Personal Bankruptcy

Personal Bankruptcy

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....

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 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...

Debt service ratios explained

The bankruptcy courts provide ways for persons struggling with excessive debt to reverse their situation. A payment plan or a means-tested liquidation process could set a course for becoming debt free. Without massive debts, an individual may reestablish a more...

Cannabis income and federal bankruptcy courts

Filing for bankruptcy could save Michigan companies and consumers from the stress and challenges of heavy debts. Federal law guides bankruptcy proceedings, and anyone seeking protection from the courts must understand statutes guide actions. So, someone who fails the...