Bankruptcy Attorneys in Michigan<\/h2><\/span><\/div><\/div><\/div>It\u2019s time to end your financial problems! Struggling with debt can be mentally and physically exhausting. However, you can take CONTROL of your situation if you eliminate debts and make a solid plan to secure your financial future. <\/span>Our experienced bankruptcy attorneys<\/span><\/a> in Michigan can be your legal representation and fight for you tirelessly through the bankruptcy process.\u00a0 We will answer the following questions and more:<\/span><\/p>\n\n- What is Consumer Bankruptcy?<\/span><\/li>\n
- Which debts are not discharged in bankruptcy?<\/span><\/li>\n
- What type of bankruptcy is right for me?<\/span><\/li>\n
- When should I file for bankruptcy<\/a>?<\/span><\/li>\n
- What are the steps to filing bankruptcy in Michigan?<\/span><\/li>\n<\/ul>\n
Filing bankruptcy is the most logical solution for individuals and families who are:<\/span><\/p>\n\n- Facing out of control credit card debt<\/a><\/span><\/li>\n
- Unemployed<\/span><\/li>\n
- Recently divorced<\/span><\/li>\n
- Overwhelmed with medical bills<\/span><\/li>\n
- Facing foreclosure<\/span><\/li>\n
- Facing lawsuits\/garnishments<\/span><\/li>\n
- Experiencing creditor harassment such as harassing phone calls<\/span><\/li>\n<\/ul>\n<\/div><\/div><\/div><\/div><\/div>
Seeking Financial Freedom?<\/h2><\/div>How would you like to wake up not worrying about your creditors or loan balances? Our Michigan Bankruptcy Attorneys can help you attain new financial freedom! Worried about the cost? We offer payment plans for all budgets and a free credit rebuilding program!<\/h6><\/div><\/div><\/div><\/div>Get Yours Today!<\/span><\/a><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>What is Consumer Bankruptcy?<\/span><\/h2>\n![\"Bankruptcy](\"https:\/\/hsapclaw.com\/wp-content\/uploads\/2022\/04\/Bankruptcy-lawyer-Michigan-1.webp\" "\\"Bankruptcy")
<\/span><\/p>\nUnder Federal law, bankruptcy is both a legal process and a creditor right. It provides individuals financial freedom when they become unable to repay debts or bills. Depending on the type of bankruptcy being filed, it can result in dismissed borrowers\u2019 debts, or an opportunity to catch up on missed payments to avoid losing their property. There are advantages to filing for bankruptcy.<\/span><\/p>\nBankruptcy eliminates debts<\/b><\/h3>\n
Bankruptcy helps you manage your debts, get out of debt or dismiss your payment obligation. As soon as you file for bankruptcy protection, the United States bankruptcy court releases an order (called the Automatic Stay<\/a>) that prevents creditors from making any attempts at harassing or collecting from you.\u00a0<\/span><\/p>\nBankruptcy prevents creditor harassment<\/b><\/h3>\n
Declaring bankruptcy stops your lending company from garnishing your monthly wages and demanding repayments from you. In addition, if your utilities have been cut because of any overdue payments, bankruptcy filings will help you have these services restored. Moreover, if a creditor fraudulently tries to harass you and collect more than what you owe, you can challenge the claim through the filing of a bankruptcy petition.<\/span><\/p>\nBankruptcy protects your properties<\/b><\/h3>\n
Aside from preventing creditor harassment, bankruptcy can stop foreclosure<\/a> as you extend the period for repaying unsecured debts. You should remember that filing bankruptcy cannot eliminate debts such as liens and mortgages on your property. Filing for bankruptcy can prevent the seizure of your car or another valuable asset. If one of your properties has been repossessed before your date of filing, bankruptcy can have the lender return it to you.<\/span><\/p>\nWhich debts are not discharged in bankruptcy?<\/span><\/h2>\nMake no mistake: bankruptcy will not completely get you out of debt. There are certain limitations as to which types of debts are eliminated in a Michigan bankruptcy. Under bankruptcy law, you cannot entirely eliminate debts in your bankruptcy petition if they fall under the following categories:<\/span><\/p>\n\n- Unpaid alimony and child support<\/span><\/li>\n
- Student loans\u00a0<\/span><\/li>\n
- Tax debt<\/span><\/li>\n
- Fines and penalties to due criminal activity or la-breaking<\/span><\/li>\n
- Personal injury-related debts<\/span><\/li>\n
- A debt of cosigners or guarantors<\/span><\/li>\n
- Debts incurred post-bankruptcy<\/span><\/li>\n<\/ul>\n
What type of bankruptcy is right for me?<\/span><\/h2>\nAt Hammerschmidt Stickradt and Associates, P.C. Law, our passionate and caring lawyers understand that bankruptcy is not an easy decision to make. This is why we help our clients pick the right type of bankruptcy for them. Through years of experience, we have helped guide over 10,000 toward financial freedom through the following types of bankruptcy:<\/span><\/p>\n\n- Chapter 7 Bankruptcy<\/a>.\u00a0<\/b><\/li>\n<\/ul>\n
Often referred to as straight bankruptcy or <\/span>liquidation bankruptcy<\/span><\/a>, this type helps debtors wipe out dischargeable debts in exchange for giving up certain properties to pay back creditors. Which properties will be sold off and which will remain would depend on state bankruptcy exemption rules.<\/span><\/p>\n\n- Chapter 13 Bankruptcy\u00a0<\/b><\/li>\n<\/ul>\n
Also referred to as <\/span>reorganization bankruptcy<\/span><\/a>, this type allows a debtor to propose an adjusted repayment plan before the bankruptcy court and lenders. You can get immediate relief from creditor calls or property foreclosures and unlike a Chapter 7 bankruptcy, you do not have to lose your property. Most borrowers are eligible for this type of bankruptcy.<\/span><\/p>\nWhen should I file for bankruptcy<\/a>?<\/span><\/h2>\nIt is a good time to file for bankruptcy when the following conditions apply to you:<\/span><\/p>\n\n- You are facing financial problems and believe that there is no way for you to pay back your debts<\/span><\/li>\n
- It will be hard for you to make your creditors agree to new payment terms<\/span><\/li>\n
- You fear the possibility of a lender suing you for missed payments or seizing your assets to serve as payment for your balances<\/span><\/li>\n<\/ul>\n
When any of these applies to you, you should closely consider filing for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy<\/a>, which are the most commonly filed types of bankruptcies filed by individual borrowers.\u00a0<\/span><\/p>\nOur Michigan bankruptcy lawyers can guide you towards financial freedom!<\/span><\/p>\nWhat are the steps to filing bankruptcy in Michigan?<\/span><\/h2>\nIn most ways, declaring bankruptcy in Michigan is similar to filing for bankruptcy in another state. The bankruptcy procedure is governed by federal law rather than Michigan state law, and it works by dissolving contracts between you and your creditors, allowing you to start over.<\/span><\/p>\nHowever, Michigan’s bankruptcy laws have a crucial role as well. They select which assets and liabilities you are allowed to retain in your bankruptcy case. You’ll also need to know some additional bankruptcy filing details.<\/span><\/p>\nMichigan Bankruptcy Steps<\/span><\/h2>\nIn order to distinguish the trees, it’s probably a good idea to contemplate the major stages you’ll take along your bankruptcy trip. This checklist may be used as a guideline or to measure your progress. What’s new? You’ve already accomplished the first two!<\/span><\/p>\nBankruptcy Filing Checklist for Chapter 7 and 13<\/b><\/h3>\n\n- See whether bankruptcy eliminates a debt<\/span><\/li>\n
- Examine your property rights<\/span><\/li>\n
- Find out if you qualify for bankruptcy<\/span><\/li>\n
- Consider hiring a Michigan bankruptcy attorney<\/a><\/span><\/li>\n
- Stop paying qualifying debts<\/span><\/li>\n
- Collect financial records<\/span><\/li>\n
- Take credit counseling<\/span><\/li>\n
- Reorganize necessary paperwork to file bankruptcy<\/a><\/span><\/li>\n
- Provide financial records<\/span><\/li>\n
- Attend 341 creditor’s meeting<\/span><\/li>\n<\/ul>\n
\n- Plan payments and attend the confirmation hearing (Chapter 13 only)<\/span><\/li>\n
- Submit a debtor’s education certification<\/span><\/li>\n
- Get your debt relief<\/a><\/span>
<\/b><\/li>\n<\/ul>\nKeeping Property When Filing for Bankruptcy in MI<\/b><\/h3>\n
Bankruptcy does not mean the loss of everything. Your property will be protected by state bankruptcy exemption rules. In order to enhance your case’s value, you need to know the following:<\/span><\/p>\n\n- Property exempt or nonexempt\u00a0<\/b><\/li>\n<\/ul>\n
Exempt property is a property that is protected by federal law. The property is lost in Chapter 7 or must be paid for in a Chapter 13 repayment plan if no exemption applies.<\/span><\/p>\n\n- Choosing state or federal bankruptcy exemptions\u00a0<\/b><\/li>\n<\/ul>\n
You may utilize either the state or federal exemption lists, but not both. Non Bankruptcy filers may utilize state exemptions as well.<\/span><\/p>\nDoubling exclusions if both spouses own the property, filing jointly double some but not all bankruptcy exemptions. The homestead exemption<\/a> cannot be doubled.<\/span><\/p>\n\n- Exemption from COVID-19 rebate.<\/b>\u00a0<\/span><\/li>\n<\/ul>\n
The federal recovery rebate exemption may allow you to preserve stimulus funds, tax credits, and child credits.<\/span><\/p>\n\n- All filers may safeguard retirement funds.\u00a0<\/b><\/li>\n<\/ul>\n
There is a limit on the amount of tax-free retirement savings you may hold per individual (as of June 2021). 11 USC 522(b)(3)(C)<\/span><\/p>\nSeeking Financial Freedom?<\/span><\/h2>\nHow would you like to wake up not worrying about your creditors or pending debt settlements? Our Michigan Bankruptcy Attorneys can help you attain a fresh start! Worried about the cost? We offer payment plans for all budgets and a free credit rebuilding program!<\/span><\/p>\nSpeak with a Michigan Bankruptcy Lawyer Now<\/span><\/h2>\nHere at Hammerschmidt Stickradt and Associates, P.C. Law, your bankruptcy case will be personally handled and evaluated by a reliable bankruptcy attorney. Our Michigan bankruptcy law firm will guide you in selecting the legal help that works best for you during your initial consultation. We also offer a free credit rebuilding program to help you achieve a fresh start. What are you waiting for? <\/span>Contact us today<\/span><\/a> to schedule your free legal consultation!<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":8,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3498"}],"collection":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/comments?post=3498"}],"version-history":[{"count":17,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3498\/revisions"}],"predecessor-version":[{"id":4170,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3498\/revisions\/4170"}],"wp:attachment":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/media?parent=3498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
It\u2019s time to end your financial problems! Struggling with debt can be mentally and physically exhausting. However, you can take CONTROL of your situation if you eliminate debts and make a solid plan to secure your financial future. <\/span>Our experienced bankruptcy attorneys<\/span><\/a> in Michigan can be your legal representation and fight for you tirelessly through the bankruptcy process.\u00a0 We will answer the following questions and more:<\/span><\/p>\n Filing bankruptcy is the most logical solution for individuals and families who are:<\/span><\/p>\n Under Federal law, bankruptcy is both a legal process and a creditor right. It provides individuals financial freedom when they become unable to repay debts or bills. Depending on the type of bankruptcy being filed, it can result in dismissed borrowers\u2019 debts, or an opportunity to catch up on missed payments to avoid losing their property. There are advantages to filing for bankruptcy.<\/span><\/p>\n Bankruptcy helps you manage your debts, get out of debt or dismiss your payment obligation. As soon as you file for bankruptcy protection, the United States bankruptcy court releases an order (called the Automatic Stay<\/a>) that prevents creditors from making any attempts at harassing or collecting from you.\u00a0<\/span><\/p>\n Declaring bankruptcy stops your lending company from garnishing your monthly wages and demanding repayments from you. In addition, if your utilities have been cut because of any overdue payments, bankruptcy filings will help you have these services restored. Moreover, if a creditor fraudulently tries to harass you and collect more than what you owe, you can challenge the claim through the filing of a bankruptcy petition.<\/span><\/p>\n Aside from preventing creditor harassment, bankruptcy can stop foreclosure<\/a> as you extend the period for repaying unsecured debts. You should remember that filing bankruptcy cannot eliminate debts such as liens and mortgages on your property. Filing for bankruptcy can prevent the seizure of your car or another valuable asset. If one of your properties has been repossessed before your date of filing, bankruptcy can have the lender return it to you.<\/span><\/p>\n Make no mistake: bankruptcy will not completely get you out of debt. There are certain limitations as to which types of debts are eliminated in a Michigan bankruptcy. Under bankruptcy law, you cannot entirely eliminate debts in your bankruptcy petition if they fall under the following categories:<\/span><\/p>\n At Hammerschmidt Stickradt and Associates, P.C. Law, our passionate and caring lawyers understand that bankruptcy is not an easy decision to make. This is why we help our clients pick the right type of bankruptcy for them. Through years of experience, we have helped guide over 10,000 toward financial freedom through the following types of bankruptcy:<\/span><\/p>\n Often referred to as straight bankruptcy or <\/span>liquidation bankruptcy<\/span><\/a>, this type helps debtors wipe out dischargeable debts in exchange for giving up certain properties to pay back creditors. Which properties will be sold off and which will remain would depend on state bankruptcy exemption rules.<\/span><\/p>\n Also referred to as <\/span>reorganization bankruptcy<\/span><\/a>, this type allows a debtor to propose an adjusted repayment plan before the bankruptcy court and lenders. You can get immediate relief from creditor calls or property foreclosures and unlike a Chapter 7 bankruptcy, you do not have to lose your property. Most borrowers are eligible for this type of bankruptcy.<\/span><\/p>\n It is a good time to file for bankruptcy when the following conditions apply to you:<\/span><\/p>\n When any of these applies to you, you should closely consider filing for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy<\/a>, which are the most commonly filed types of bankruptcies filed by individual borrowers.\u00a0<\/span><\/p>\n Our Michigan bankruptcy lawyers can guide you towards financial freedom!<\/span><\/p>\n In most ways, declaring bankruptcy in Michigan is similar to filing for bankruptcy in another state. The bankruptcy procedure is governed by federal law rather than Michigan state law, and it works by dissolving contracts between you and your creditors, allowing you to start over.<\/span><\/p>\n However, Michigan’s bankruptcy laws have a crucial role as well. They select which assets and liabilities you are allowed to retain in your bankruptcy case. You’ll also need to know some additional bankruptcy filing details.<\/span><\/p>\n In order to distinguish the trees, it’s probably a good idea to contemplate the major stages you’ll take along your bankruptcy trip. This checklist may be used as a guideline or to measure your progress. What’s new? You’ve already accomplished the first two!<\/span><\/p>\n Bankruptcy does not mean the loss of everything. Your property will be protected by state bankruptcy exemption rules. In order to enhance your case’s value, you need to know the following:<\/span><\/p>\n Exempt property is a property that is protected by federal law. The property is lost in Chapter 7 or must be paid for in a Chapter 13 repayment plan if no exemption applies.<\/span><\/p>\n You may utilize either the state or federal exemption lists, but not both. Non Bankruptcy filers may utilize state exemptions as well.<\/span><\/p>\n Doubling exclusions if both spouses own the property, filing jointly double some but not all bankruptcy exemptions. The homestead exemption<\/a> cannot be doubled.<\/span><\/p>\n The federal recovery rebate exemption may allow you to preserve stimulus funds, tax credits, and child credits.<\/span><\/p>\n There is a limit on the amount of tax-free retirement savings you may hold per individual (as of June 2021). 11 USC 522(b)(3)(C)<\/span><\/p>\n How would you like to wake up not worrying about your creditors or pending debt settlements? Our Michigan Bankruptcy Attorneys can help you attain a fresh start! Worried about the cost? We offer payment plans for all budgets and a free credit rebuilding program!<\/span><\/p>\n Here at Hammerschmidt Stickradt and Associates, P.C. Law, your bankruptcy case will be personally handled and evaluated by a reliable bankruptcy attorney. Our Michigan bankruptcy law firm will guide you in selecting the legal help that works best for you during your initial consultation. We also offer a free credit rebuilding program to help you achieve a fresh start. What are you waiting for? <\/span>Contact us today<\/span><\/a> to schedule your free legal consultation!<\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":8,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3498"}],"collection":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/comments?post=3498"}],"version-history":[{"count":17,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3498\/revisions"}],"predecessor-version":[{"id":4170,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3498\/revisions\/4170"}],"wp:attachment":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/media?parent=3498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
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Seeking Financial Freedom?<\/h2><\/div>
How would you like to wake up not worrying about your creditors or loan balances? Our Michigan Bankruptcy Attorneys can help you attain new financial freedom! Worried about the cost? We offer payment plans for all budgets and a free credit rebuilding program!<\/h6><\/div>
What is Consumer Bankruptcy?<\/span><\/h2>\n
<\/span><\/p>\nBankruptcy eliminates debts<\/b><\/h3>\n
Bankruptcy prevents creditor harassment<\/b><\/h3>\n
Bankruptcy protects your properties<\/b><\/h3>\n
Which debts are not discharged in bankruptcy?<\/span><\/h2>\n
\n
What type of bankruptcy is right for me?<\/span><\/h2>\n
\n
\n
When should I file for bankruptcy<\/a>?<\/span><\/h2>\n
\n
What are the steps to filing bankruptcy in Michigan?<\/span><\/h2>\n
Michigan Bankruptcy Steps<\/span><\/h2>\n
Bankruptcy Filing Checklist for Chapter 7 and 13<\/b><\/h3>\n
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<\/b><\/li>\n<\/ul>\nKeeping Property When Filing for Bankruptcy in MI<\/b><\/h3>\n
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\n
\n
\n
Seeking Financial Freedom?<\/span><\/h2>\n
Speak with a Michigan Bankruptcy Lawyer Now<\/span><\/h2>\n