Many people think Chapter 7 bankruptcy means losing everything. Thankfully, state and federal exemptions let you keep a lot of things. Bankruptcy exemptions allow you to protect your essential property, helping you maintain stability during this transition period....
Chapter 7 bankruptcy is a legal process that allows a person to eliminate most of their debts. In this process, a court-appointed trustee may sell some of the person’s property to pay creditors. This provides people with a fresh start to rebuild their credit and...
Filing for bankruptcy can be a terrifying prospect, especially considering what could happen to your hard-earned assets. Will you lose your home, your car or your savings? The uncertainty can be overwhelming. However, Chapter 7 bankruptcy, also known as liquidation...
Filing for bankruptcy often leaves an unsavory impression, which is why some people choose to battle mounting debt instead, even if they are already at their wits’ end and unable to make timely payments. When paying off your debt seems too overwhelming, you may...
About 100 million Americans are weighed down by medical debt, compelling families to make difficult compromises. With growing medical costs, you might feel as though you're drowning with no way out. The struggle can make it challenging to maintain daily life and...
If you are struggling with debt in Michigan, Chapter 7 bankruptcy can help because it allows you to get on with your life much faster and with a clean slate. During the process, the court will allow you to only sell some types of assets to clear your debt. Non-exempt...
If you've got credit card debt and unforeseen circumstances occur, such as losing your job in Michigan, keeping up with monthly payments can be challenging. When you're in this position, you have a few options. You can ask your creditors to settle for less. You can...
Chapter 7 bankruptcy offers a possible solution to those struggling with excessive debts. A Michigan debtor could find a path to a fresh start after successfully passing the required means test and filing for Chapter 7. A mistake the filer could make might involve...
Anyone with severe financial problems might consider filing for bankruptcy. A federal bankruptcy court in Michigan could help someone address debts they cannot pay by approving Chapter 7 liquidation bankruptcy. Would-be filers may need to understand Chapter 7...
Filing for a Chapter 7 bankruptcy in the state of Michigan can be an expensive process. This seems to run counter to logic since Chapter 7 means that your debts have become unmanageable. However, there are certain ways that you can qualify for Chapter 7 even without...
