consultation we’ll conduct a thorough analysis of your financial situation to help you decide if filing for bankruptcy is your most effective solution. We’ll thoroughly explain your rights under Bankruptcy Law and explain the advantages and disadvantages of your available options, which include:
- Chapter 7 bankruptcy. Designed to allow individuals permanent relief from all or most of their debts. The majority of individuals who file a Chapter 7 Bankruptcy will receive a discharge for credit card debts, medical bills, and other unsecured loans or debts. However, certain debts, such as child support, alimony payments, and some taxes cannot be discharged.
- Chapter 11 bankruptcy. Allows a struggling business to get its affairs in order and create a plan to pay its creditors a portion of what is owed to them. An individual may also file a Chapter 11 Bankruptcy if they are not eligible for Chapter 13 Bankruptcy or own large amounts of property that cannot be protected using the Bankruptcy exemptions that are available. A Chapter 11 Bankruptcy is usually much more expensive and time consuming than Chapter 13 Bankruptcy.
- Chapter 13 bankruptcy. Designed to allow individuals to create a plan to pay their creditors a portion of what is owed to them, usually on a monthly basis. The balance that remains unpaid will be then discharged when the plan has completed. Most plans last from 3 to 5 years. The amount that you will need to pay is based upon your income and how much debt you owe. These payments are usually less than the monthly payments an individual owes to creditors.
If you’ve been sued in a bankruptcy case, are wondering if you can avoid a second mortgage on your house, or need to know if you can sue someone or a company that has filed for bankruptcy, during your fee consultation we’ll analyze your situation and discuss all of your available options.
Call 734-416-1780 now to discuss your problems and schedule your free consultation.
- Adversary Proceedings. A separate lawsuit filed within a bankruptcy case. For instance, a creditor may file a complaint to block the discharge of its particular debt. Or, a bankruptcy trustee may seek to regain property that you gave or sold to someone else before your bankruptcy. You can also file an adversary proceeding - you may wish to get rid of a junior mortgage on your house in a Chapter 13 case, or you may wish to discharge student loans
Located in Plymouth, Michigan, we represent clients throughout the State of Michigan.Bernardi, Ronayne & Glusac, P.C., is a debt relief agency located in Plymouth, Michigan. Among other services, we help people file for bankruptcy relief under the U.S. Bankruptcy Code.