No business owner expects to struggle financially, but when the economy is uncertain, it’s easy to get behind on things. Though filing for bankruptcy may be a good way to discharge your debts and give yourself a fresh start, it’s not something you should pursue lightly. You’ll want to speak with a Wisconsin business bankruptcy attorney as soon as you start feeling the crunch. Here’s how an attorney can help your business.
They’ll Help You Understand Your Options
There’s more than one type of business bankruptcy that you can file, and each type accomplishes different things. Understanding how each type of bankruptcy will impact your business, your finances, your employees, and more is essential if you’re going to make the right decision. Your Wisconsin business bankruptcy attorney will take the time to discuss each option with you so you can fully understand the pros and cons of each option.
Even better, they’ll be able to offer advice based on the way your business is running and what you’re struggling with. You may find that bankruptcy isn’t the right choice for your company and instead, you may just need to adjust your budget to get your finances back on track.
They’ll Help You File the Appropriate Paperwork
If you do decide that bankruptcy is the right choice for your situation, your attorney will help you with all the necessary paperwork—and there will be a lot of it. They’ll make sure you’re submitting the appropriate financial statements and documents and can help you fill out all necessary forms. Once you’re done, they’ll take care of filing the paperwork with the court to initiate the bankruptcy proceedings. This can save you time and stress from the very beginning. That gives you more time to focus on communicating with your employees, your clients, your customers, and your business partners.
They’ll Guide You Through the Bankruptcy Process
Filing for bankruptcy can be straightforward, but it’s not always. There may be delays, the court may need additional documentation, and you may need to provide new information before the court can render a decision. You may also need to cease operations for your company depending on the type of bankruptcy you’re filing for. Your attorney will be able to guide you through the entire process. You’ll have someone to ask advice as you go and won’t have to worry about trying to figure things out on your own.
They’ll Likely Save You Money
Filing for bankruptcy will cost you money and choosing the wrong type of bankruptcy, especially if you’re trying to keep your company running, can cost you. When you work with an attorney, you’ll likely end up saving money in the long run. Their advice will help you find the most cost-effective bankruptcy solution for your company, and they can reduce the risk of time-consuming mistakes during the filing process.
Looking for a Wisconsin Business Bankruptcy Attorney?
If you’re considering bankruptcy, working with an experienced Wisconsin business bankruptcy attorney is an absolute must. They’ll help you with everything from choosing the right type of bankruptcy to filing the appropriate paperwork and representing your interests with the court. Kerkman and Dunn is here to help. Contact us today to schedule a free consultation.
