- Divorce
- Child SupportAlthough bankruptcy is a practical way to rid yourself of overwhelming debt, you must understand that this will not necessarily free you of all financial obligations. Certain debts are considered to be "non-dischargeable" under the U.S. Bankruptcy Code for a variety of reasons. First, the bankruptcy court is prohibited from waiving specific types of debt—including state and federal taxes, overdue child support and student loans. Second, the judge can choose not to discharge certain debts if they believe that the petitioner has attempted to defraud the court, either by racking up new debt immediately before filing or concealing valuable assets. Finally, all debts that have not been included on the filer's petition will be barred from discharge—regardless of whether or not they would have otherwise qualified. For this reason, it is highly recommended that you retain the help of a Michigan bankruptcy attorney.
- Spousal SupportAdditionally, while child and spousal support obligations cannot be fully discharged in any form of bankruptcy, they can be a part of the three to five-year plan with a Chapter 13 filing. This means you can pay these debts off over the duration of the plan.
- BankruptcyLast month the United States Bankruptcy Court announced that it would be increasing the filing fees for Chapter 7 & Chapter 13 Bankruptcy cases effective JUNE 1, 2014. The Chapter 7 filing fee will be raised from $306 to $335. The Chapter 13 filing fee will be raised from... Read More
- ForeclosureFinancial problems can be caused by many different situations, including the loss of a job, a divorce or an unexpected health crisis. You can also get into financial trouble by using too many high-interest credit cards or simply spending more than you make. Overwhelming debts can have many undesirable consequences, such as creditor harassment, lawsuits and the repossession of your personal property. If you are a homeowner and can no longer make your mortgage payments, you may even lose your home through foreclosure.
- Debt CollectionThe Fair Debt Collection Practices Act (FDCPA) prohibits debt collection agencies from harassing debtors and requires them to adhere to strict collection guidelines. Are you being contacted by collection agencies seeking payment on the money they are owed? Knowing your rights can prevent abuses, and help reduce any stress you may be experiencing from unethical collection practices.