Today our Detroit bankruptcy law firm helped a couple from the Detroit area file for Chapter 7 Bankruptcy. They earned approximately $3,000.00 per month which was just enough for them to maintain their living expenses. Half of the income was from soc…
Read More
Today I helped a young lady from Warren, MI file for Chapter 13 Bankruptcy. Her car had recently been repossessed for delinquent payments. I was able to recover her vehicle and work out a payment that was substantially lower than her prior car note s…
Read More
Bankruptcy often has a negative connotation, but this is in large part because of misconceptions that have escalated over time. Declaring bankruptcy in Michigan simply gives you a chance to eliminate debts and repay creditors under the protection of…
Read More
After Declaring Bankruptcy in Michigan Once you declare bankruptcy in Michigan, you’ll undergo several stages. In most cases, bankruptcy lasts for 3 to 5 years before a discharge is given. To make sure that you stay on track with the process, y…
Read More
For most people the decision to file bankruptcy in Michigan is extremely difficult. First, there is the fear of the unknown. Some people fear that their credit will be destroyed forever. Others fear that they will lose their property. Yet others fear…
Read More
If you owe a creditor money and fail to make your required payments, this lender may seek to get repaid by garnishing your wages. This means a percentage — usually not more than 25 percent — of your regular paycheck will be deducted and s…
Read More
Divorce often puts tremendous strain on both spouse’s finances. One spouse is suddenly paying alimony, spousal or child support, while the other may be scrambling to find a job after staying home with the kids for years. Both have increased liv…
Read More
With the current economic crisis many people are receiving 1099-C forms from their credit card companies, mortgage lenders and other lenders for forgiven debts. These forms are sent when a credit card debt is written off or a home is sold at a short…
Read More
Since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”) issues have come before this Court and most others across the country regarding the handling of Reaffirmation Agreements. Citing various r…
Read More
Michigan’s new foreclosure law became effective on July 5, 2009. The purpose of the law is to slow the rate of foreclosure. The law requires mortgage companies to notify their borrowers prior to starting foreclosure and offer to them the right…
Read More
