
Chapter 11 bankruptcy focuses on helping financially distressed businesses reorganize debts and maintain operations. In contrast, Chapters 7 and 13 are more individual-focused.
Here’s a quick comparison:
File for a Chapter 11 bankruptcy when your business can’t meet debt obligations but still has a solid operational foundation and potential profitability. Early filing can help avoid more severe financial damage and preserve business relationships and assets.
Taking swift action to file for Chapter 11 enables businesses to leverage court protection to halt creditor actions while formulating a strategic plan for debt reorganization.
To embark on this journey, collaborate with our proficient Redford Township Chapter 11 bankruptcy lawyers at Frego & Associates. Our bankruptcy attorneys can help craft a detailed strategy to present to the bankruptcy court and creditors, ensuring you emerge from the process stronger and more resilient.
Frego & Associates, Michigan’s largest bankruptcy filer for the past 20 years, offers invaluable support to businesses in Redford Township facing Chapter 11 bankruptcy. With a primary focus on tailoring legal solutions to fit your unique needs, our experienced bankruptcy attorneys provide the guidance every step of the way.
Through compassionate service and professional dedication, our Redford Township bankruptcy lawyers empower you to stabilize your financial situation and keep your businesses afloat during challenging times.
Services offered:
We are open now! Get in touch with our top-rated Chapter 11 bankruptcy attorneys in Redford Township today to discuss your bankruptcy needs. Contact us for your free Chapter 11 consultation today.
Source:
[1] Chapter 11 – Bankruptcy Basics. (n.d.). United States Courts. https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-11-bankruptcy-basics
Received Accolades:
206-2010, 2012, 2014-2021
American Bankruptcy Institute
Certified as a Bankruptcy Specialist by ABC
National Association of Consumer Bankruptcy Attorneys
Better Business Bureau
23843 Joy Rd
Dearborn Heights, MI 48127
Monday – Friday : 9:00 am – 5:00 pm
Saturdays : 9:30am – 11:30 in office or by phone
We offer late night appointments as late as 6:30 by phone or in person Mon-Thur.