Dearborn Heights, Michigan

Chapter 11 Lawyer

One of the Best Bankruptcy Attorneys in Dearborn, MI

Office Location

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.

Highly Recommended

Get a Free Consultation

Are you faced with Chapter 11 bankruptcy in Dearborn Heights, Michigan?

Frego & Associates’ Chapter 11 lawyers in Dearborn Heights, Michigan, are here to help you navigate through this challenging process. With our expertise and experience, we can provide the guidance and support you need to protect your rights and secure a favorable outcome.

Don’t let the stress and uncertainty of Chapter 11 bankruptcy overwhelm you. With Frego & Associates on your side, you can have peace of mind knowing that we will fight for your best interests and work tirelessly to achieve the most favorable resolution for your case.

Contact Frego & Associates today to schedule a consultation with our skilled Chapter 11 lawyers and take the first step toward financial recovery. Don’t face this difficult situation alone – let us be your trusted advocates and guide you towards a brighter future.

Are you faced with Chapter 11 bankruptcy in Dearborn Heights, Michigan?

What Does Chapter 11 Bankruptcy Mean?

Chapter 11 bankruptcy refers to a legal process that allows businesses to reorganize their affairs, debts, and assets while remaining operational. [1] Unlike other forms of bankruptcy, Chapter 11 bankruptcy aims to provide an opportunity for businesses to restructure their operations and financial obligations, rather than liquidating their assets.

This plan outlines how the business will address its financial obligations, including repayment of debts, renegotiation of contracts, and selling or restructuring assets. It must be approved by the United States Bankruptcy Court, which oversees the reorganization process.

One key feature of Chapter 11 bankruptcy is that it allows businesses to develop a reorganization plan tailored to their specific needs. This flexibility allows businesses to identify and address issues that have led to financial distress, such as unsustainable debt levels or inefficient operations. [2]

How Does Chapter 11 Work?

Here’s an overview of how Chapter 11 works:

How Does Chapter 11 Work?

Who Is Eligible to File Chapter 11 Bankruptcy?

Nearly anyone can file for Chapter 11 bankruptcy, including individuals, business owners, businesses, partnerships, joint ventures, and limited liability companies (LLCs). There is no specified debt-level limit or specified capita income requirement for eligibility. [4]

Here are some of the specific eligibility requirements for Chapter 11 bankruptcy:

Why Should I Hire a Chapter Dearborn Heights, Michigan 11 Lawyer?

Connect with our team today to discuss your unique situation and discover how our legal expertise can be instrumental in navigating the complexities of Chapter 11 bankruptcy.

Why Should I Hire a Chapter Dearborn Heights, Michigan 11 Lawyer?

Sources:

[1] Dollarhide, M. (2023, February 13). Chapter 11 Bankruptcy: What's Involved, Pros & Cons of Filing. Investopedia. https://www.investopedia.com/terms/c/chapter11.asp

[2] Chapter 11 – Bankruptcy Basics. (n.d.). United States Courts. https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-11-bankruptcy-basics

[3] The Automatic Stay in Bankruptcy: An Overview. (n.d.). American Bar Association. Retrieved November 15, 2023, from https://www.americanbar.org/groups/gpsolo/publications/gpsolo_ereport/2022/september-2022/automatic-stay-bankruptcy-overview/

[4] Maverick, J. (2023, March 26). Chapter 11 vs. Chapter 13 Bankruptcy: What’s the Difference? Investopedia. https://www.investopedia.com/ask/answers/061815/what-are-differences-between-chapter-11-and-chapter-13-bankruptcy.asp

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

Office Location

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.

Highly Recommended

Get a Free Consultation

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