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Benefits of Filing for Bankruptcy in Michigan

Struggling with debt? Bankruptcy may be right for you.

Although the economy has continued to steadily rebound, countless families and individuals have been left reeling in the aftermath. As such, it is no surprise that the number of personal bankruptcies in the U.S. has been on the rise since the market crashed. If you have been forced into a similar situation, it is important to understand that you are not alone. Although most people feel that filing for bankruptcy is something to be embarrassed about—namely due to the misconceptions that surround this process—we are here to inform you that there is no shame in getting your financial future back on track. With the help of a Michigan bankruptcy attorney from Hensel Law Office, PLLC, you can take control of your debt and move forward with a fresh start.

Listed below are just some of the numerous benefits that you can glean from the bankruptcy process:

  • Discharging all eligible debts once and for all
  • Fighting foreclosure, repossession & wage garnishment
  • Stopping creditor harassment & debt collection efforts
  • Moving forward in your life with a clean slate

Benefit #1 - Freeing Yourself from Unmanageable Debt

The most significant benefit of filing for bankruptcy would be the eventual discharge of debt. While this could take a matter of months or three to five years, depending on the type of petition that you file, this process is one of the most practical ways to eliminate debt once and for all. When filing under Chapter 7, for example, you would have the opportunity to liquidate non-exempt assets and use the proceeds of their sale to repay creditors.

Once this is done, the court would grant a discharge of all remaining debts—freeing you of the legal responsibility to repay them. Although the same would apply when filing under Chapter 13, this process allows for more gradual relief. Since it would require you to reorganize your debt and develop a repayment plan, this process is typically executed over the course of three to five years. In the end, however, the court may grant a discharge of any remaining debts.

Benefit #2: Acquiring the Protections of an Automatic Stay

Another reason that you may want to consider bankruptcy is for the protection that you are afforded by the automatic stay. Once you file your petition with the court, a judge will move quickly to issue this order—which would effectively prohibit all creditors from contacting you and/or continuing their collection efforts. This means that you would be protected from all creditors' efforts to initiate foreclosure, repossess your property or even garnish your wages.

Additionally, you would no longer have to worry about creditors harassing you over the phone or by mail, as this is strictly prohibited. If they were to contact you after the automatic stay has been put into place, you would have the right to take legal action against them and possibly even pursue compensation.

Benefit #3: Moving Forward with a Fresh Start

Once you have successfully completed the bankruptcy process in Michigan, you may find that a weight has been lifted. Not only would you be free of the obligation to repay your debts, but you would have the opportunity to move forward with a clean slate—which is, ultimately, the goal. For this reason, you should not hesitate to pursue the relief that you are looking for by contacting the legal team at Hensel Law Office, PLLC today.

Our Michigan bankruptcy lawyers are also available to meet with you in the evening or on the weekend, so there is no reason why you should wait any longer to acquire the professional help that you will need. Call today to schedule an appointment.

When you contact our office at (888) 258-0651, your initial consultation won't cost you a thing!

Client Testimonials

  • Professional, competent, empathetic attorney.

    “My husband and I were forced into a position to file for Chapter 7 bankruptcy. We were devastated and mortified that we had to choose that route, but Tom eased our stress about the filing and court hearing process, as he thoroughly explained what Chapter 7 entails, as well as exactly what to expect during and after the filing process; he was accurate on each point that he advised us on. Tom also kept in frequent contact with us and responded quickly to any questions or concerns that we had while we worked with him. Tom's expertise and tact was invaluable for us, and we will absolutely recommend him to any of our friends and relatives that may find themselves in similar positions to ours. Thank you, Tom, for your dedicated help during this process.”

    EJO

  • His knowledge and expertise made a very difficult time in our lives much easier.

    “From start to finish our experience with Mr. Hensel was great. He carefully and thoroughly explained the entire process to us and was always available for any questions or concerns we had. His knowledge and expertise made a very difficult time in our lives much easier. We are very thankful for his help in our situation.”

    Christine and John

  • He is respectful and down to earth with his approach to very complicated legal matters.

    “Hensel Law Office has helped me during a very difficult time in my life. Tom has done a wonderful job with my Chapter 13 case. He always kept in touch with me and explained everything in terms I could understand. I would highly recommend Mr. Hensel to anyone who is facing any bankruptcy filing. He is respectful and down to earth with his approach to very complicated legal matters.”

    Sandra

  • Tom Hensel is definitely the right attorney to call!

    “I was referred to Tom Hensel by a friend. My first impression was not only was Tom professional but he's so kind and caring too. He helped my husband and I through an embarrassing, scary situation and definitely made it more positive one. He guided us through our options and helped us make the right decision for us which ended up being a chapter 7 bankruptcy. Tom was so knowledgeable and helped us throughout the whole process. He never once made us feel uncomfortable or dumb when we had questions. He was also very easy to get a hold of when questions would come up and would always return our calls and emails promptly. I strongly recommend Tom to anyone going through this kind of financial nightmare. Do yourselves a favor and call him right away. He will help you get on the right path again. Our only mistake was waiting so long to call him!! When we in court waiting our turn all the other attorneys referred to their clients as "The debtors" Tom on the other hand acknowledged us by our names. Little things mean a lot and that left a lasting impression with us. Tom Thank You again for all your help!!”

    Stacy S.

  • He always responded quickly and intelligently.

    “Mr. Hensel made a difficult and uncomfortable situation as easy as possible for me. He always responded quickly and intelligently to my questions and never made me feel as if I were bothering him. He explained the unknown aspects of bankruptcy, the court system, and my options in clearly understandable terms. I felt confident that he was handling my case in the best possible manner and in my best possible interests. I feel lucky to have found the Hensel Law Office and I never hesitate to refer others who could use assistance - because I know they will get superior service and help.”

    Kelly