If you are a current resident of the State of Michigan and Have Been for at least 180 days, you can file bankruptcy for debt relief. Individuals and businesses of any structure can file too. Married couples may file as a couple or a married person can file individually. The purpose of filing any form of bankruptcy is to give you a “fresh start“. After carefully considering your present financial circumstances and concluding that it is unlikely that you can pay off debts such as credit cards or medical bills (unsecured debt), catch up on past due mortgage payments (secured debt), or pay off pending collection actions before they result in garnishments or liens on your home or other assets, then you need to contact us.
There are two most common forms of Bankruptcy, 7 and 13. Filing any type of Bankruptcy can have an effect on an existing possible loan modification. If you have a business and it is struggling, there is always an option for a business reorganization, better known as Chapter 11.
We will discuss the specifics of your situation and help you find the debt relief solution that will work best for you. With over 35 years of experience in this arena, our skilled professionals strive to find alternative methods of resolution before suggesting that you file for bankruptcy. For a complete assessment of your financial situation, consult with our highly qualified Bankruptcy attorneys.
A Chapter 7 is the form of Bankruptcy which discharges your unsecured debts, releases garnishments, allows for the return of recently repossessed vehicles, and stops ALL collection efforts such as telephone calls to you, your family members, work, and sometimes even neighbors. The Chapter 7 Bankruptcy process is typically complete in three to four months after the initial Petition is files.