Bankruptcy is a daunting prospect for any Michigan resident and can have a significant impact on their financial future. However, by recognizing the warning signs early and taking appropriate action, you may be able to mitigate the consequences or even avoid...
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Month: May 2023
What will happen to your IRA in a bankruptcy in Michigan?
IRAs have some level of protection during a bankruptcy, depending on what type they are. Every three years, the federal government adjusts the value of your account that you can protect to keep up with inflation. The first adjustment for inflation was on April 1,...
The credit card debt trap
Credit card companies offer consumers in Michigan and around the country revolving rather than installment debt. It is called revolving debt because the credit limit becomes available again after the balance is paid, which means consumers can borrow the same money...
