Your credit will certainly be harmed after filing for bankruptcy in Michigan bankruptcy. However, it’s not the end of the world, and it can be the first step in beginning to rebuild your financial situation. While a mortgage may not be easy to come by at first,...
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Month: June 2021
Should you choose to file Chapter 7 or Chapter 13 bankruptcy?
Filing for bankruptcy in Michigan is a decision you should make when you’re unable to pay back your debt through any other means. If you have extensive credit card debt and have exhausted all other efforts to pay it back, bankruptcy is your best option. You may wonder...
What happens to mortgages in bankruptcy?
Debtors in Livonia, Michigan, commonly file for one of two types of bankruptcy when they see no way to repay their debt. Chapter 7 helps a debtor get certain debts discharged by selling nonexempt assets. Chapter 13 restructures debts for individuals with steady wages...
Would bankruptcy stop collection actions?
Filing for bankruptcy might be the right choice for a Michigan resident suffering from heavy debt. When debt becomes crushing, the problems could ripple into other areas of life. Creditor harassment might make things even worse if creditors ignore rules about...
How does Chapter 13 affect credit card debt?
Credit card debt could lead someone into a difficult financial position. Lack of liquidity may force a Michigan resident to pay for medical care, rent and other expenses with "plastic." However, when debt passes a certain point, concerns arise about paying the...
Tips for moving forward after bankruptcy
Bankruptcy offers debt relief for Michigan residents struggling with an overwhelming financial burden. The idea of filing Chapter 7 may be frightening at first, it won’t last forever. Instead, it may help you move past the debt and get on with the rest of your life...
How can I smartly use a credit card to avoid debt issues?
Credit card debt can quickly accumulate and lead to financial troubles. The problems usually stem from people not understanding how to smartly use them. According to Credit Karma, credit cards can be a great way to build your credit as long as you follow a few rules...
