Many Michigan residents carry some level of debt. Debt can be a dangerous thing, and having a comprehensive understanding of it can be crucial to your financial well-being. Many potential sources of debt exist, from mortgages and car loans to credit card debt and...
Michigan residents who are struggling with overwhelming student loan debt might have heard that student loans generally can't be discharged in bankruptcy. While it is true that student loans are much more difficult to discharge in bankruptcy than other types of...
The United States Bankruptcy Court in Michigan handled 13,533 bankruptcy cases in 2022. And most cases are Chapter 7 bankruptcy, with 9,266 filings. You might choose to file bankruptcy if you want a legal way to erase some of your debt when repayment is impossible or...
Bankruptcy is a daunting prospect for any Michigan resident and can have a significant impact on their financial future. However, by recognizing the warning signs early and taking appropriate action, you may be able to mitigate the consequences or even avoid...
IRAs have some level of protection during a bankruptcy, depending on what type they are. Every three years, the federal government adjusts the value of your account that you can protect to keep up with inflation. The first adjustment for inflation was on April 1,...
Credit card companies offer consumers in Michigan and around the country revolving rather than installment debt. It is called revolving debt because the credit limit becomes available again after the balance is paid, which means consumers can borrow the same money...
Many Americans struggle with debt, and Michigan residents are no exception. Chapter 7 and Chapter 13 bankruptcies are options that may alleviate some of your financial stress. Regardless of which type of bankruptcy you choose, neither Chapter 7 nor Chapter 13...
Dealing with massive debt can take its toll on Michigan residents. If all other options fail, you might consider filing for Chapter 13 bankruptcy to lessen your financial burden. You might wonder how long after bankruptcy you can get a credit card; this is how it...
A personal bankruptcy process is a federal option that Michigan residents can use for relief from overwhelming debt. Personal bankruptcy must be filed in court and approved by a judge. For people considering filing, looking at the process helps you decide what’s best....
Many Michigan families rely on credit cards to supplement their incomes or to fund emergencies. Credit card debt affects millions of Americans and is a common reason people go into debt or file bankruptcy. Filing bankruptcy is a tough decision many people face, and...
