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 | Aug 28, 2020 | Uncategorized
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 | 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 | Dec 10, 2019 | Uncategorized
By Walter Metzen 100% CHAPTER 13 PLANS: NOT JUST DEBT CONSOLIDATION One of the most widespread misconceptions about Chapter 13 bankruptcy is that it is simply another form of debt consolidation. This is incorrect. Legitimate “debt consolidation” involves a...
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...
by Walter Metzen | Sep 19, 2018 | Detroit Bankruptcy Blog, Uncategorized
Co-authored by Chad Mizelle.There is a disturbing trend we have noticed happening in metro Detroit and probably nationwide in the past few years. We get a call from an upset person who says that a collection agency representing a payday loan company just called them...
