When dealing with so many financial issues, you might reach a point of desperation and be willing to do anything to get rid of your debt. Your situation has probably gotten so bad that filing bankruptcy has become worth seriously considering. If you made bad financial choices that led to your credit card debt<\/a> piling up, <\/span>filing for bankruptcy might make sense<\/b>. Still, it would be a good decision to ask yourself: <\/span>“When should I file for bankruptcy?”<\/b><\/p>\n Sudden and dramatic changes in your life usually cause most financial troubles you may experience.<\/span> It\u2019s very easy to accumulate credit card debt<\/a> with even just one of the following: <\/span>loss of livelihood<\/b>, <\/span>accidents<\/b>, <\/span>death of a loved one<\/b>, and <\/span>serious medical conditions<\/b>. A bankruptcy filing may help you get back on your feet financially without creditors and debt collectors pestering you.\u00a0\u00a0\u00a0<\/span><\/p>\n Asking yourself, “when should I file for Bankruptcy” is one of the important keys to experiencing debt relief. <\/span>The importance of being aware of what you can expect should never be taken for granted. <\/b>Our team at Hammerschmidt Stickradt & Associates<\/span><\/a> will see that none of your resources are wasted during your quest for debt relief. If you are looking for a skilled Bankruptcy lawyer to walk you through the whole Bankruptcy proceedings, call our Bankruptcy law office today!<\/span><\/p>\n Besides knowing the answer to “when should I file for bankruptcy,” a reliable Bankruptcy attorney finds a lot of joy and fulfillment in helping clients navigate through a really difficult period. At Hammerschmidt Stickradt & Associates, our Michigan bankruptcy<\/a> case attorneys will help you regain control over your money and make you generally feel less worried about your debt<\/span>.<\/b><\/p>\n We also believe that a trustworthy Bankruptcy relief attorney upholds good moral values while also:<\/span><\/p>\n Unsure of what your next move will be? <\/span>Avail of Hammerschmidt Stickradt & Associates’ free consultation<\/b><\/a> to get a clearer answer to the question of \u201cwhen should I file for Bankruptcy.\u201d<\/span><\/p>\n Bankruptcy is a federal legal process by the United States government to help an individual or group clear their debt or create a plan to gradually repay what they owe. Contrary to what some people think, bankruptcy can be a good thing as it acts as a safety net for an individual, family, or business that owes a large sum of money. The federal courts are the ones handling all Bankruptcy cases.<\/span><\/p>\n To be eligible for a bankruptcy filing, you must appear before the bankruptcy court and follow any orders they give <\/span>180 days before filing<\/b>. You should also attend a credit counseling session from an approved credit counseling agency within 180 days before submitting your petition unless you qualify for an exception. The counseling you\u2019ll be given should tell you the answer to \u201cwhen should I file for Bankruptcy.\u201d<\/span><\/p>\n Still wondering, \u201cwhen should I file for bankruptcy\u201d? The following frequently asked questions should tell you more about how you can file for bankruptcy, the types of bankruptcy chapters to choose from, what you can file for, and if there are alternatives to Bankruptcy.<\/span><\/p>\n There are a total of five bankruptcy chapters according to the United States Bankruptcy Code:<\/span><\/p>\n \u00a0<\/span>Chapter 7 Bankruptcy<\/a><\/b> involves the liquidation of a debtor’s non-exempt properties for debt relief.<\/p>\n \u00a0<\/span>To give a definitive answer to \u201cwhen should I file for bankruptcy,\u201d you need to determine if you are actually eligible to be a bankruptcy petitioner and what you need to do before filing.<\/span><\/p>\n Also called liquidation bankruptcy, Chapter 7 Bankruptcy<\/a> is where a bankruptcy trustee gathers and sells some or most of your personal assets that are not protected by Colorado Bankruptcy exemptions. The money raised during the liquidation process will then be used to pay your debt. After filing for it successfully, this Bankruptcy chapter will be in effect for 3 to 6 months.<\/span><\/p>\n Knowing which of your property can be exempted from liquidation is crucial to prevent having all of your valuables taken away from you. Under normal circumstances, you can keep your car, social security, and other personal belongings like your clothes. Speaking with a reliable Colorado Bankruptcy attorney about these Bankruptcy exemptions should give you a better idea of what to expect during the Michigan Chapter 7 Bankruptcy<\/a> proceedings.<\/span><\/p>\n Also known as consumer reorganization, Chapter 13 Bankruptcy is where the debtor does not need to surrender personal property or assets. You will instead be given 3 to 5 years to repay your creditors through a debt settlement plan.<\/span> The length of time you will be given to pay your debt will depend on how much is your monthly income during the date of filing a bankruptcy petition.<\/span><\/p>\n A regular source of income is necessary to qualify for Chapter 13 Bankruptcy filing<\/a>. <\/span>It is also considered the most helpful Bankruptcy chapter as it allows you more opportunity to pay your debt on time.<\/b><\/p>\n To help you answer the question \u201cWhen should I file Bankruptcy\u201d and determine which Bankruptcy chapter best suits your needs, reach out to a Royal Oak Bankruptcy attorney immediately!<\/span><\/p>\n Your question of “when should I file for Bankruptcy” should already be answered by this time. But before filling up forms, it would be good to <\/span>consider other alternatives to Bankruptcy as this may cost you much less money, time, and effort<\/b>.<\/span><\/p>\n Below are some actions to consider before you go through the Bankruptcy proceedings:<\/span><\/p>\n Additionally, not doing anything is an option if you earn very little and don\u2019t have any assets. Nonetheless, it is best to speak with a Michigan bankruptcy<\/a> attorney before deciding. Deal with secured debt and unsecured debt with our help!<\/span><\/p>\n Whether or not you already know the answer to “when should I file for bankruptcy,” <\/span>your choice will determine your financial situation for the next few months or years<\/b>. That\u2019s why having <\/span>great legal representation<\/b><\/a> is essential when deciding to go through bankruptcy.<\/span><\/p>\n Aside from giving you the answer to \u201cwhen should I file for bankruptcy,\u201d Hammerschmidt Stickradt & Associates also offers excellent debtor education and reliable legal advice on the following <\/span>practice areas<\/span><\/a>:<\/span><\/p>\n Give us a call for a <\/span>FREE consultation<\/b>, and we\u2019ll do our best to help fix your problems!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Bankruptcy Attorney in Royal Oak, MI When dealing with so many financial issues, you might reach a point of desperation and be willing to do […]<\/p>\n","protected":false},"author":8,"featured_media":3735,"parent":2001,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3739"}],"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=3739"}],"version-history":[{"count":14,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3739\/revisions"}],"predecessor-version":[{"id":4245,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/3739\/revisions\/4245"}],"up":[{"embeddable":true,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/pages\/2001"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/media\/3735"}],"wp:attachment":[{"href":"https:\/\/hsapclaw.com\/wp-json\/wp\/v2\/media?parent=3739"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Why do I need a Bankruptcy Attorney in Michigan?<\/b><\/h2>\n
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What is Bankruptcy?<\/b><\/h2>\n
What are the different Bankruptcy chapters?<\/b><\/h3>\n
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What is Chapter 7 Bankruptcy?<\/b><\/h3>\n
What is Chapter 13 Bankruptcy?<\/b><\/h3>\n
Are there alternatives to Bankruptcy?<\/b><\/h3>\n
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Call our Michigan Bankruptcy Attorney Now!<\/b><\/h2>\n
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