by Walter Metzen | Sep 30, 2020 | Chapter 13 Bankruptcy, filing bankruptcy in Michigan
CHAPTER 13 BANKRUPTCY: NO PROPERTY SEIZURE One of the key benefits of a Chapter 13 bankruptcy over a Chapter 7 bankruptcy is that no assets are seized or liquidated in Chapter 13 bankruptcy proceedings. In a Chapter 7 bankruptcy, personal and real property...
by Walter Metzen | Aug 28, 2020 | Chapter 13 Bankruptcy, filing bankruptcy in Michigan
THE CHAPTER 13 BANKRUPTCY CRAMDOWN: PAY WHAT IT’S WORTH In a Chapter 13 bankruptcy, unlike a Chapter 7 bankruptcy, you repay to your creditors some of what you owe over a 3-5-year period. Depending on what sorts of creditors you have, certain creditors will be...
by Walter Metzen | Aug 12, 2020 | Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, filing bankruptcy in Michigan, restore Michigan driver's license with Bankruptcy filing
BANKRUPTCY AND MICHIGAN DRIVERS LICENSE RESTORATION One of the great advantages of filing a Chapter 7 or Chapter 13 bankruptcy in Michigan is that it will often allow you to restore your suspended driver’s license. It is important to remember, however, that a...
by Walter Metzen | Aug 7, 2020 | Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Detroit Bankruptcy attorney, disclosing assets in bankruptcy, filing bankruptcy in Michigan
It is not uncommon for a debtor in bankruptcy to hold title to a car or other vehicle in the possession of and used by someone else. Often, a car has been purchased by the debtor for a friend or family member because they cannot obtain the necessary financing credit,...
by Walter Metzen | Aug 3, 2020 | disclosing assets in bankruptcy, filing bankruptcy in Michigan, Protecting your IRA in Bankruptcy
MICHIGAN BANKRUPTCY: PROTECTING AN IRA IN CHAPTER 7 AND CHAPTER 13 In Chapter 7 and Chapter 13 bankruptcy, the primary dynamic for the individual filing bankruptcy is the exemption, or protection, of personal assets. If you have too much stuff, or the wrong...
by Walter Metzen | Jul 9, 2020 | Automatic Stay, Bankruptcy, bankruptcy and eviction, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, filing bankruptcy in Michigan
The filing of a Chapter 7 or Chapter 13 bankruptcy brings with it many benefits. The most immediate of these is the activation of a Federal injunction called the “automatic stay against collections.” The automatic stay requires that all creditors cease and desist any...
