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Filing
for Chapter 7 and Chapter 13 Bankruptcy
in Michigan
No matter what
propelled you into this situation -
medical bills, loss of a job, death of a
spouse, divorce - bankruptcy may be the
option you need to get a fresh start for
you and your family. The experienced
attorneys at the Troy, Michigan law firm
of Powers Chapman assist joint (married)
debtors and individual debtors,
including individuals who may be married
but whose spouse will not be filing
bankruptcy, every day and with decisions
such as whether or not bankruptcy is the
right option and, if it is, under which
Chapter of the Bankruptcy Code the
debtor should file.
Seeking relief under Chapter 7 is
generally simple and the result is the
debtor keeping most of their possessions
without any of the debt. Only certain
debtors qualify to file under Chapter 7
and our attorneys will be able to
counsel you and your family on whether
or not this is an option for you.
Seeking relief under Chapter 13 requires
a plan to be filed with the court which
requires repayment of your debts over a
three to five year period. Because most
tax claims and student loan debt cannot
be discharged in bankruptcy, a Chapter
13 plan allows for the restructuring of
this type of debt to assist the debtor
is making smaller and more manageable
monthly payments. In most cases,
mortgage delinquencies can also be
spread out over the course of the plan
to avoid foreclosure. Call today to
discuss the many other benefits of
filing for Chapter 13 relief.
Alternatives to Filing for Bankruptcy
Bankruptcy is not
an option for everyone. Our attorneys
can offer advice on bankruptcy
alternatives, seeking credit counseling
from other entities, selling property,
and negotiating with your creditors. Our
job is not to get you to file for
bankruptcy - our job is to provide you
with all of the options available to you
under the law so that you can make the
decision whether or not bankruptcy is
the right solution for you. Call today
for a free consultation.
Call to Speak with an Experienced
Bankruptcy Attorney Today (248) 643-6500
When you hire an
experienced Powers Chapman bankruptcy
attorney, you will be receiving
one-on-one legal counsel from start to
finish. Your lawyer will assist you with
gathering all of the necessary
paperwork, filing all of the required
documents, assisting you in setting up
your mandatory credit counseling, and
preparing you for and attending your
-341 creditors - hearing. Your attorney
will also make sure that you are taking
full advantage of all the exemptions
allowable under the Bankruptcy Code so
that you can keep the things that you
want. Call Powers Chapman today for the
relief you need.
* PURSUANT TO 11 USC SECTION 527(b), THE
FOLLOWING IS IMPORTANT INFORMATION ABOUT
BANKRUPTCY ASSISTANCE SERVICES FROM AN
ATTORNEY:
If you decide to seek bankruptcy relief,
you can represent yourself, you can hire
an attorney to represent you, or you can
get help in some localities from a
bankruptcy petition preparer who is not
an attorney. THE LAW REQUIRES AN
ATTORNEY OR BANKRUPTCY PETITION PREPARER
TO GIVE YOU A WRITTEN CONTRACT
SPECIFYING WHAT THE ATTORNEY OR
BANKRUPTCY PETITION PREPARER WILL DO FOR
YOU AND HOW MUCH IT WILL COST. Ask to
see the contract before you hire anyone.
The following information helps you
understand what must be done in a
routine bankruptcy case to help you
evaluate how much service you need.
Although bankruptcy can be complex, many
cases are routine.
Before filing a bankruptcy case, either
you or your attorney should analyze your
eligibility for different forms of debt
relief available under the Bankruptcy
Code and which form of relief is most
likely to be beneficial for you. Be sure
you understand the relief you can obtain
and its limitations. To file a
bankruptcy case, documents called a
Petition, Schedules and Statement of
Financial Affairs, as well as in some
cases a Statement of Intention need to
be prepared correctly and filed with the
bankruptcy court. You will have to pay a
filing fee to the bankruptcy court. Once
your case starts, you will have to
attend the required first meeting of
creditors where you may be questioned by
a court official called a 'trustee' and
by creditors.
If you choose to file a chapter 7 case,
you may be asked by a creditor to
reaffirm a debt. You may want help
deciding whether to do so. A creditor is
not permitted to coerce you into
reaffirming your debts.
If you choose to file a chapter 13 case
in which you repay your creditors what
you can afford over 3 to 5 years, you
may also want help with preparing your
chapter 13 plan and with the
confirmation hearing on your plan which
will be before a bankruptcy judge.
If you select another type of relief
under the Bankruptcy Code other than
chapter 7 or chapter 13, you will want
to find out what should be done from
someone familiar with that type of
relief.
Your bankruptcy case may also involve
litigation. You are generally permitted
to represent yourself in litigation in
bankruptcy court, but only attorneys,
not bankruptcy petition preparers, can
give you legal advice.
** The Law Firm of Powers Chapman is a
debt relief agency. We help people file
for relief under Chapter 7 and Chapter
13 of the U.S. Bankruptcy Code. Powers
Chapman is not an approved non-profit
budget and debt counseling agency and
cannot provide any services in that
capacity. Further, it should be
understood that consultation with this
office will not satisfy the requirement
under the Bankruptcy Law that in order
to become a debtor under the Bankruptcy
Code you must contact an approved
non-profit budget and credit counseling
agency.
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