Bankruptcy Chapter 7 in Michigan
If you are drowning in unsecured debt like credit cards, unpaid taxes, and medical bills, filing for Chapter 7 in Michigan can give you a quick financial do-over by wiping out your debt. In fact, many of our clients get out of debt in a few short weeks!
Call or text DebtStoppers today at 313-880-3970 and let one of our experienced Michigan bankruptcy attorneys help you get started down the road to financial freedom today!
Bankruptcy Chapter 7 Explained in Michigan
Chapter 7 allows you to eliminate your unsecured debts by discharging them. While the law permits a court-appointed trustee to liquidate your assets to repay your debts, in our experience, DebtStoppers clients rarely lose a single possession.
In Michigan, court rules limit who can file for bankruptcy. Before you can be eligible to have your debts discharged, you must attend mandatory sessions with an approved credit counselor. You will also be required to participate in a debt education or financial management course. Your DebtStoppers attorney can make all of the necessary arrangements.
Income Limits — Understanding the Means Test
Bankruptcy laws also set income limits for who can file. The "means test" determines whether your family has the financial ability to pay back your debts without bankruptcy. It reviews your household and disposable incomes, and if either of them is too high, you can't file Chapter 7.
How To File for Chapter 7?
To initiate the filing process, your lawyer will submit a petition to the district court nearest you. The court will then grant an automatic stay that orders your creditors to cease all collection activities, including all those irritating phone calls.
Once the forms are filed, your case trustee will set up a 341 meeting and invite your creditors to challenge your debt being discharged. Even though creditors rarely show up to these meetings, your DebtStoppers attorney will prepare you and attend the meeting with you.
After the 341 meeting, your case trustee will review your household assets. Even though the trustee can sell them to repay your debts, most of our clients get to keep their belongings.
What Are the Costs?
While the cost of our legal fees varies from case to case, we offer some of the most reasonable rates in Michigan. On top of our legal fees, the court will charge you a $335 filing fee. Until this fee is paid, you won't receive the protection from creditor harassment offered by the automatic stay.
DebtStoppers knows that $335 can feel like $1 million to a struggling family. That's why we are one of the only law firms in the U.S. that will advance the filing fee's cost to the court. This lets you access the relief you need as soon as possible.
Discharging Chapter 7 in Michigan
Chapter 7 allows you to discharge your debts and start over fresh. Call or text DebtStoppers today at 313-880-3970 to schedule a no-obligation complimentary debt analysis with one of our skilled Michigan lawyers. We can help you choose the best way for your family to move forward.
DebtStoppers is one of the only Michigan firms that offer an authentic $0-up front Chapter 7. We will even advance your filing fee, so you don't have to wait another second to get out of debt. Call or text us today at 786-420-4545 to get started!