Bankruptcy can be an important option for Michigan consumers who need debt relief from unrepayable bills, including medical debt, credit card bills and personal loans. However, once a person has filed for bankruptcy once, there are limitations about whether and how...
For Michigan consumers who are facing a financial crisis or are unable to repay their debts, Chapter 7 bankruptcy may provide debt relief and a fresh start. Not all applicants are eligible for a Chapter 7 bankruptcy, which eliminates most of the person's outstanding...
Being heavily in debt can be overwhelming. You may ultimately decide that filing for bankruptcy is the best course of action to alleviate your debts. However, if you received an overpayment of unemployment benefits in Michigan, you may wonder how they are handled in...
Many consumers in Michigan and around the country don’t file for bankruptcy because they don’t have enough accurate information about it. There are a lot of misconceptions about bankruptcy that simply aren’t true. Here are some of the bankruptcy myths that many people...
Residents of Livonia and Detroit and other areas of Michigan may want to learn more about what is happening with the cancellation of student loans by President Biden. Under consideration is the canceling of $50,000 in student debt for many Americans. It has now been...
For homeowners who are struggling with their mortgage payments, there is good news: The United States Federal Housing Administration has, once again, extended mortgage forbearance protection. This means that homeowners can request an extension on their forbearance,...
When filing a bankruptcy in Michigan, many individuals try to add as many of their unsecured debts as possible. This can include a car loan to where they owe more than the fair market value of the car. This is often done through a car loan cramdown. Here’s more...
Your credit will certainly be harmed after filing for bankruptcy in Michigan bankruptcy. However, it’s not the end of the world, and it can be the first step in beginning to rebuild your financial situation. While a mortgage may not be easy to come by at first,...
Filing for bankruptcy in Michigan is a decision you should make when you’re unable to pay back your debt through any other means. If you have extensive credit card debt and have exhausted all other efforts to pay it back, bankruptcy is your best option. You may wonder...
Debtors in Livonia, Michigan, commonly file for one of two types of bankruptcy when they see no way to repay their debt. Chapter 7 helps a debtor get certain debts discharged by selling nonexempt assets. Chapter 13 restructures debts for individuals with steady wages...
