After Declaring Bankruptcy in Michigan

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, you'll want the help of a bankruptcy attorney in Michigan to keep your case in line with state and federal standards.

The following are some "dos" to consider after you declare bankruptcy:

  • Do - continue with payments you've started for vehicles you would like to keep.
  • Do - speak with your bankruptcy attorney in Michigan regularly, to keep up-to-date with upcoming requirements in your case; and
  • Do - act responsibly when it comes to financial matters and treat your bankruptcy case with care.

The following are some "don'ts" to consider after you declare bankruptcy:

  • Don't - sell or transfer ownership of any of your property without consulting a financial advisor or legal expert; and
  • Don't - worry if creditors persist with sending bills or collection letters.

The Importance of Hiring a Bankruptcy Attorney in Michigan

Declaring bankruptcy may be the best option for some people in extreme financial distress, but there are also many alternative ways to solve your financial problem. A bankruptcy attorney in Michigan can examine your financial situation and determine which course of action is best for you. If your case does not necessitate declaring bankruptcy in Michigan, an attorney may suggest credit counseling and consolidations as alternative tools.

Keep in mind that declaring bankruptcy will not protect you from repayment of some non-dischargeable debts such as student loans and certain taxes. Your bankruptcy attorney in Michigan will go over your financial records to advise you of the non-dischargeable debts in your situation.

When meetings with creditors are necessary before you file for bankruptcy, your bankruptcy attorney can facilitate the process and represent you. Once you you have filed bankruptcy, your attorney will field all communications from your creditors.

Additionally, whether you file Chapter 7 or Chapter 13 bankruptcy, each has it own rules and stipulations to which you must adhere. Without a bankruptcy attorney in Michigan to properly advise you about state and federal regulations, you could unintentionally compromise your claim and lead to its dismissal.

Contacting a Michigan Bankruptcy Attorney

If you are considering filing for bankruptcy in Michigan, it is important that you are armed with as much knowledge about the process as possible. The Michigan bankruptcy attorney team at John A. Steinberger and Associates will work with you to establish a bankruptcy plan that is most beneficial to you both in the short- and long-term. Contact us today for a consultation - 866-690-2142.