Livonia Michigan Bankruptcy - Michigan Bankruptcy Blog

Livonia Michigan Bankruptcy

Michigan Bankruptcy Blog

Bankruptcy Law Firms filing for Bankruptcy in Michigan!

Posted by Peter Behrmann, Esq. On March 19th

Bankruptcy Law Firms filing for Bankruptcy!Bankruptcy Court

 

Jacoby & Meyers Bankruptcy, also known as Legal Helpers or Macey Bankruptcy was forced into Chapter 7 Bankruptcy last week by their creditors.  This firm had multiple offices throughout the Detroit area and their clients are now being turned over to new law firms to represent them.  This follows Frego & Associates, Michigan’s largest bankruptcy law firm filing their own Chapter 11 Bankruptcy in December to work out their own creditor issues.

 

What is really going on here with all of these Bankruptcy law firms ending up in Bankruptcy?  The reality is both of these firms were spending a lot of money each month on advertising to keep the new clients coming in.  Don’t get me wrong, I advertise too, but not nearly to the level of the two firms mentioned above.  On top of these firms spending huge amounts in advertising, bankruptcy filings are down.  For example, in 2009 51,596 bankruptcies were filed in the Eastern District of Michigan; whereas, in 2013 31,768 bankruptcies were filed.  That is a thirty-nine (39%) decline in cases which the large firms have not been able to adjust to.

 

Our situation at Phoenix Law is quite different.  We are a small firm with two attorneys that practice exclusively in the field of bankruptcy.  Our filings are down too, well sort of.  In 2009 we were filing an average of 17 cases per month; whereas, in 2013 we filed an average of 15 cases per month.  So we are down about twelve percent (12%), when the market is down thirty-nine (39%).  In my mind that makes me feel like I am actually up fourteen (14%), since I am not slowing down as quickly as the market is.  However that fact is, we have been able to adjust. Most importantly we continue to take care of our clients which is the number one reason we receive new clients!  We receive countless referrals from prior clients.  Our prior clients are not only happy with the fresh start that our firm provided them with but feel comfortable enough to suggest to a family member or friend to seek out our services.   To us this the number one reason were staying busy in a bankruptcy market that is down over thirty-nine percent (39%).

Peter Behrmann is a Livonia Bankruptcy Attorney.  From my Livonia, Michigan location, I represent clients throughout Metro Detroit and beyond, including Garden City, Wayne, Westland, Redford, Dearborn, Taylor, Ann Arbor, Belleville, Northville, Novi, Farmington, Farmington Hills, Plymouth, Canton, and the Counties of Wayne, Oakland, Livingston, and Washtenaw. My practice is limited to helping consumers like you file Chapter 7 and Chapter 13 Bankruptcy.

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