Royal Oak Bankruptcy Attorney
Are you struggling with out-of-control debt?
Whether you are contemplating filing for
bankruptcy for the first time, or for a
second time, at Hensel Law Office, PLLC, we strongly believe that this is a big decision
and it should always be an informed one. At our firm, we are not only
dedicated to helping the residents of Royal Oak find much needed debt
relief, we are 100% committed to helping them make the right decision
about their finances, and in order for us to do our job right, that decision
has to be the best one for our client's unique set of circumstances.
What does this mean to you? It means that we won't advise you to file
for bankruptcy if it doesn't make sense. There are other alternatives
to bankruptcy such as debt consolidation and one of them may be more suitable
for you. On the other hand, if filing for a
Chapter 7 or
Chapter 13 is the most reasonable solution, we will guide you through the bankruptcy
process, streamlining it every step of the way and answering any and all
questions as they arise.
Succeeding financially isn't difficult to comprehend, there must be
more income coming in than what is going out. That said, most of our clients
were doing fairly well on their own at some point in time; however, some
life changing event such as the value of their home drastically dropping
(underwater mortgage), or a sudden job loss, or an illness or disease,
or an accident, or even a divorce occurred which took them completely
by surprise. Many of our clients had excellent credit at one point in
time, yet due to reasons completely out of their control, they lost their
ability to make ends meet and remain above water.
If you are facing eviction, or repossession of your vehicle, or foreclosure
of your home, then we suggest you contact our office as soon as possible.
We know first-hand how situations such as these can be overwhelming and
virtually crippling, but there is no reason why you should face this alone.
There are a number of effective solutions out there that are aimed at
helping people in situations such as these, and we are confident that
once we review the facts of your case, we can help you make the most proactive
and effective decision that can put you in control once more.
No matter how dire your circumstances are, you can take control of your
life, and if filing for Chapter 7 or Chapter 13 bankruptcy is the most
optimum way to accomplish this, then we will carefully guide you through
every step of the
bankruptcy process, and take out the mystery of the
means test and the bankruptcy timeline. We firmly believe that knowledge is power
and the more you know about the
bankruptcy dos and don'ts and how it can put an end to
creditor harassment, the more control you can have over the outcome of your case.
Life after Bankruptcy
Many debtors are unaware of the many benefits of filing for bankruptcy.
It can be a powerful
foreclosure defense and it can put an end to those upsetting collection calls and letters
that never seem to end. What's more, with a Chapter 7 bankruptcy,
a number of unsecured debts such as credit card debts (which can run into
the tens of thousands), medical bills, ambulance bills, taxes of a certain
age, personal loans, and past-due utility bills can literally be wiped
out or discharged. Determining which type of bankruptcy is right for you
will depend upon the types of debts you carry, as well as your personal
income situation. For example, Chapter 7 bankruptcy, otherwise known as
the debt liquidation bankruptcy is typically reserved for those who really
need it. If your income is very low or if you are unemployed, and if your
debts are primarily unsecured, this may be the bankruptcy of choice.
For those debtors who have a regular and sizeable source of income coming
in each month, they are usually diverted to filing the Chapter 13, debt
reorganization bankruptcy, which is not a bad thing. With this Chapter,
homeowners can take advantage of how it can help them save their home
from foreclosure, and it also allows debtors to be put onto a monthly
repayment plan which extends for a 3 to 5 year time period depending upon
their debt load and their income.
While some people pay off all of their debts over this period of time,
some people pay off only a fraction. It's all based on your income,
your debts, and your ability to make a monthly, manageable payment to
the bankruptcy trustee who then distributes your payment to each of your
creditors. In the end, once a bankruptcy is discharged, the debtor can
breathe a huge sigh of relief knowing that they can actually enjoy a true,
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