Most clients who walk into my Michigan bankruptcy office are coming as a last resort. They have been beaten down by nagging creditor calls and letters threatening to take them to court or are subject to a creditor wage garnishment or having their bank accounts levied. The vast majority of my clients should have come to see me earlier, they would have saved themselves a lot of grief. The reason most people wait so long is because there is still a stigma associated with a bankruptcy filing.
People associate a bankruptcy filing with them being labeled a loser by their friends and neighbors, although they do not feel the same way when a large corporation like General Motors files a bankruptcy to free the company of overwhelming debt, reorganize and move forward. Most consumer bankruptcy cases that my office files for people in the Metro Detroit area are good solid bankruptcy cases, meaning that the individual or married couple filing has a reason for having to file. Their filing was precipitated by job loss, reduction in hours, divorce, illness or other tragic loss. These are things that are out of my client’s realm of control.
Most of my clients simply do not have any money left over at the end of the month to pay their creditors. All of their take home pay is used for reasonable living expenses to pay for housing, food, utilities, transportation, insurances, medical etc. They simply have no extra money to pay bill collectors and bankruptcy is the right choice because it will eliminate the debt and stop the creditor’s collection efforts.
Chapter 7 is one of the most common and least complicated forms of bankruptcy. As a bankruptcy attorney who has handled thousands of Chapter 7 filings, I can help you understand how this type of bankruptcy may be beneficial to your case. I am Walter Metzen, an attorney that has been assisting clients and practicing law in Detroit, Michigan for over 14 years. My goal is to get you the debt relief you need in order to regain control of your debts and alleviate the stress that your financial troubles may be causing.
In a Chapter 7 filing, a list of all your outstanding debts is made. These are the debts that may be discharged completely. This is different from a Chapter 13, where your debts are reorganized and structured payment plans are created.
After the Chapter 7 filing, your creditors receive notice that the bankruptcy has been filed; are given an opportunity to object to the bankruptcy or to file claims to retrieve collateral under security interests they hold; and also barred from harassing you due to a stay that is in place prohibiting such actions. An experienced bankruptcy attorney like me can help you determine which debts are subject to liens or not dischargeable.
Contact a Detroit Chapter 7 Bankruptcy Lawyer that, not only fully understands the bankruptcy process, but also can realistically advise you of your options. Feel free to schedule your free initial consultation. During this time, we can discuss your case and I can help you take charge of your financial situation. CLICK HERE for a Glossary of Bankruptcy Terms
We are a Debt Relief Agency helping people file for bankruptcy relief under the Bankruptcy Code. Let us help you decide if bankruptcy is right for you.