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 | 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 | Sep 17, 2020 | Chapter 13 Bankruptcy, Filing Bankruptcy in Michigan, Foreclosure, Uncategorized
CHAPTER 13 BANKRUPTCY: NOT THE LEAST OF EVILS Chapter 13 bankruptcy has a bad reputation. It’s the form of consumer bankruptcy you have to file if you fail the so-called Means Test. It’s the form of bankruptcy in which you have to repay some of what is owed to...
by Walter Metzen | Apr 17, 2020 | Uncategorized
By Walter Metzen NEW VEHICLE PURCHASES AND BANKRUPTCY: TIMING IS EVERYTHING It is not unusual to require a new vehicle at around the same time you are considering filing for bankruptcy. Or to be driving a vehicle with a terrible interest-rate attached at...
by Walter Metzen | Nov 8, 2019 | Detroit Bankruptcy Blog, Detroit Bankruptcy Lawyer, Michigan Bankruptcy Attorney, Uncategorized
A Chapter 13 bankruptcy proceeding differs from a Chapter 7 bankruptcy in that, instead of discharging your (dischargeble) debt entirely, the process requires that you pay something back to your creditors, depending upon your monthly average income after necessary...
