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Wayne County Bankruptcy Law Blog

Tired of creditors calling? Bankruptcy will stop that

Let's acknowledge a truth: being in debt is incredibly stressful. No one likes the feeling of not knowing how they're going to pay their bills.

All the calls from creditors only make matters worse. It can seem like their calls are coming all hours of the day and night. What are you even supposed to tell them? If you could afford to pay them you would have, right?

Did you know that filing bankruptcy will put a stop to calls and collection actions? In many cases, declaring bankruptcy is your best option to stop the stress and get a fresh start.

Proceed carefully when using debt negotiation programs

People who are in debt and seeking a fresh start often decide to negotiate a settlement with their creditors. There are many organizations that say they can help Wayne County consumers with the debt negotiation process. In this blog post, we will take a closer look at one kind of organization in this business.

We can help Wayne, Michigan residents shed a second home

Wayne, Michigan, owners of second homes, rental properties or vacation homes sometimes find that they are unable to keep up with the mortgage payments on these properties. Although these kinds of properties are supposed to provide their owners with a benefit, such as leisure or extra income, sometimes they become a burden. Many people in this position would like to unload the property, but they are unsure how to go about doing that.

Paper company with Michigan mill files for Chapter 11 bankruptcy

A paper company with a mill in Michigan has filed for Chapter 11 reorganization bankruptcy protection. The company reported that the filing will not impact its daily operations. The company noted that filing for Chapter 11 reorganization bankruptcy is intended to allow it to restructure its debt. According to a representative for the company, it intends to eliminate $2.4 billion in debt and that holders of the funded debt would receive $2.4 billion in equity.

How do you begin the Chapter 13 bankruptcy process?

Chapter 13 bankruptcy can be a great way for homeowners in Wayne County to stop foreclosure. Chapter 13 allows homeowners and other consumers to set up a repayment plan for their secured and unsecured debts. They can make manageable payments over a three- to five-year time frame, allowing them to catch up on past due debts.

Converting a Chapter 11 bankruptcy to Chapter 7

A business reorganization under Chapter 11 of the federal bankruptcy code can be a good way for businesses to keep creditors at bay while management reorganizes and modernizes the company. Lots of companies in Michigan have emerged from Chapter 11 bankruptcy and resumed their successful ways.

What debts may not be dischargeable in a Chapter 7 bankruptcy?

People in Wayne, Michigan, know that qualified debts will be discharged in a successful Chapter 7 bankruptcy. What is sometimes forgotten is that not necessarily all debts will be eliminated in Chapter 7. There are some debts that may remain after the process is complete.

Furniture retailer plans emergence from Chapter 11 bankruptcy

Although economists tell us that the recession is long past and business is booming, business owners in Wayne County may not necessarily agree. Many businesses - especially those that depend on the housing market - are still feeling the effects several years on. One furniture store chain has been struggling recently and has chosen a common route for a fresh start.

Understanding the benefits associated with bankruptcy

Many people believe bankruptcy to be the ultimate financial failure, and a situation that should be avoided at all costs. But, the fact is that depending on a person's situation filing for bankruptcy may be helpful, and may provide a person with a new start and a way to get out of a financial hole.

Chapter 13 can help to stop Michigan foreclosure

One of the most common concerns for people who are experiencing financial challenges in Michigan is fear of losing property and how filing for bankruptcy will affect their ability to keep certain forms of property. This can include a home and a motor vehicle. To avoid having to lose one's home and a vehicle, an effective bankruptcy option is filing for Chapter 13. Before moving forward, it is extremely important to find the type of bankruptcy that is best suited to the individual. If a home and vehicle are concerns, then Chapter 13 might be the proper choice.

  • rating

    Posted by MaryDecember 11, 2015

    "I am overwhelmed by your response to my call, even 10 years after my bankruptcy was discharged. You have more knowledge and expertise than I could have imagined. Because of you, my fears have been put to rest. For that, I'm so very grateful. Thank you many times over. "

  • rating

    Posted by ClientOctober 26, 2010

    "... I was extremely impressed with Charles' understanding of the bankruptcy laws to the extent that I felt certain that my best interests were always at the forefront. "

  • rating

    Posted by MarleneJanuary 8, 2014

    He helped me thru my 1st bankruptcy and now the second. I had no idea what to expect , but they kept me informed and answered all my questions. Mr. Schneider is the most experienced and knowledgeable lawyer I have ever met. If you have to file call this attorney first!

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  • Avvo Ratting 10.0 superb Top attorney chapter 7
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  • American board of certification | certified consumer bankruptcy specialist
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