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Wayne County Bankruptcy Law Blog

Is it best to declare bankruptcy before getting married?

If you are about to marry, but you are having serious financial problems, you may be wondering what should come first, a trip to the altar or a bankruptcy filing?

You want to do what will best benefit your fiancé, and you do not want to involve him or her in your financial mess, particularly if your future spouse has a steady job and stellar credit. You can reach out for legal assistance to help in determining what path to take, but meanwhile, here are a few points to consider.

Can joint filing be avoided in a Chapter 7 bankruptcy?

If you are married and have determined that you must file bankruptcy, your chief concern will probably be your spouse. For example, you may be interested in Chapter 7 and you would like to file as an individual, but you are afraid your spouse might become the target of creditors.

Filing joint bankruptcy would provide certain protections for both of you, but it may not be necessary for your spouse to file.

Debtor education you need before and after bankruptcy

If you decide to file for bankruptcy protection, the procedure will involve more than you may realize. In order to receive a discharge in either Chapter 7 or Chapter 13 bankruptcy, you must complete counseling and education requirements approved by the U.S. Trustee Program of the Department of Justice. This may seem a bit overwhelming, but the process is not as difficult or time-consuming as it sounds, and the information provided is designed to help you begin a fresh, new financial life.

An introduction to foreclosures in Michigan

For the majority of people, their home is one of their most valued possessions and they often work very hard to make sure that they are able to keep it. There are many different options for people who are having trouble affording their homes, but one of the most common options is a mortgage.

A mortgage is essentially just a loan specifically used to pay for their home, but if they are unable to make their mortgage payments, their home may be foreclosed.

Is it true bankruptcy stops foreclosure?

Being behind on your mortgage is a frightening prospect. If you haven't already been served notice of foreclosure, it could be coming soon.

If you want to keep your home, what can you do? Can bankruptcy stop a foreclosure proceeding?

Getting married? Address your debt first

So you're getting married - congratulations! What an exciting time this is in your and your fiancée's lives.

One of the best parts of being married is getting to share in each other's lives completely. But, if one of you has significant debt, this isn't something you want to share. It's in both of your best interests to resolve the debt before you get married.

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.

  • 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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