For Debtors, Bankruptcy is a Financial Do-Over
There are few times in life when we can have a do-over: a chance to wipe the slate clean and get a fresh start. Bankruptcy is one of those times.
At the law firm of Michael M. Malinowski PLC in Grand Rapids, Michigan, I offer a free initial consultation to answer your questions about bankruptcy and how you can obtain a fresh financial start. I am a lawyer with 25 years of experience representing debtors in western Michigan.
What Will Filing Bankruptcy Do For Me?
There are many upsides to filing bankruptcy:
- Most types of consumer debt are forgiven, giving you a debt-free start to the rest of your life
- You can keep most personal assets, including your 401(k) account and up to $20,200 in equity in your home ($40,400 if you are married)
- You will be able to answer the phone without worrying who it is
- You will be able to sleep better
- When your financial situation improves, the money will belong to you — not to your creditors
Will Filing Bankruptcy Harm My Credit?
Bankruptcy does stay on your credit report for 10 years. However, in my experience, two years after your discharge you will be able to qualify for credit just like anyone else — as long as you have paid your bills during those two years.
In the past, most people have been able to qualify for home mortgages three years after filing bankruptcy. However, that may change if banks tighten lending requirements in the future.
Free Bankruptcy Attorney Consultation
You don't have to live with the stress that debt can cause. For a free consultation about how to get a fresh start by filing 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.
