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Overview of Chapter 7 Bankruptcy (Part B) PDF Print

Basics of Chapter 7 Bankruptcy

Chapter 7 bankruptcy can be considered a liquidation plan designed to relieve a debtor of their debts. Chapter 7 bankruptcy is one of the harshest forms of debt relief as it requires all non-exempt property and assets to be sold to help repay your debts to creditors. In addition, not all forms of debts can be relieved through filing chapter 7 bankruptcy.

Some debts which still must be repaid include:

  • tax liens;
  • student loans; and
  • domestic/child support.

Read more... [Overview of Chapter 7 Bankruptcy (Part B)]
Overview of Chapter 7 Bankruptcy (Part A) PDF Print
Making the decision to file for chapter 7 bankruptcy should only come after extensive research and consideration. A Michigan bankruptcy attorney can help you evaluate your financial situation and discuss your options to relieve your debt, and can determine whether or not chapter 7 bankruptcy is necessary. There are many factors that determine your eligibility to file chapter 7 bankruptcy, and there are other alternatives that may be better suited for your situation.
Read more... [Overview of Chapter 7 Bankruptcy (Part A)]
An Overview of Michigan Foreclosure Law (Part B) PDF Print
According to the Michigan Foreclosure Law, besides sending a letter, your mortgage lender must publish their intent to foreclose on your home. They must do this in the legal news, along with your address. The reason your address is published is so that other parties who may be able to help you can contact you with their services.

Once this happens, you will receive a ton of letters from companies who will claim that they can help you. Many of these companies are scams and will only try to take your money. The best thing to do to protect your home is to call an Ann Arbor foreclosure attorney. An experienced Ann Arbor foreclosure attorney can help you understand your legal options and may be able to help you save your home from foreclosure.
Read more... [An Overview of Michigan Foreclosure Law (Part B)]
An Overview of Michigan Foreclosure Law (Part A) PDF Print
Due to the current economic crises, home foreclosure rates have been soaring in the United States. In order to slow the rate of foreclosure in Michigan, a new Michigan Foreclosure Law was passed in July of 2009. This law requires mortgage lenders to notify their borrowers before they initiate foreclosure proceedings. It also states that those in danger of foreclosure may request a meeting with their lender.

If you request a meeting about your foreclosure in Michigan, then your lender may not initiate the foreclosure until 90 days after the letter is sent. If you have questions about the Michigan Foreclosure Law, or if you want to request a meeting with your lender, then you may want to get the professional help of an Ann Arbor foreclosure attorney.
Read more... [An Overview of Michigan Foreclosure Law (Part A)]
Is Bankruptcy in Michigan the Right Choice for Me? PDF Print
Filing for Michigan bankruptcy may be the right choice for you if you are faced with mounting debts that you cannot conceivably repay without suffering undue financial hardship or further damage to your credit score. Like any important life decision, filing bankruptcy in Michigan is not a choice to be made in haste.

An experienced Ann Arbor bankruptcy attorney can work with you to examine your current financial situation, your eligibility for bankruptcy, how this decision will impact you for years to come, as well as explain any viable alternatives to filing bankruptcy.

Read more... [Is Bankruptcy in Michigan the Right Choice for Me?]
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