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Livonia Bankruptcy Law Blog

The positive side of filing for bankruptcy

Most people see a stigma attached to filing for bankruptcy. But this process has far more benefits than disadvantages to people who want to get out of debt and improve their financial decisions. The following are the best-known results of filing for bankruptcy in...

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The benefits of Chapter 13 bankruptcy

Sometimes, situations cause enormous debt, and a debtor can no longer pay them. Bankruptcy provides relief by erasing certain debts through Chapter 7 or Chapter 13. While debtors in Livonia, Michigan commonly choose Chapter 7, Chapter 13 offers several benefits....

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The automatic stay in bankruptcy

Sometimes, consumers in Michigan have no choice but to file bankruptcy to help ease their debt load. Many filers opt for Chapter 7, which removes debt by selling assets, or they choose Chapter 13, which establishes a debt repayment plan. While bankruptcy is often...

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Some ways to deal with credit card debt

Residents of Livonia and other parts of Michigan may want to learn more about a solid approach to dealing with credit card debt. Taking an honest look at your debt may be the first step to trying one or more of these time-tested strategies for paying off debt. Define...

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Bankruptcy myths that many people fall for

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...

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