Bankruptcy Lawyer

We help many clients discharge large amounts of debt using bankruptcy.

We work with single, married, and divorced bankruptcy filers. We meet with each of our clients to determine their individual needs and concerns. Our lawyers provide professional guidance based upon law and experience. bankruptcy lawyer taylor mi & Chapter 11, 13, 7 Bankruptcy attorney in Allen Park, Taylor, Dearborn Heights, Downriver Michigan
bankruptcy Attorney

Some of the most common bankruptcy questions we receive:

 

What is the difference between chapter 7 Bankruptcy, Chapter 11 Bankruptcy and Chapter 13 Bankruptcy?

A chapter 7 bankruptcy is designed to discharge most of your debts, if not all. A chapter 13 bankruptcy is payment plan where you pay back part of the amount you owe to your creditors and then your debts are discharged after 3 or 5 years. Chapter 11 is generally for businesses to reorganize.

 

What are the advantages of a Chapter 7 Bankruptcy?

You get to discharge most if not all of your debt without having to make payments going forward. Your debts are usually discharged within 4-6 months.

 

What are the disadvantages of a Chapter 7 Bankruptcy?

You have to give up some if not all of your property. Not everyone qualifies for Chapter 7 Bankruptcy your income must be below certain maximums.

 

What are the advantages of a Chapter 13 Bankruptcy ?

In chapter 13 Bankruptcy you get to keep all your property. Chapter 13 Bankruptcy provides an opportunity for some in foreclosure to keep their homes and catch up on the arrearage over time. It may lower the payments you are currently making on your property. Chapter 13 Bankruptcy may protect co-signers of debts as well.

 

What are the disadvantages of a Capter 13 Bankruptcy?

In chapter 13 Bankruptcy you have to make payments over a number of years and pay a percentage of your debts. If you are unable to make your payments your case can be dismissed and creditors maybe able to come after your assets and property.

 

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(313) 381-9000

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