Michigan residents who are struggling with overwhelming student loan debt might have heard that student loans generally can't be discharged in bankruptcy. While it is true that student loans are much more difficult to discharge in bankruptcy than other types of...
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Personal Bankruptcy
3 Signs of impending bankruptcy and what to do
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...
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,...
How the personal bankruptcy process works
A personal bankruptcy process is a federal option that Michigan residents can use for relief from overwhelming debt. Personal bankruptcy must be filed in court and approved by a judge. For people considering filing, looking at the process helps you decide what’s best....
How long before bankruptcy falls off my credit report?
Many Michigan families rely on credit cards to supplement their incomes or to fund emergencies. Credit card debt affects millions of Americans and is a common reason people go into debt or file bankruptcy. Filing bankruptcy is a tough decision many people face, and...
How can you rebuild your credit after bankruptcy?
If you’re a Michigan resident struggling with insurmountable debt, you might consider filing for bankruptcy. While this is one of the best ways to alleviate your financial burdens, it can also cause your credit to take a hit. This is how you can rebuild your credit...
Is a debt relief program right for you?
We have all had it happen at one point in our lives. Credit card debts get too high or a job loss causes you to fall behind in your obligations. Whatever the reason for your current credit hardships, Michigan residents have different choices on how to recover from...
Working with a bankruptcy attorney
When Michigan consumers find it impossible to repay their debts, they may file for bankruptcy. Doing so involves more than completing forms and submitting them. The debtors must file a petition in a federal courtroom. Many of them will seek the assistance of a...
What does it mean to be discharged from bankruptcy?
For many Michigan residents, bankruptcy is a last resort when it comes to dealing with insurmountable debt. If you're considering filing for bankruptcy, you're likely wondering what will happen to your assets and whether you'll be able to rebuild your credit once the...
What happens to a car in bankruptcy?
Bankruptcy may be a great option if you are struggling to keep up with mortgage, credit card or other types of payments. Depending on the circumstances of your case, it may be possible to eliminate debts without losing a Michigan home, funds in a bank account or other...
