Bankruptcy for a Business – Moving Toward Filing Bankruptcy
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Please Note:
The information contained in this web site, article or link may be outdated, incorrect or not applicable; it is your obligation to confirm the accuracy.
It is very important that you obtain legal advice from an experienced bankruptcy attorney regarding your particular situation. Consultation before you take action will certainly cost you less than it will cost to fix your unintentional errors.
The information in this web site is not intended to constitute legal advice or to create an attorney-client relationship.
Each client receives individualized attention and our firm is not a bankruptcy “mill”, because we feel you deserve better than to be treated like cattle headed down a chute. I also mentioned that it is very rare for one company’s financial and life circumstances to be the same as another. So, I customize my legal advice in order to respect your company’s unique history, needs and wants.
Taking time to plan a bankruptcy is an absolute necessity. No one should ever file a bankruptcy without looking at the big picture because there is far too much is at stake, such as shareholders and officers having to turnover payments or property received prior to filing the bankruptcy. Sometimes our clients need to move forward quickly due to a landlord seizing the building. We try to accommodate those needs, but all of these issues must be balanced so you understand possible consequences of your actions.
The information that you are now going to provide me will help to paint an accurate and detailed picture of the company’s assets and liabilities. Make notes of any questions. You will have several opportunities to ask questions or make corrections.
STEP 1 - GATHER ALL THE BUSINESS FINANCIAL INFORMATION
We need to know more about your business’s financial and legal history. In order to help we will need copies of tax returns for the last three years, bank statements for the last twelve months, accounting records for the last year, all obligations that business may or does owe, list all assets including accounts receivable.
No reason to make a copy for us because when you come to your first meeting we will scan all the documents into our system and give you the originals. You can also bring them on a thumb drive or email to Jay before the meeting.
STEP 2 - ENTER INFORMATION ABOUT BUSINESS ASSETS AND LIABILITIES
After your free telephone conference Diane sent you an invitation to enter data to a secure on-line portal: www.MyCaseInfo.com. Please call us if you cannot find that invitation. MyCaseInfo is a secure site and only our firm will receive the financial information. MyCaseInfo is really designed for a person, but the questions are relatively the same for a business.
STOP AND READ: Before going any further print and read Instructions-for-MyCaseInfo-7-23-18.pdf (52 downloads) . There is a lot of work to do this properly and these instructions will make your work much easier. Please call Jay (602-246-7106) if you still have questions after reading the instructions. This information becomes the foundation for the entire bankruptcy.
You and I will go over all the information during our in-person appointments. When your company’s bankruptcy is filed the trustee will ask you to swear under oath that the information in the documents is complete and accurate. I want you to be very comfortable with this affirmation. Now you can see why it is very important to commit the time and effort now so as to avoid complications later.
STEP 3 - I WILL CALL TO SCHEDULE YOUR FIRST MEETING
Please give us a call at 602.246.7106 to confirm we received notice that you completed the MyCaseInfo information. Diane will call to schedule your first meeting and e-mail a list of items to bring to your meeting. The following is an advanced look at that list:
LIST OF ALL STEPS FOR THE BANKRUPTCY PROCESS
CHAPTER 7 FLOWCHART FOR A BUSINESS BANKRUPTCY
Thank you for your courtesy.