We have locations available by appointment in the following areas. Please call us to speak to an attorney and set up an initial meeting.
The bankruptcy system is designed to provide relief to individuals and businesses who are overwhelmed by debt. If you are struggling to make your minimum payments with no relief in sight, it may be time to discuss your options with our team of skilled bankruptcy attorneys.
The thought of filing for bankruptcy can be daunting for some people, but the process does not have to be difficult. Most people are able to navigate the system and get the fresh financial start they deserve, especially when they work with a Flint bankruptcy lawyer.
Bankruptcy offers individuals a legal path to resolve unmanageable debt. The two most common types for consumers are Chapter 7 and Chapter 13.
Also known as liquidation bankruptcy, Chapter 7 is designed for individuals with limited income and few assets. It allows you to discharge most unsecured debts, including credit card balances, medical bills, and personal loans. In exchange, a court-appointed trustee may liquidate non-exempt property to repay creditors, although many filers keep all or most of their assets thanks to Ohio’s exemption laws. The entire process typically takes four to six months. Chapter 7 is ideal for those who cannot realistically afford a repayment plan and need a fast, clean break from debt.
Chapter 13 is known as a wage earner’s plan. It allows individuals with regular income to restructure their debts into a manageable repayment plan lasting three to five years. Instead of liquidating assets, you make monthly payments based on your income, expenses, and the type of debt you owe. This option is especially useful if you’re behind on mortgage or car payments and want to keep those assets. Chapter 13 also offers more flexibility and protection for co-signers, which can be invaluable for those who do not qualify under Chapter 7.
Whether you file under Chapter 7 or Chapter 13, you immediately gain the protection of the automatic bankruptcy stay. As the name suggests, the stay goes into effect the moment you file your petition. It shields you from any further collection attempts by your creditors, which can have an immediate positive effect on your finances and stress levels.
This stay applies to all possible collection activities. Your creditors are barred from contacting you in any way regarding your debt, and they cannot send letters or other correspondence asking you to pay.
These prohibitions also extend to any legal cases you might be involved in. Not only can your creditors not file any new lawsuits against you, but any ongoing litigation must be put on hold. This means efforts to foreclose your home or repossess your vehicle must stop immediately.
Creditors are also prohibited from attempting to collect on any existing debts during an ongoing bankruptcy. This means any wage garnishments must be released immediately, giving you the full amount you are owed from your paycheck each week.
There are some obligations that cannot be stopped during a stay, including tax debts and child support. What’s more, creditors with debts secured by your home or car could file a motion to release the stay and allow them to foreclose. A bankruptcy attorney in Flint can advise you on these exceptions.
Filing for bankruptcy can be daunting, but you never have to do it on your own. You are entitled to work with a Flint bankruptcy lawyer every step of the way, and our team looks forward to being able to help. Call today for a confidential consultation. Click here to view our debt calculator for quicker insight.
We have locations available by appointment in the following areas. Please call us to speak to an attorney and set up an initial meeting.
We are a debt relief agency helping people file bankruptcy under the United States Bankruptcy Code.
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