Bankruptcy Lawyers Near Me

Many people lose sleep at night because they are worried about money, including bills they cannot pay. If you think your situation will not change anytime soon, it might be time to talk to a Michigan bankruptcy lawyer about your options. Reach out to a bankruptcy lawyer near you for a free consultation right away. 

Is Bankruptcy Right for You?

Bankruptcy is not the right choice for everyone. In fact, you need to meet certain requirements in order to even be allowed to file. That said, if you are unable to keep up with your monthly bills and do not see a way out, there is a good chance that you can benefit from filing for bankruptcy. Some of the reasons that people get into situations that lead to bankruptcy include:

• Medical bills related to accidents or unexpected illnesses
• Poorly performing investments
• The loss of a job
• Overutilization of credit
• Divorce

An attorney familiar with bankruptcy law can evaluate your situation and determine whether bankruptcy is right for you.

What Type of Bankruptcy Should You File?

Once you decide you should file for bankruptcy, the next choice is what type of case your lawyer will file. There is more than one kind of bankruptcy for individuals and married couples, and the two main options are:

Chapter 7 = This is the most common bankruptcy case, but it is only available for people who earn less than the average household income for their state and household size. Your lawyer can determine if you can file a Chapter 7 case or not. If so, you might have to give up some property to get rid of your debts, but many people give up very little or even nothing at all. In fact, most Chapter 7 bankruptcies are zero-asset bankruptcies, which means that filers can enjoy the benefits of bankruptcy without giving up any of their assets.

Chapter 13 = If you make too much money for Chapter 7 or have too much property, you can file a Chapter 13 case. This case takes longer and you have to make payments to the court before you can get rid of your debts. However, there are no income restrictions or risks of losing your property to the bankruptcy court. 

How Does Bankruptcy Help Your Money Situation?

When you have a successful bankruptcy, your case ends with the court “discharging” most of your debts. This means you do not have to pay any of the discharged debts anymore. 

Examples of the debts that you can discharge in bankruptcy include:

• Credit card bills
• Medical debts
• Past-due rent
• Certain civil judgments
• Utility bills
• Personal loans

In addition, in some situations, Chapter 13 bankruptcy can help homeowners who are facing foreclosure. To learn more, you should contact a bankruptcy attorney near you.

Seek Help from a Michigan Bankruptcy Lawyer Near You

Money problems can cause significant stress and affect nearly every aspect of your life. Fortunately, bankruptcy can provide a fresh start. To learn more about how bankruptcy may help you, call Karen E. Evangelista or contact us through our online contact form.