Filing for Chapter 7 bankruptcy in Michigan can be a great way to absolve yourself of overwhelming debt and expenses. Once the bankruptcy is discharged, you can begin a fresh financial start. Otherwise known as liquidation bankruptcy, Chapter 7 allows you to emerge...
Firm News
The Chapter 7 means test explained
What type of personal bankruptcy case to pursue can be almost as important a decision as the decision to actually file for bankruptcy in Michigan. The two most common options you have to choose from are Chapter 7 and Chapter 13. Many of those looking to file for...
What is a balance transfer card?
There are multiple ways to manage credit card debt: consolidation and specific payment methods like the snowball or avalanche method are popular ways to do so. Another method of managing credit card debt is to use a balance transfer card. A balance transfer card is a...
How do I properly use a credit card to build credit?
Credit cards are often the culprit for large amounts of debt, but they can also serve a positive purpose when it comes to your credit. If you know how to do it right, you can use a credit card to build a nice credit score. According to Experian, you can open your own...
Chapter 7 bankruptcy: The meeting of creditors
When dealing with overwhelming debt, people may consider various options to regain control of their finances. One such step, filing for Chapter 7 bankruptcy, may help them wipe their slates and start fresh. However, bankruptcy filers have numerous obligations and...
How can you avoid debt after bankruptcy?
Filing for bankruptcy in Michigan can provide you with a solution to reduce and effectively manage debt. With negotiations underway, you can look begin thinking about your future. One action you can benefit from is assessing your financial habits and determining which...
The differences between Chapter 7 and Chapter 13 bankruptcy
If someone is having difficulty paying off debt and is receiving harassing calls from creditors, bankruptcy may be an option to start fresh. People may qualify to file for either Chapter 7 or Chapter 13 bankruptcy, depending on their circumstances. Chapter 7 According...
Why are more older people facing bankruptcy?
Even among people who have planned well and saved for years to fund their retirement, unexpected events may end up eating into their nest eggs, leaving them with virtually nothing at a time when they no longer work and earn an income. Despite the belief that serious...
Stopping foreclosure proceedings with Chapter 13 bankruptcy
Past posts on this blog detailed some of the differences between the various forms of personal bankruptcy. Many people in Michigan may wonder why anyone seeking bankruptcy protection would try and file under Chapter 13 given that it does not offer the comprehensive...
Why is it so easy to get into credit card debt?
Credit card debt is a huge issue for many people, and it does not just affect those who are bad with finances. It can happen to anyone. Out of control credit card debt is not always the result of not being responsible with your credit. U.S. News and World Report...