Chapter 7 bankruptcy allows an individual or couple to eliminate unsecured debt, stop creditor harassment and begin to rebuild a new financial foundation. Nonexempt assets are collected by a bankruptcy trustee and sold in order to pay creditors in accordance with the Bankruptcy Code.
In Chapter 7 bankruptcy, Michigan residents are allowed to keep certain assets that are deemed exempt, including retirement savings. Often, clients who fail to work with a knowledgeable bankruptcy attorney early in the process end up forfeiting funds and other assets they could have kept. Do not make the same mistake.
It is necessary to pass a means test before you are able to file Chapter 7 bankruptcy. We will help you complete the forms and navigate this complex process.
Our Solutions Are Tailored To Each Client’s Needs
At Kaye Law Office, PLLC, we help residents with insurmountable debt find the most practical means of restarting their financial life. It may involve filing Chapter 7 or Chapter 13 bankruptcy, or you may be able to accomplish your goals through loan modifications. We never push a one-size-fits-all approach. Instead, we will carefully review the unique aspects of your situation and tailor a strategy to suit your objectives.
Chapter 7 bankruptcy allows an individual to discharge:
- Credit card debt
- Medical bills
- Personal loans
- Utility bills
- Business debts
- Back rent
- Repossession of deficiency balances
Only debt that is accrued before you file for bankruptcy will be discharged. Debt that cannot be discharged through bankruptcy includes child support and alimony, most student loans and most tax debts.
You Will Work Directly With Our Experienced Bankruptcy Lawyer
We encourage you to call 810-694-1211 or use our online contact form to schedule a free 30-minute consultation. We will review your situation and recommend an effective course of action so you can reclaim your financial life.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.