Livonia Bankruptcy Law Blog

Bankruptcy can sound like a rocky return to square one and a long road between you and good credit. But it does not have to be drastic. Your case may benefit best from a Chapter 13 restructuring instead of a reset.  Let us cover a couple definitions: secured and...

There are many reasons that Michigan residents are in dire financial straits. In some cases, it might be due to unexpected or steep medical bills. There is also the issue of lifestyle creep that you might experience as a result of not changing their standard of living...

You are likely reluctant to file for bankruptcy because you have heard that it will destroy your already dismal credit score. It is like comparing credit card debt to drowning, and Chapter 7 to pushing your head further underwater for seven years.  However, we have...

Are debt collection agencies hounding you with calls? If so, you are not alone. About 35% of American adults with a credit file have debt in the collection phase, according to the Urban Institute. As many people will tell you, debt collectors can be very aggressive at...

Considering bankruptcy is a big, and ultimately positive, step on the way to financial recovery. If you are just beginning the process of bankruptcy, it is natural to have many questions about the subject.  By far the most “popular” options for personal bankruptcy are...

Maintaining financial health after bankruptcy is an important goal for many people. In fact, that is what the process is all about. Contrary to popular belief, bankruptcy is not a sign that someone has gone broke or has failed in any way. It is a commitment to and an...

A path exists for people who file Chapter 7 bankruptcy to keep property subject to seizure by creditors. Sometimes, people may use assets, such as homes or vehicles, as collateral for debts. Lenders may place liens on such property, allowing them to repossess or...

Your current financial predicament has led you to tread unexplored waters in search of a viable solution. Should you consider taking out a personal loan to dig your way out of credit card debt? CNN Money examined this question for your consideration. See how to make...

There are as many ways to guide getting out of credit card debt as there are ways of getting into it, it seems, and this amount of choice can seem overwhelming. One of the more popular ways to get out of debt is the "snowball method," which was popularized by Dave...

If you are struggling with credit card debt, you are not alone.  The good news is that there are a number of different strategies that you can employ to help get yourself out of credit card debt. According to Nerd Wallet, some great tips are to pay more than the...