Michigan Bankruptcy Resources

Not sure where to start? Use this form to contact an experienced Bankruptcy Lawyer. They will provide a free consultation and assist you with choosing the right path for Bankruptcy.

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Attorney Francis N. Soave & Associate

Experience, Integrity, Results

301 Orchard St., Ste. 2 - St. Clair, MI 48079

810-326-7000

Bonner Di Salvo PLLC.

Free Consultations

615 Griswold Suite 1700 - Detroit, MI 48226

(313) 596-9500

Gudeman & Associates, P.C.

DON'T RELY ON MYTHS AND GOSSIP! LEARN THE TRUTH ABOUT BANKRUPTCY FROM A REPUTABLE LAW FIRM

26862 Woodward Avenue Suite 103 - Royal Oak, MI 48067

877-361-3911

Articles Written

Law Office of Linda L. Kowalczyk

Family, Bankruptcy, and Criminal Attorney.

30150 Telegraph Road Suite 249 - Bingham Farms, MI 48025

(248) 224-1776

Articles Written

Law Offices of Robert Higgins

112 Goliad Street - Benbrook, TX 76126

386-677-9450

Michigan Bankruptcy Law Centers

Contact our office for a complimentary bankruptcy analysis.

758 W. Grand River Ave. - Brighton, MI 48116

810-355-4329

Robert Keyes Law

Experienced Bankruptcy Representation in Ypsilanti, MI

300 N Huran Street - Ypsilanti, MI 48197

734-662-1590

Attorney John A. Steinberger & Associates, P.C.

Helping Thousands of People Get a Fresh Start

17515 West Nine Mile Suite 420 - Southfield, MI 48075

866.690.2142

Articles Written

Johnson & McLoyd, PLC

1785 W Stadium Boulevard, Suite 201C - Ann Arbor, MI 48103-5291

(734) 669-9080

Articles Written

Southfield Michigan Bankruptcy Lawyers Ardelean & Dunne, PLLC

24123 Greenfield Rd. Suite 209 - Southfield, MI 48075

(248) 557-7488

The Situation in the Wolverine State

Michigan’s real GDP is expected to drop by 4% to 5% this year and 50,000 to 60,000 more auto-related jobs will disappear. The recovery expected to begin late in 2010 will not help the multitudes of unemployed or underemployed struggling to survive in Michigan right now. Bankruptcies filed in 2008 hit record levels with over 55,000 in Michigan alone, and nearly 97% of those filed by consumers. It is estimated that 1.4 million consumer bankruptcies will be filed in the U.S. in 2009, the surge triggered by the foreclosure crisis and economic downturn.

Michigan Bankruptcy Legal Advice

The Federal Bankruptcy Law involves processes, procedures and evaluations which can be complex and confusing, including major revisions made in 2005. Seek the advice of a Michigan law firm with specific long-term experience in Michigan bankruptcy matters. Check references, if possible. A competent Michigan attorney will help you weigh your different options, make informed decisions, help you protect the security of your family and reduce your stress, while facing the realities of the situation.

Chapter 7 - The Most Common Consumer Bankruptcy Choice in Michigan

Chapter 7 is the “fresh start” chapter of the Bankruptcy Code and most commonly used. Included in this process is a “means test”, used to determine your ability to pay your creditors, verifying whether Chapter 7 is appropriate or indicating that you should be filing Chapter 13. Median Family Income by Family Size and current poverty guidelines are factors evaluated when determining appropriate filing status for a given situation.

Filing a Michigan Business Bankruptcy

U. S. business bankruptcies were up 40% in May of this year, further verifying the depth and breadth of the sluggish economy. Chapter 7 and Chapter 11 are the two most common types of Michigan business bankruptcy choices. With some exceptions, Chapter 7 is a liquidation procedure where the business is closed and all unsecured debt is discharged. Chapter 11 provides for working out an arrangement to pay creditors all or part of what is owed while keeping the company in business.

Obtaining Credit Following Your Michigan Bankruptcy

Begin working on your credit repair right away. Try applying for credit and once accounts are open use them sparingly and pay them off on time. Get a secured loan on a house, car or student loan and at least one credit card or home equity line. Contact credit bureaus to correct mistakes on your credit report. Debts commonly show as active when they should show as discharged in bankruptcy which continues to negatively impact your credit rating.

Thoughts on Bankruptcy Filing in Michigan

As the State’s economy struggles to recover, decisions you make and actions you take now can have a positive or negative effect on the outcome of your bankruptcy proceedings. Although some filers elect to handle their bankruptcy on their own, The U.S. Bankruptcy Court cautions that “Bankruptcy has long-term financial and legal consequences -- hiring a competent attorney is strongly recommended.”Click here to find Michigan attorney resources in your area.

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