Livonia Bankruptcy Law Blog

Bankruptcy is a learning opportunity for nearly everyone who files. Some of the information will be new, while other perspectives will simply elaborate or contextualize what you already know. One example is secured versus unsecured debt. Here is how the two are...

Individuals who are in over their heads with debt often envision a future without any monetary obligations. Most of these individuals want to obtain that debt free life immediately, which they can do through Chapter 7 bankruptcy. However, though Chapter 7 works to...

Bankruptcy offers you a chance to get out from under overwhelming debt and rebuild your finances. There are two basic options: chapter 7 and chapter 13. Each one has its own benefits and eligibility requirements, so you may need to research both to figure out which...

There are many ways to manage your credit card debt. Many people spend a lot of time coming up with a strategy that works for them: popular strategies include the snowball method and the avalanche method. However, there is another option. Many people choose to apply...

Chapter 7 bankruptcy is commonly known as a liquidation bankruptcy. This is because the courts will liquidate the debtor's assets to help pay off creditors. The two most common bankruptcies to file for as an individual or either Chapter 13 or Chapter 7. Persons who...

Michigan residents who fall into debt should have ways to get themselves back out. One of these ways is by filing for bankruptcy. Chapter 13 bankruptcy is a specific type that suits the needs of some debtors better than others. Today we will look at some of the...

People have varying priorities when they pay off their credit cards. Some individuals feel fine just paying the minimum amount each time the bills come due. However, just paying the minimum amount may become a debt time bomb if you are not careful. Not only can you...

Individuals or businesses may file for Chapter 7 bankruptcy under certain circumstances. As a married individual wanting to file for bankruptcy, you may wonder if you can file without involving your spouse, if both of you have to file, but individually, or if you have...

Dealing with Debt Individuals who find themselves in a pinch may receive unwelcome debt collection calls. Unfortunately, many people cannot run from them and feel like they have nowhere to turn to. Conversing with debt collectors does not work. Neither does ignoring...

Michigan residents with debt may look into methods of easing the debt. For many, bankruptcy is a viable option. But did you know that each type of bankruptcy has its own set of requirements? Not just anyone can file for any type of bankruptcy.  Today we will look at...