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Corporate Bankruptcy: What You Need To Know When Choosing An Attorney

Law Blog

Dealing with a corporate bankruptcy is an extremely complex and lengthy process that should not be entered into without full legal representation. Filing for corporate bankruptcy, no matter the size of the business, is going to take some patience and legal expertise. You will be settling the debt owed by your company, so there are many things you will need to know about the process. Here are some things to consider:

A Corporate Bankruptcy Attorney is Crucial

While you likely already have a very trusted and accomplished attorney for the everyday legal needs of your business, keep in mind that he or she is likely not specialized in corporate bankruptcy. There will be a plethora of information that will need to be gathered and compiled during the bankruptcy, such as real estate, tax information, all insurance information, contracts, and all the debt that is owed. A corporate bankruptcy lawyer is not only specialized in this area of the law, but has the experience and aggression that is often necessary in these cases and can help you get the most out of your case. The attorney will help you approach the filing so that your business does not suffer as big a hit as it could otherwise.

Choosing Your Attorney

Choosing a great corporate bankruptcy attorney is the most important part of the process. There are so many factors that will need to be incorporated into your decision. The first thing to do is check the reviews of other clients who have utilized the attorney. You can often call past clients and get an honest review. Be sure to listen carefully to both happy and dissatisfied clients, if any, to help give you an idea of how the attorney did or did not help his or her case.

Also, check the reputation of any attorney you are considering. Corporate bankruptcy attorneys work extremely hard to maintain an optimal reputation in order to keep and maintain their clients. Narrow your list down to a few attorneys and dig into their backgrounds as much as possible. You may even want to have background checks into their history to ensure they are honest and forthcoming.

Going through a corporate bankruptcy will be a long and arduous process. However, you will have the best results with a great attorney. If you are not in an area where there are a variety of attorneys to choose from, call your state's bar association to get some referrals.


24 May 2017