by Walter Metzen | Nov 16, 2020 | Chapter 13 Bankruptcy
Home Equity in Chapter 13 Bankruptcy: You Won’t Lose Your House in a Chapter 13—But You May Pay More Increasing home equity with rising real estate prices in many areas of Metro Detroit is one thing that many are thankful for this Thanksgiving holiday. However,...
by Walter Metzen | Nov 12, 2020 | Personal loans in Bankruptcy
It is not a good idea to repay personal loans prior to filing bankruptcy. “Personal loans” are, simply, amounts of money borrowed for personal and not commercial use from lenders which require fixed installment payments at some agreed-upon interest rate. However, to...
by Walter Metzen | Nov 9, 2020 | Converting Chapter 13 to Chapter 7 Bankrutpcy
CONVERSION TO CHAPTER 7: WHEN LIFE CHANGES, YOUR CHAPTER 13 CAN, TOO Chapter 13 bankruptcy may appear to be an inescapable, 5-year prison term at first glance. It is a form of consumer bankruptcy, after all, in which a debtor makes an agreed upon monthly...
by Walter Metzen | Nov 2, 2020 | Trust Assets in Michigan Bankruptcy
Placing assets into a trust prior to filing a Chapter 7 or Chapter 13 bankruptcy may effectively shield the asset from inclusion in what is known as “the bankruptcy estate,” or it may deliver the property straight into the hands of a Chapter 7 Trustee. The bankruptcy...
by Walter Metzen | Oct 27, 2020 | Filing Bankruptcy in Michigan if you live overseas
US BANKRUPTCY FOR EXPATRIATES & MILITARY PERSONNEL: GET YOUR FRESH START EVEN WHEN ABROAD The US Chapter 7 and Chapter 13 bankruptcy process is available to Americans or those with American debts and assets even when that person is living abroad. An...
by Walter Metzen | Oct 25, 2020 | filing bankruptcy in Michigan, Michigan bankruptcy, Michigan Bankruptcy Attorney
SMALL BUSINESS ADMINISTRATION Loans: DISCHARGEABLE IN BANKRUPTCY An SBA loan is as dischargeable in Chapter 7 or Chapter 13 bankruptcy as any other sort of unsecured debt—with a few caveats. First, it is worth discussing why a debt may or may not be...
by Walter Metzen | Oct 20, 2020 | Bankruptcy, Documents needed to File a Bankruptcy in Michigan, filing bankruptcy in Michigan
BANKRUPTCY, DOCUMENTATION, AND THE DEBTOR’S DUTY TO COOPERATE “Why do I have to give you all of these documents?” is one of the most common questions that consumer bankruptcy attorneys hear from their clients. What documents? In a Chapter 7 or...
by Walter Metzen | Oct 14, 2020 | Bankruptcy Attorney in Michigan, Chapter 13 Bankruptcy, Michigan bankruptcy
THE CONFIRMED CHAPTER 13 BANKRUPTCY PAYMENT PLAN: NOT ETCHED IN STONE The Chapter 13 bankruptcy process consists of 2 separate stages: (1) the “pre-Confirmation” stage; and (2) the “post-Confirmation” stage. When you initially file your Chapter 13...
by Walter Metzen | Oct 7, 2020 | Credit Score, Life After Bankruptcy
MICHIGAN CHAPTER 7 & CHAPTER 13 BANKRUPTCY: POST-DISCHARGE CREDIT REPORTING The legislative purpose of Chapter 7 and Chapter 13 bankruptcy is to give an honest debtor a fresh start. However, what does and does not constitute a “fresh start” is unfortunately...
by Walter Metzen | Oct 3, 2020 | Automatic Stay, Filing Bankruptcy in Michigan, Michigan bankruptcy
MICHIGAN CHAPTER 7 & CHAPTER 13 BANKRUPTCY: THE DISCHARGE INJUNCTION The discharge of debt received at the end of a successful Chapter 7 or Chapter 13 bankruptcy proceeding is one of the most powerful civil remedies available under US law. The...
