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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. At 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

  • 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.

  • We couldn't have gotten through this difficult process without Tom.

    “We couldn't have gotten through this difficult process without Tom. We evaluated a number of bankruptcy attorneys and found Tom to be the most knowledgeable and compassionate. He takes the time to explain all aspects of the process and answers your questions thoroughly and promptly both in person and via email. He knows the law and ensures that you receive the best treatment possible depending on your particular situation.”

    T & J

  • Mr. Hensel walked me through every step.

    “I would highly recommend the Hensel Law Office!! Mr. Hensel walked me through every step, got my garnishments stopped very quickly (even got garnished wages returned to me!) and told me what to expect along the way. He answered all of my questions in a very timely manner- no matter what time I sent an email or gave him a phone call. Also, I felt his price was very reasonable compared to some of the other places that I called. Mr. Hensel answered plenty of questions that I had before I even became a client.”

    Carl

  • We have and will continue to recommend you to others in need of a fresh start.

    “Dear Tom, my husband and I wanted to express our deepest thanks for the help you gave us during our embarrassing and stressful time. I was very impressed that you returned every phone call in a timely manner. You were able to explain exactly what was going to happen in words that "we" could understand. You answered every question we threw at you. The whole bankruptcy process from start to finish was complete in the time you told us it would take. Your professionalism yet friendliness made the whole experience for us almost enjoyable... almost! We have and will continue to recommend you to others in need of a fresh start.”

    Melissa

  • Sincerest thanks for all of your help in affording me what I consider a real "fresh start."

    “I wanted to give you my sincerest thanks for all of your help in affording me what I consider a real "fresh start". My divorce was unfortunate but definitely a needed change for the better. However, the financial side of things still seemed to keep that past linked, which makes this an enormous weight lifted. I just can't believe the impact it's made on my outlook with...everything.I will be sure to keep your business cards handy to distribute along with highly favorable words of recommendation should the needs arise.Thank you again for your time and professional guidance.”

    Michelle