Top Memphis Business Bankruptcy Lawyers Near You

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Holly Schumpert, Attorney at Law

Business Bankruptcy Lawyer | Memphis, TN

Free Consultation

901-323-9000

A Memphis Bankruptcy Attorney Committed to Your Best Interests

For both individuals and businesses. Ms. Schumpert has worked hard to achieve her reputation for success and dedication to her clients, thanks to her significant effort to understand each client's individual needs and provide them with a custom plan of action specific to the facts and circumstances in each case. From the time you call Ms. Schumpert's office until …

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The Law Offices of Philip F. Counce

Business Bankruptcy Lawyer | Memphis, TN

Free Consultation

901-458-0555

Will Bankruptcy Help? Call Today to Speak with an Experienced, Dedicated Bankruptcy Attorney.

For people who feel they are hopelessly behind on their bills and are drowning in debt, there is hope for getting a fresh financial start. Bankruptcy is a powerful tool when used by a qualified professional that allows most people to keep property, eliminate debts and get a second chance. At The Law Offices of Philip F. Counce, we have helped thousands of people …

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O'Brien Law Firm, LLC

Business Bankruptcy Lawyer | Memphis, TN

662-349-3339

Problems with Debt? Take Back Control of Your Life....Call Today for a Free Consultation.

If you have lost your job in today's difficult economy, and are struggling to make mortgage payments and support your family — if a dependence on credit cards or mounting medical debt has put you in serious financial difficulty — you need solutions for debt relief, and you need them now. Since 1997, Southaven bankruptcy attorney Kevin F. O'Brien has been …

Business Bankruptcy Lawyers in Memphis

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Memphis Business Bankruptcy Information

Business Bankruptcy

A Memphis 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.

Top Questions to Ask When Hiring an Attorney

  • How many years have you been practicing law? How long have you practiced law in the local area?
  • How many cases similar to mine have you handled in the past?
  • What is the likely outcome for my case?

In legal practice, experience matters. An experienced attorney will likely have handled issues similar to yours many, many times. Therefore, after listening to your situation, the attorney should have a reasonable idea of the time line for a case like yours and the likely resolution.

Tips on Approaching an Initial Attorney Consultation

  • Use the consultation as a means of gaining a better understanding of your legal situation.
  • Ask the attorney how many cases similar to yours he/she has handled. An attorney's experience and knowledge can speak to their expertise (or lack of) in addressing your situation.
  • Your attorney should be able to articulate roughly how long a case like yours will take to resolve and what sort of procedures to expect.
  • Determine how comfortable you are working with the lawyer and/or law firm.

How will an attorney charge me?

A reputable attorney will be very upfront about how he/she will charge you. The three most common fee structures that attorneys use to charge for their services are:

  • Bill by the hour
  • Contingent fee agreement
  • Flat fee agreement

Depending on your specific legal situation, it's possible that only one type of fee structure is available. For instance, criminal defense attorneys almost always bill by the hour. In a flat fee arrangement, an attorney accepts a one-time payment to help you resolve your issue. With a contingent fee agreement, the client pays little to nothing upfront and the attorney receives a percentage of the money recovered if you win your case.

Common legal terms explained

Plaintiff - a person or party who brings a lawsuit against another person(s) or party/parties in a court of law. Private persons or parties can only file suit in civil court.

Judgment - A decision of the court. Also known as a decree or order. Judgments handed down by the court are usually binding on the parties before the court.

Lead Counsel Rated Attorneys

Lead Counsel's objective process independently verifies attorney records, conferring with state bars across the country and conducting annual reviews to confirm that the attorney practices in the legal categories as indicated, possesses a valid bar license, and is eligible to practice in the specific jurisdiction.