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Although most Chapter 7 bankruptcies do result in the discharge of the debtor's debts, that discharge is not a legal right. Creditors also have rights, and they may object to the discharge. The process of objecting is a legal action known as an adversary proceeding,...

Because people in all types of situations file bankruptcy, the rules may vary according to factors such as income, assets, types of debt and even personal preference. Most individuals or couples file either Chapter 7 or Chapter 13. Here is a look at some of the...

Facing foreclosure on your home in Michigan is a scary prospect. The thought of losing your home can be quite upsetting and make you fear what comes next. The good news is that the foreclosure process usually progresses the same regardless of where you live or what...

Millions of Arizona residents have found relief in bankruptcy throughout the years. Overwhelming debt can create stress, anxiety, depression and hopelessness. Many times, the life events leading up to the excessive debt are out of your control, such as a medical...

Credit cards can be wonderful if you use them carefully and make sure that you make payments to avoid going into debt. However, if you have a higher balance and cannot pay off the card at each billing statement, you always have the option of making the minimum...

Despite modern advances in medical care and constant debate in Congress regarding health insurance coverage, many Americans still end up filing for Chapter 7 or Chapter 13 bankruptcy due to medical debts. According to CNBC, recent studies of medical debtors from...

Deciding which type of bankruptcy is best for Michigan residents takes an understanding of each kind. While many different types of bankruptcy declarations exist, two of the most common are Chapter 7 and Chapter 13. The U.S. Bankruptcy Code defines Chapter 7 as a...

It seems easier than ever to get a credit card in America these days, with so many different companies offering seemingly great options for customers. However, credit card debt can swiftly rise without careful financial management. Business Insider reports that at...

The longer you own your home in Michigan and the more you pay down your mortgage, the better you are financially because you gain equity in your home. That equity helps to balance the debt of your mortgage. Ideally, you will have more equity than debt. However, over...

Michigan consumers most often file for Chapter 7 or Chapter 11 bankruptcy. Both provide a fresh financial start and a brighter, happier future without stress about debt, but how do you choose which one is right for you? There are several benefits for filing for...