October 24, 2017 | attorney | Business Attorney, Business Plan, Kimberly Ross Clayson, Lease Agreement, Purchase Agreement, Real Estate Attorney
Here at Clayson, Schneider & Miller, PC we have seen how important dependable and consistent legal support is to ensuring a successful lasting business. Building legal costs into the business plan is going to be necessary at about every step of the way. Why hire an attorney for your business? Here are 8 reasons an […]
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October 17, 2017 | attorney | Bankruptcy, Bankruptcy Attorney, Business Bankruptcy, Chapter 11, Company Bankruptcy, Corporate Bankruptcy, Detroit Bankruptcy
In addition to a company bankruptcy lawyer, there are significant accounting and reporting requirements that must be fulfilled while your company’s Chapter 11 bankruptcy is pending. The company may need to hire an accountant to help fulfill the reporting requirements and if the company has performed regular accounting and bookkeeping in the past, hiring an […]
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October 16, 2017 | attorney | Bankruptcy, Bankruptcy Attorney, Business Bankruptcy, Chapter 11, Company Bankruptcy, Corporate Bankruptcy, Detroit Bankruptcy
Part 4: Are all the key members or shareholders on board with filing bankruptcy? If there is more than one owner in a company that may be a candidate for Chapter 11 bankruptcy, a majority in voting interests must approve bankruptcy as a the right course of action. Business owners should discuss the needs for […]
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October 13, 2017 | attorney | Bankruptcy, Bankruptcy Attorney, Business Bankruptcy, Chapter 11, Company Bankruptcy, Corporate Bankruptcy, Detroit Bankruptcy
Part 2: Have you hired your own attorney to represent you during your company’s Chapter 11? It is important for business owners to understand that the attorney that files bankruptcy for the company is not the owners’ personal attorney. While the bankruptcy attorney may keep the owners’ goals for the business in mind while preparing […]
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October 11, 2017 | attorney | Bankruptcy, Bankruptcy Attorney, Business Bankruptcy, Chapter 11, Company Bankruptcy, Corporate Bankruptcy, Detroit Bankruptcy
Chapter 11 bankruptcy is a great tool to restructure the finances of a business in financial distress. Chapter 11 allows the owners to continue to operate the business while renegotiating loans that have become too burdensome for the business to service profitably or working with taxing authorities to repay back-taxes of all types. Have you […]
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August 3, 2017 | Kimberly Ross Clayson | Bankruptcy, Bankruptcy Attorney, Bankruptcy Exemptions, Detroit Bankruptcy, Keep my home bankruptcy, Kimberly Ross Clayson, Uncategorized
There are some common pitfalls that can cause financial distress and lead to bankruptcy. Here are some of the easiest ways to avoid bankruptcy: 1. Don’t sign on the line Co-signing with a friend is a mistake! As the saying goes with friends and money… When it comes to giving a friend the help of […]
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May 15, 2017 | David Miller | Bankruptcy, Bankruptcy Attorney, Bankruptcy Exemptions, Detroit Bankruptcy, Keep my home bankruptcy, Kimberly Ross Clayson, Uncategorized
There are three prominent Chapters of the Bankruptcy Code that individuals can utilize to file bankruptcy. Personal bankruptcies are most commonly filed under Chapters 7, 11, 13 and less commonly Chapter 12. Find the right fit for your bankruptcy needs: One of the most important steps in determining if bankruptcy is right for you is […]
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December 18, 2016 | David Miller | Bankruptcy, Bankruptcy Attorney, Bankruptcy Exemptions, Detroit Bankruptcy, Keep my home bankruptcy, Kimberly Ross Clayson
Bankruptcy exemptions are a set of laws that determine what property you may keep after filing bankruptcy. Bankruptcy exemptions exist in both Federal and state law. The different exemption laws vary and in Michigan you may generally choose to elect either Federal or State law exemptions. An exemption analysis is critical before choosing to file for bankruptcy.
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December 18, 2016 | David Miller | Bankruptcy, Bankruptcy Attorney, Bankruptcy Exemptions, Detroit Bankruptcy, Keep my home bankruptcy, Kimberly Ross Clayson, Uncategorized
Ultimately it depends on your circumstances. It mostly depends on three factors: (1) which chapter of bankruptcy you are filing, (2) whether or not you can continue to pay your mortgage payments, and (3) whether or not you can exempt any equity you may have. Chapter 7 Chapter 7 bankruptcy is likely the best option […]
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