Sometimes referred to as a "total debt bankruptcy,” Chapter 7 has generally been the bankruptcy used by people who have few assets, but who carry a large amount of unsecured debt. Your fresh start Chapter 7 bankruptcy gives people a fresh start. It is a bankruptcy used to completely wipe out most debts in a legal proceeding conducted under the jurisdiction of the Federal U.S. Bankruptcy Court. Chapter 7 bankruptcy discharges debts such as credit card debt, medical bills, personal loans, delinquent utility bills, old tax debt, and deficiencies on repossessed vehicles. Under Chapter 7 bankruptcy, you will never have to pay your creditors for these types of debts. However, there are several types of debts that cannot be discharged by filing for Chapter 7. Child support, recent tax debt, student loans, and certain types of court-ordered damage awards are not dischargeable with bankruptcy, call us at 313-274-2999
for more information.
Your credit will not be ruined. Many people think that by filing a Chapter 7 bankruptcy, their credit will be ruined for years. This notion is simply not true. Our economy is a credit-based economy, and most of our clients are able to begin rebuilding their credit immediately after their Chapter 7 is discharged.
Many of our clients are able to buy a home within 12-18 months after receiving a Chapter 7 discharge. A Chapter 7 bankruptcy in Michigan takes a relatively short period of time. Most clients receive a discharge within 4-6 months of the date of filing
Stop creditor harassment. If you are tired of receiving harassing phone calls from your creditors, you may feel relieved to know that as soon as your Chapter 7 has been filed, your creditors are prohibited by law from calling you. You may refer any calls you still receive to our office, and we will talk to your creditors for you. We understand how difficult and stressful life can be when you feel as if you are drowning in debt. If you don´t think you can bring your debts under control and need the help of a team of caring professionals, please call us at 313-274-2999
for a consultation.