by Walter Metzen | Mar 16, 2023 | Chapter 7 Bankruptcy, QDRO in Bankruptcy
Chapter 7 bankruptcy is a highly effective means of eliminating debt and obtaining a fresh financial start in life. However, the bankruptcy process is complex. This is especially true when it comes to determining what property is exempt (safe from liquidation) and...
by Walter Metzen | Mar 10, 2023 | chapter 13 bankruptcy
Much can go wrong in Chapter 13 bankruptcy in Michigan. Some of these the things that tend to go wrong in a Chapter 13 bankruptcy proceeding are your fault. Some, however, are not. This Article will explore the Top 5 things that can go wrong during a Chapter 13...
by Walter Metzen | Mar 3, 2023 | bankruptcy budgeting, budgeting to avoid bankruptcy
Creating a household budget can be a highly useful step to take in preparation for filing a bankruptcy in Michigan. Alternatively, it can also be a useful means of avoiding the need to file bankruptcy—if your circumstances allow. If proceeding with a Chapter 7 or...
by Walter Metzen | Feb 28, 2023 | Gambling Debt and bankruptcy in Michigan
Bankruptcy is a legal process that allows individuals or businesses to discharge their debts and start fresh. However, not all debts are dischargeable under bankruptcy law, including gambling debts incurred within a certain timeframe before filing for bankruptcy. In a...
by Walter Metzen | Feb 27, 2023 | fraudulent debt in bankruptcy
The US Supreme Court has issued a new ruling regarding the bankruptcy dischargeability of debts incurred through fraud. Whenever the US Supreme Court rules on a consumer bankruptcy question, it is a noteworthy occasion. This is because it just doesn’t happen all that...
by Walter Metzen | Feb 21, 2023 | Bankruptcy
Bankruptcy is often seen as a last resort for those in financial distress, but it can also be a tool for social justice. In a country where economic inequality is a growing problem, consumer bankruptcy can help level the playing field for those who are...
by Walter Metzen | Feb 10, 2023 | bankruptcy attorney fees in Chapter 13
An application for attorney compensation or “fee application” in Chapter 13 bankruptcy refers to the request a bankruptcy attorney makes to the bankruptcy court for payment of their legal fees. In Chapter 13 bankruptcy, individuals are required to make...
by Walter Metzen | Feb 10, 2023 | assets in bankruptcy, Protecting your IRA in Bankruptcy, what assets can I keep if I file bankruptcy
A tax-qualified retirement account such as a 401(k), 403(b), or Simple IRA is generally “safe” in Chapter 7 bankruptcy. Safe, in the Chapter 7 bankruptcy context, means that the retirement account is safe from seizure and liquidation by the Chapter 7 Bankruptcy...
by Walter Metzen | Feb 3, 2023 | Chapter 7 Bankruptcy Trustee
“What is a Bankruptcy Estate?” When someone files for bankruptcy, all of their assets become part of a bankruptcy estate. The bankruptcy estate is a legal entity that is created for the purpose of liquidating the assets of the debtor (the person who...
by Walter Metzen | Feb 3, 2023 | Documentation needed to file bankruptcy, Documents needed to File a Bankruptcy in Michigan
A Chapter 7 or Chapter 13 Bankruptcy Trustee has broad power to demand documentation from you. When you file for bankruptcy in Michigan, you are, in fact, volunteering to provide an enormous amount of information about yourself to the US Bankruptcy Court—and...
