Bankruptcy Process in Michigan
Understanding the Steps in Bankruptcy
There are very specific steps in the bankruptcy process that must be followed
before the court will approve your petition. You will be legally required
to take the
means test, which will determine if you qualify for
Chapter 7, the liquidation of non-exempt assets to pay creditors. If the test shows
that you have sufficient disposable income to pay back creditors, you
will be required to file for
Chapter 13, the restructuring of creditor payment plans.
Other steps in the process include:
When you file for Chapter 7, a bankruptcy trustee will be assigned to your
case. After your non-exempt assets have been sold, the trustee will distribute
the proceeds to your creditors. In a Chapter 13 bankruptcy, you will meet
with your creditors in bankruptcy court, where your repayment plan will
be reviewed. Retaining the services of a
Michigan bankruptcy attorney to assist you with the bankruptcy process is strongly recommended. Bankruptcy
laws can be extremely complex and any mistakes or errors in your petition
can delay your bankruptcy or even result in a petition denial. A bankruptcy
lawyer will ensure you have completed the required steps of the process,
and your paperwork is in compliance with state and federal laws.
Retain the Services of a Bankruptcy Lawyer
The more you know about the bankruptcy process and
timeline, the easier it will be to decide if you want to take advantage of this
legal remedy. My firm, Hensel Law Office, PLLC, has represented individuals
from all walks of life seeking bankruptcy protection, and can help you
decide if bankruptcy the rights solution for your debt problems. This
includes individuals in Warren and Sterling Heights, as well as the areas
of Madison Heights, Royal Oak, and Clinton Township.
I am a sole practitioner that works closely with each of my clients, and
will personally manage every aspect of your bankruptcy case. You will
never be passed off to another attorney, paralegal or secretary. As a
Michigan bankruptcy lawyer, I strive to provide my clients with outstanding
service, and will always be attentive to your needs.
Contact my firm today to learn more about how I can help.