Forbes explains that the average U.S household has about $15,000 in credit card debt. If you feel like you are drowning in your credit card debt, you are not alone. Most cannot pay off the credit cards quickly, due to high interest rates that could have them paying...
Month: October 2019
Month: October 2019
Things to consider when facing bankruptcy and divorce
Divorce and financial struggles often go hand in hand. When you face divorce and the prospect of bankruptcy at the same time, you may not know what is the right course to take. Should you file together or separately, before or after the marriage ends? The answers...
Deciding on Chapter 7 or Chapter 13
If you are a Michigan resident feeling overwhelmed by debt and hassled by creditors, you are not alone. Medical emergencies, loss of a job and other unexpected events can cause you to spiral into debt quickly. At Phoenix Law, we often assist clients in determining...
What kinds of debt are discharged in Chapter 13?
Filing for Chapter 13 bankruptcy in Michigan is the first step on the road to restoring your finances and emerging from under a cloud of debt. If you are considering a Chapter 13 filing, you should know how your debts will be dealt with. As you go through Chapter 13,...
The emotional toll of having too much debt
Overwhelming debt is an issue that many face in Michigan, and bankruptcy provides a path to a fresh financial start. Those who are still struggling under the weight of smothering debt may not realize what kind of an emotional effect that excess debt can have. Those...
