It is an emotionally draining and stressful experience to be over your head in debt. Unfortunately, many in this position in Michigan start to receive numerous solicitations from companies promising debt relief. Far too many of them seem to only be interested in maximizing their own profit rather than really working out a solution that works for you and gets you out from under your debt.
These companies are not required to put the consumers' needs first. Far too many of them present pious lectures of "personal responsibility" and seem to want to encourage you to make extraordinary sacrifices to eventually pay off all of your outstanding debt. An attorney, in contrast, has their primary professional obligation to really stand in your corner, advise you of all your real legal options and work with you to pursue the one that will work best for you.
That can, sometimes, involve contacting creditors on your behalf to try to negotiate down your debt. Other times, it will involve preparing and filing a petition for either Chapter 7 or Chapter 13 bankruptcy, which immediately stops collection efforts and wage garnishments. It also has the potential of stopping foreclosures and repossessions.
A certain amount of property is exempt from seizure in bankruptcy, and often there are ways of keeping a house, a car or other property that you need. Talking to an attorney should be considered when you are in real financial trouble so that you can make an informed decision as to what options to pursue.
Source: Huffington Post, "Why Debt Relief Help Is Broken in America" Steve Rhode, Nov. 13, 2013