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.
So you're getting married - congratulations! What an exciting time this is in your and your fiancée's lives.
When a medical emergency occurs people generally go to a medical professional for help. In these situations, the last thing on many Michigan residents' minds is the cost of the care. They often just want the doctors, nurses and other medical professionals to do whatever they can to fix the issue and get them on the road to recovery.
All too frequently clients have said the following words, "Filing bankruptcy is the last thing I thought I would ever do", when the filing of a bankruptcy should have been thought of sooner. No one plans to file bankruptcy when they take out debts. The overwhelming majority of Americans voluntarily pay their debts. Credit card companies and other lenders count on this fact. Clients sometimes engage in strategies that may backfire in order to avoid filing bankruptcy.
Many Michigan residents are aware of the allure of credit cards. Credit cards offer the ability to pay for goods and services that a person may not otherwise be able to afford at the time. Sometimes, however, this allure can prove to be destructive - a fact millions of Americans can attest to. Countless people have experienced the nightmare of being trapped with credit card debt. To escape this trap, drastic measures often must be taken. Bankruptcy is one such measure.
As many Michigan residents are aware, in today's world, it can be difficult to avoid debt. With credit cards that offer ease of use and medical bills that can be impossibly expensive, debt is a reality that many Michigan residents have to face. Once mired in debt, it might seem like escape is all but impossible. However, for those stuck in a seemingly endless cycle of debt, there are options.
Now that the holidays are over, some residents in Michigan might be concerned about charges on credit cards and recovering from any accumulating debt. Whether it is credit card debt or any other form or debt or liability, individuals should understand methods to address their financial problems. While some repayment plans help individuals pay back credits more quickly, it is important to understand what method is best for their situation and achieving a fresh start.
A major national newspaper recently ran a story about consumer bankruptcy filings. The twist was that individuals didn't end up getting the debt relief they expected after filing for bankruptcy. We want to take a closer look at this story so that our Wayne County readers understand the details and why this has happened to some people.
There is all too often a stigma associated with financial challenges. Wayne County residents are likely familiar with the social pressure to keep up appearances, to hide their struggles away from friends, family and coworkers. But study after study show that more Americans are in need of a fresh start today, and maybe not for the reason people typically think.
For some residents in Michigan, dealing with financial challenges is a difficult reality to face. While in some situations these financial problems may only be temporary. Our firm understands the importance of addressing these situations carefully and effectively. Individuals should educate themselves about their situations so they could take proper measures to alleviate these problems. Exploring debt relief options may allow them to take the necessary steps in order to move forward and obtain a healthy financial life.