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Debt Relief Attorney Serving Michigan

Options for Debtors in Sterling Heights, Warren & Beyond

Deciding how best to remedy your debt problems requires knowing the benefits and drawbacks of various debt relief remedies. With the guidance of an experience debt relief lawyer, you can find the best solution for your financial issues.

At Hensel Law Office, we can help you weigh your debt relief options, including:

As a bankruptcy attorney, I am dedicated to providing my clients with whatever assistance they need to get out of debt. I know that financial hardships can be difficult, and will help you develop a strategy to achieve a debt-free life.

Debt Settlement and Negotiation

When you settle your debts, you and your creditors come to an agreement here you repay less than what you owe. Many unsecured debts can be settled with a creditor. However, secured debts are ineligible for debt settlement as creditors can choose to seize assets instead.

Some common debts that can be reduced under debt settlement include:

  • Credit card charges
  • Medical bills
  • Personal loans
  • Payday loans
  • Private student loans

Debt settlement is one possible way of negotiating your debts. You can also negotiate for reduced interests rates and lowered monthly payments.

Many people may not understand why a creditor would ever agree to a debt settlement or negotiation. However, for many creditors, debt settlement is preferable to the debtor filing for bankruptcy. In a bankruptcy, the creditor may not be able to obtain repayment for their loans.

Understanding Debt Consolidation

Debt consolidation is another method of achieving debt relief. When you consolidate your debts, you create one one large loan to pay off your smaller debts. This singular loan often has better payment terms than the individual smaller debts and loans, and any penalties or late fees can be greatly reduced. Additionally, debtors may find it easier to keep track of only one payment each month.

Debt Relief Through Bankruptcy

Most people who file for bankruptcy do so under Chapter 7 or Chapter 13. In Chapter 7 bankruptcy, your non-exempt assets will be cataloged and sold to pay off your creditors. A Chapter 13 bankruptcy will allow you to restructure your payment plans to creditors.

Some of the benefits of bankruptcy include:

  • You will no longer be harassed by creditors, debt collection companies or lenders
  • The risk of losing your personal property through repossession will be eliminated
  • Any foreclosure actions will be stopped
  • You can rebuild your credit
  • The stress of unpaid bills will disappear

I am a Michigan bankruptcy lawyer that has spent over 12 years assisting clients with the bankruptcy process and other debt-relief remedies in Madison Heights, Royal Oak, Sterling Heights, Clinton Township and Warren. If you need a solution to your debt problems, contact my office to schedule a free initial consultation.

Get Rid of Your Debt with Hensel Law Office, PLLC

My firm, Hensel Law Office, PLLC, specializes in bankruptcy cases and helping people get back in control of their finances. These days, it doesn't take much to get into debt. You deserve a second chance to create a better financial future, and I will use all of my knowledge and experience to help you start fresh.

My fees are affordable and you can also take advantage of financing options such as a payment plan, so call today to learn more.

Client Testimonials

  • Utmost dedication and professionalism.

    “I chose to work with Tom Hensel after meeting with several big name firms in the area. Tom handled my unique situation with the utmost dedication and professionalism. The personal service I received from him made all the difference in my case. My only regret is that I didn't call him first.”

    Craig

  • You made a difficult experience so much easier.

    “Back a few years ago, you helped me through a bankruptcy. I still tell people how you made a difficult experience so much easier, with your clarity, support, and friendly approach to the law. I'm still very appreciative for all your help – it really helped to pull me out of a difficult place and put my life back on track.”

    Eric

  • 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

  • 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

  • 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