Filing a Chapter 7 Bankruptcy in Michigan with 248 Lawyers P.C.

Filing a chapter 7 bankruptcy in Michigan is not the end rather a new beginning. Call 248 Lawyers P.C. and see how you can reboot your credit.

Chapter 7 Bankruptcy (sometimes call a straight bankruptcy) is a liquidation proceeding. The debtor (you) turns over all non-exempt property to the bankruptcy trustee who then converts it to cash for distribution to the creditors. The debtor receives a discharge of all dischargeable debts usually within four months. In the vast majority of cases the debtor has no assets that he would lose so filing for a Chapter 7 will give that person a relatively quick "reboot". You'll need a good Chapter 7 Bankruptcy lawyer to do it however.

You may have heard television or radio advertisements stating that the "new" bankruptcy laws will force you to repay your debt, but that is not true. It is true that there are more hoops to jump through under the new bankruptcy laws and it's true that the Bankruptcy Means Test will result in some people having to file a Chapter 13 Bankruptcy instead of a Chapter 7 Bankruptcy. However, for the vast majority of filers, Chapter 7 is still available with very little extra effort. While there are a large variety of personal debts, people most commonly file a Chapter 7.

Bankruptcy because of:

Unemployment
Large Medical Bills
Overextended Credit
Large Unexpected Expenses
Changes in Mortgage Terms

If you have previously filed a Chapter 7 Bankruptcy, you must wait eight years before filing again.

After filing, you will be allowed to keep most, or in some situations, all of your personal property by utilizing the exemptions. At 248 Lawyers P.C., our experienced Chapter 7 Bankruptcy attorneys will make sure those exemptions are utilized to the maximum extent.

Most of your debts will be erased, or liquidated when the bankruptcy court grants your discharge. However, certain debts are non-dischargeable. These include:

Child support
Alimony
Income tax debt
Debts from fraudulent activity or unlawful conduct

Student loans are technically dischargeable in a bankruptcy. However, the current laws make them practically impossible to do so.

We are a debt relief agency, helping people under the Bankruptcy code.

248 Lawyers P.C. offices are located in Madison Heights and Port Huron. We serve clients in Oakland County, Saint Clair County, Livingston County, Macomb County, Wayne County, Sanilac County, Washtenaw County, Genesee County, Lapeer County, and the entire State of Michigan.