Bankruptcy Attorneys Sterling Heights

Financial strain can be stressful, and sometimes the only solution appears to be bankruptcy. This term may give you a sense of fear and confusion due to its confusing legal implications. However, understanding the process can relieve some of these fears. Karen E. Evangelista is here to help you learn more about Chapter 7 bankruptcy in Michigan. Call us to see how a bankruptcy lawyer can assist you and see what factors you should consider when seeking bankruptcy.

Understanding Chapter 7 Bankruptcy

Chapter 7 bankruptcy, often referred to as ‘liquidation bankruptcy,’ is a legal process designed to assist individuals who find themselves unable to repay their mounting debts. It offers a fresh start by eliminating most of your unsecured debts, such as credit card bills, medical expenses, and personal loans.

Eligibility for Filing Chapter 7 Bankruptcy

Not everyone can file for Chapter 7 bankruptcy. The eligibility is determined by a “means test,” which evaluates your money resources. The test considers your income, comparing it with the median income of a similar-sized household in Michigan. If your income is less, you are eligible to file. However, if it exceeds, you may still qualify if your disposable income, after deducting certain allowed expenses, is insufficient to pay off your debts.

The Process of Chapter 7 Bankruptcy

Once you file for Chapter 7 bankruptcy, an automatic stay is activated, prohibiting your creditors from making any further collection attempts. Following this, a bankruptcy trustee is appointed by the court to oversee your case. They will liquidate your non-exempt assets, if any, and distribute the proceeds among your creditors. It’s important to note that bankruptcy laws protect some property from being sold off, so you may not lose everything.

Timeframe of Chapter 7 Bankruptcy

The process of filing for Chapter 7 bankruptcy is relatively swift, typically taking about three to six months. This allows you to promptly eliminate your debts and begin rebuilding your financial stability.

The Role of a Bankruptcy Lawyer

Navigating through the difficulties of bankruptcy law can be hard. Here, a bankruptcy lawyer plays an important role. They can explain the process, guide you through the means test, handle necessary paperwork, represent you at hearings, and make sure your rights are protected throughout the process.

Selecting a Bankruptcy Lawyer in Michigan

Here’s why you should choose Karen E. Evangelista, PC, to handle your bankruptcy case:

• Experience: Karen E. Evangelista is a lawyer who is experienced in Michigan bankruptcy law and has a successful track record in handling Chapter 7 bankruptcy cases.
• Communication: Our lawyer is able to explain complex legal concepts in simple, understandable terms. We will also keep you informed about the progress of your case.
• Cost: We make sure you understand the fee structure upfront to avoid any surprises later on.

Contact Our Office to Speak to Sterling Heights Bankruptcy Attorneys

Bankruptcy, despite its daunting reputation, can be a viable path to financial recovery. With the right understanding and legal assistance, you can navigate through Chapter 7 bankruptcy effectively. Everyone encounters financial hiccups, but these setbacks don’t define your future. Embrace the opportunity to regain control over your finances. Call our Sterling Heights bankruptcy attorneys today, and set up a meeting with Ms. Evangelista.