A personal bankruptcy is a federal legal proceeding designed to help people overcome the pressures that financial problems due to overwhelming debt can cause. There are basically two forms of bankruptcy for consumers under the bankruptcy code, Chapter 7, in which you pay nothing to your creditors, and Chapter 13, which is a court supervised repayment plan in which you simply pay what you can afford to your creditors, over a 3 to 5 year time period. Both Chapter 7 and Chapter 13 can be filed either by individuals or married couples. If you are married, you can either file by yourself individually (your spouse is not required to file with you), or jointly as a married couple.
As soon as you retain our office, we begin working on your case, and you will feel a sense of relief knowing that you have taken the first step in relieving yourself of your debt burden. I cannot tell you how many clients have breathed a huge sigh of relief after simply sitting down with me for a consultation in which I explain what a bankruptcy filing can do for their particular circumstances. After you retain my office, you can begin telling your creditors that you have a bankruptcy attorney and we will handle the collection calls for you. With my office, you can take up to one year to pay our fee, but the sooner you pay us, the faster your bankruptcy petition will be filed and the sooner you will be on your way to getting a discharge. A bankruptcy case is started by the filing of a bankruptcy petition. My office has prepared over 10,000 such petitions for people in the greater Detroit area. As soon as the petition is filed, the bankruptcy court imposes the automatic stay. This stay stops creditors from engaging in all collection activities ranging from sending threatening letters or calling you at home or work, to suing you, garnishing your wages, repossessing your car, foreclosing on your home, disconnecting utility services, seizing your income tax refunds, bank accounts or other personal property. After the case is filed, you will attend a brief court hearing with the bankruptcy Trustee and your attorney. My office will monitor your case every step of the way to make sure you get your discharge. The discharge is the ultimate goal of a consumer bankruptcy case. This is a federal court Order that is sent to all of your creditors that orders your debt wiped out and prevents the creditor from ever collecting. My office has virtually a 100% success rate in obtaining a discharge in a typical Chapter 7 bankruptcy.