The Simplest Form of Bankruptcy Relief
If you have serious debt problems, the easiest and fastest way to erase those debts is to file Chapter 7 bankruptcy. Chapter 7 bankruptcy is a financial do-over than enables you to discharge most types of consumer debt and obtain a fresh financial start.
At the law firm of Michael M. Malinowski PLC in Grand Rapids, Michigan, I offer a free initial consultation to answer your questions about Chapter 7 bankruptcy. As a lawyer with 25 years of bankruptcy law experience, I can work with you to help you solve your debt problems over a short amount of time. By filing Chapter 7 bankruptcy, many clients are out of debt within four to five months.
How Does Chapter 7 Bankruptcy Work?
When filing Chapter 7 bankruptcy, you seek to have each of your debts forgiven by the court. Types of debts that can be forgiven include credit card debt, hospital bills, payday loans and lawsuit judgments.
In certain cases, debts are for items purchased on credit, for which the seller has retained a security interest. The court may require those items to be surrendered to the seller in exchange for the debt being forgiven.
Can I Keep My House and Car?
You can keep your house and car if you can continue to make payments on them. In Michigan, a single homeowner can keep up to $20,200 in home equity and a married couple can keep up to $40,400 in equity.
You can also keep retirement benefits —such as 401(k) accounts — and up to $10,775 cash value in life insurance policies.
Can I File Chapter 7 Bankruptcy if I am a Wage Earner?
You can file Chapter 7 bankruptcy as long as you do not earn more than the median income in Michigan (about $44,000 for one person). If you earn too much money to file Chapter 7 bankruptcy, you can file Chapter 13 bankruptcy.
Will My Employer Find Out if I File Bankruptcy?
In most cases, your employer will never find out that you filed bankruptcy, unless your creditor has filed a garnishment of your wages. Filing bankruptcy will stop a wage garnishment in its tracks. As your lawyer, I can often get recent wage garnishments back.
Free Bankruptcy Attorney Consultation
You don't have to live with the stress of burdensome debt. For a free consultation about Chapter 7 bankruptcy, call me, lawyer Mike Malinowski, at 888-339-6017 or fill out our contact form on this Web site. My law office is in Grand Rapids, Michigan.
