Bankruptcy Attorneys Macomb County

Are you feeling overwhelmed by debt? You’re not alone. Many people face this problem. But there’s good news. Help is available from bankruptcy attorneys in Macomb County. Karen E. Evangelista, PC, can guide you through the process of filing for Chapter 7 bankruptcy.

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a legal way to wipe out most of your debts. When you file for Chapter 7 bankruptcy, the court puts a hold on your debts. This means that creditors can’t contact you to collect money on debts that were discharged. It’s important to note that some debts can’t be discharged. 

How Does Chapter 7 Bankruptcy Work?

Here’s how it works in simple terms. After you file, a person called a trustee is appointed by the court. The trustee’s job is to sell your assets, if any, to pay your debts. But don’t worry. Most people who file for Chapter 7 bankruptcy don’t have assets that can be sold. These are called “no-asset” cases.

Who Can File for Chapter 7 Bankruptcy?

Not everyone can file for Chapter 7 bankruptcy. You must pass a “means test.” This test looks at your income and expenses to see if you really can’t pay your debts. If your income is too high, you may not be able to file for Chapter 7 bankruptcy. Our bankruptcy attorney can help you figure out if you pass the means test.

Benefits of Chapter 7 Bankruptcy

There are many benefits to filing for Chapter 7 bankruptcy. The biggest benefit is that you can start fresh. After your debts are wiped out, you can start building your finances again. Another benefit is that the process is quick. Most Chapter 7 bankruptcies are completed in just a few months.

Risks of Chapter 7 Bankruptcy

There are also risks. The biggest risk is that your credit score will go down. This can make it hard to get a loan or credit card in the future. Also, not all debts can be wiped out in Chapter 7 bankruptcy. For example, you can’t wipe out student loans or child support debts.

Tips for Navigating the Process

Here are some tips to help you navigate the process of filing for Chapter 7 bankruptcy.

• Get Help: Filing for bankruptcy is a big decision. It’s important to get help from bankruptcy attorneys in Macomb County. They can guide you through the process and answer your questions.
• Gather Your Documents: You’ll need to provide information about your income, expenses, and debts. Start gathering these documents as soon as you can.
• Attend Credit Counseling: Before you file, you must attend credit counseling. This is a class that teaches you about managing your finances.

Contact Our Bankruptcy Attorneys In Macomb County

Chapter 7 bankruptcy can be a way to get relief from overwhelming debt. But it’s not a decision to take lightly. It’s important to understand the process, the benefits, and the risks. And most importantly, it’s important to get help from our bankruptcy attorneys in Macomb County. Karen E. Evangelista, PC, can assist you with the process to make the right decision for your situation. Call today to begin.