Charles J. Schneider, P.C.certified consumer bankruptcy specialist
forms for your office visit
call today 734-237-1523
Practice Areas Menu In This Section

Posts tagged "creditors"

Michigan steel manufacturer files for Chapter 11 bankruptcy

Michigan business owners know that expanding operations can be a good and necessary step to maintain their position in the marketplace and even grow. Conducting an expansion can be a bit of a gamble: The rewards can be big, but an expansion can also be harmful if the timing or execution isn't right. One area business seems to have had this kind of experience.

CAN YOU AVOID YOUR CREDITORS AND NOT FILE BANKRUPTCY? PART I

All too frequently clients have said the following words, "Filing bankruptcy is the last thing I thought I would ever do", when the filing of a bankruptcy should have been thought of sooner. No one plans to file bankruptcy when they take out debts. The overwhelming majority of Americans voluntarily pay their debts. Credit card companies and other lenders count on this fact. Clients sometimes engage in strategies that may backfire in order to avoid filing bankruptcy.

Airline magazine file for bankruptcy protection

In order to be successful, businesses need to turn a profit. In some cases, businesses are profitable because they fill a void in a specific niche market. For these businesses, they thrive because they are doing something that no other businesses has been capable of doing. However, when other businesses move into the niche, it can be harder for the original business to compete.

The role of the Chapter 11 debtor in possession

In our last Wayne County bankruptcy law blog post, we made a reference to the term "debtor in possession." Let's take a little closer look at the meaning of debtor in possession according to the U.S. Courts website. The following is intended not as specific legal advice, but simply as general information.

Judge may convert Trump hotels' Chapter 11 into liquidation

Sometimes a bankruptcy case involves a small business struggling to keep the lights on. Other cases involve a major business bankruptcy with much more complex business bankruptcy issues to address. In either case, however, there are some underlying fundamental issues that Wayne County residents should understand, no matter what point they are at in their businesses.

What exactly goes into a Chapter 11 reorganization plan?

This blog has discussed commercial bankruptcy in a number of recent posts on. In particular, in a post from two weeks ago, we highlighted how the automatic stay associated with Chapter 11 bankruptcy helped one business owner renegotiate some debts that he might not have been able to otherwise. Chapter 11 is often referred to as a reorganization bankruptcy, but our Wayne County readers may have some questions about what exactly this means for them. Following is some general information regarding that question, which should not be interpreted as specific legal advice.

Developer benefits from "breathing spell" in Chapter 11

For Wayne County business owners, the idea of filing for bankruptcy may seem antithetical to the very entrepreneurial spirit that drives them. One wants to hold on, keep fighting even in the face of overwhelming debt. However, for many, business bankruptcy is just the opposite of giving up the fight: it's a last-minute tactic that can turn the game around, sometimes even faster than expected.

Michigan commercial bankruptcy case converted to Chapter 7

We've discussed a number of business bankruptcy cases in recent weeks on our Wayne County bankruptcy law blog. The latest involved a national restaurant chain emerging successfully from Chapter 11. However, one recent example of a commercial bankruptcy right here in Michigan highlights the importance of a sound reorganization plan when filing for Chapter 11, and the consequences of failing to develop one in the time allotted.

Commercial bankruptcy helps pizza chain slice up its debt

Just about a month ago, our Wayne County bankruptcy law blog talked about the case of a cosmetics company that made a major announcement. By choosing to pursue Chapter 11 bankruptcy, the company was going to try to reorganize and eventually resume operating without being held back by debt. Sound too good to be true? A major national chain restaurant has done just that.

  • rating

    Posted by MaryDecember 11, 2015

    "I am overwhelmed by your response to my call, even 10 years after my bankruptcy was discharged. You have more knowledge and expertise than I could have imagined. Because of you, my fears have been put to rest. For that, I'm so very grateful. Thank you many times over. "

  • rating

    Posted by ClientOctober 26, 2010

    "... I was extremely impressed with Charles' understanding of the bankruptcy laws to the extent that I felt certain that my best interests were always at the forefront. "

  • rating

    Posted by MarleneJanuary 8, 2014

    He helped me thru my 1st bankruptcy and now the second. I had no idea what to expect , but they kept me informed and answered all my questions. Mr. Schneider is the most experienced and knowledgeable lawyer I have ever met. If you have to file call this attorney first!

  • Avvo Rating 10.0 superb | Top Attorney Bankruptcy
  • Rated By Super Lawyers Charles J. Schneider | visit superlawyers.com | super lawyers 2011-2015
  • Avvo Ratting 10.0 superb Top attorney chapter 7
  • Avvo clients' choice 2014 | chapter 7
  • ICLE CONTRIBUTOR
  • American board of certification | certified consumer bankruptcy specialist
  • AV lexisNexis Martindale-Hubbell Peer Review Rated for ethical standards and legal ability
email us for a response

Let us evaluate your situation
and identify solutions

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy