by Walter Metzen | Jan 20, 2021 | Life After Bankruptcy, reaffirmation of car note, Uncategorized
Your Chapter 7 bankruptcy is a distant memory. It worked out great. You discharged all of your credit card and medical debt. That back rent you still owed from leasing that apartment with that roommate who ran off with a guy halfway through the lease-term is even...
by Walter Metzen | Jan 11, 2021 | Uncategorized
BALLOON PAYMENTS & CHAPTER 13: TO MODIFY OR NOT TO MODIFY? A balloon payment is a large lump sum payment required upon the termination of monthly installment payments, which may have been “interest-only” payments, in some sorts of longer term...
by Walter Metzen | Jan 5, 2021 | Refiling bankruptcy
A Chapter 13 bankruptcy can be dismissed for a number of different reasons. It can be dismissed voluntarily—because you decided that the Chapter 13 process wasn’t working for you at a particular time. It can also be dismissed involuntarily—because you...
by Walter Metzen | Jan 4, 2021 | credit repair and bankruptcy, Credit Score
There is no shortage of signage around Metro Detroit offering to “repair” your credit for a low, flat fee. On highway embankments, hand-scrawled on cardboard in aging office building windows, cluttering Craigslist … If these advertisements are correct, making...
by Walter Metzen | Dec 29, 2020 | cosigners and bankruptcy, Credit Score
The question of how filing for Chapter 7 or Chapter 13 bankruptcy will affect one’s credit score is possibly the most common question potential filers pose to bankruptcy attorneys. Possibly, this question is posited even more frequently than the question of...
by Walter Metzen | Dec 21, 2020 | cosigners and bankruptcy, Uncategorized
CO-SIGNERS AND CO-BORROWERS: AN INITIAL DISTINCTION An individual Chapter 7 or Chapter 13 bankruptcy can be filed by either you alone or jointly with your spouse. In either case, you may have loans that were co-signed for you by your spouse or others, or...
by Walter Metzen | Dec 16, 2020 | Michigan Bankruptcy Attorney
ATTORNEY FEES: UNSECURED BY ANY OTHER NAME … Debt owed to an attorney for fees owed at the time of the filing of a Chapter 7 or Chapter 13 bankruptcy case is not treated any differently than any other sort of unsecured debt, such as a credit card balance or a...
by Walter Metzen | Dec 10, 2020 | Bankruptcy means test
INTRODUCTION: WHAT IS THE CHAPTER 7 BANKRUPTCY MEANS TEST? The Chapter 7 bankruptcy “Means Test” is the mathematical formula that determines whether or not an individual is eligible to file for bankruptcy under Chapter 7 rather than under Chapter 13. ...
by Walter Metzen | Dec 2, 2020 | Inheritance and Bankruptcy
THE CHAPTER 7 AND CHAPTER 13 BANKRUPTCY ESTATE & INHERITANCE The filing of a Chapter 7 or Chapter 13 bankruptcy triggers the creation of a legal construct known as the Bankruptcy Estate. As with its better-known cousin, the Probate Estate, the...
by Walter Metzen | Nov 20, 2020 | Bankruptcy Attorney, Hardship Discharge in Chapter 13 Bankruptcy
When the Unexpected Prevents You from Completing your Chapter 13 Bankruptcy Payment Plan A Chapter 13 bankruptcy is a “payment plan” bankruptcy requiring to pay what you can afford to pay (after household expenses are considered) to your creditors...
