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...
Filing for bankruptcy might be the right choice for a Michigan resident suffering from heavy debt. When debt becomes crushing, the problems could ripple into other areas of life. Creditor harassment might make things even worse if creditors ignore rules about...
Credit card debt could lead someone into a difficult financial position. Lack of liquidity may force a Michigan resident to pay for medical care, rent and other expenses with "plastic." However, when debt passes a certain point, concerns arise about paying the...
Bankruptcy offers debt relief for Michigan residents struggling with an overwhelming financial burden. The idea of filing Chapter 7 may be frightening at first, it won’t last forever. Instead, it may help you move past the debt and get on with the rest of your life...
Credit card debt can quickly accumulate and lead to financial troubles. The problems usually stem from people not understanding how to smartly use them. According to Credit Karma, credit cards can be a great way to build your credit as long as you follow a few rules...
When you struggle with debt, you will likely deal with a debt collector at some point. This unfortunately means you may have to contend with some unpleasant interactions. However, the Fair Debt Collection Practices Act (FDCPA) can protect you from the worst of it. In...
If debt is overwhelming you, you may be considering filing for bankruptcy. However, there are different types of bankruptcy, and common ones are chapter 7 and chapter 13 bankruptcy. When you understand the differences between the two, you will be able to make a more...
