The Benefits of Hiring a Bankruptcy Attorney

By on May 21, 2013

Michigan bankruptcy attorney

Did you know that in 2011, Michigan had a filing rate of almost 6 per 1000 residents for bankruptcy? That is a high number, and if you find yourself in financial trouble, you can at least comfort yourself with the knowledge that you are hardly alone in this struggle. And that is actually not an unimportant factor. When many people are experiencing the same struggles you are, it means the path is better paved toward resolution.

One thing to consider for debt resolution is a Flint bankruptcy attorney. Though the idea of hiring a lawyer can be daunting when you already face so many money issues, it can actually be a good move in resolving your crisis. Unfortunately, the court system and regulations governing bankruptcy in Michigan are complicated, and if you do not fully understand your options and the risks and benefits of each move, you risk falling further into debt through mismanagement of finances.

For example, do you know the difference between Chapter 13 bankruptcy michigan, and Chapter 7 bankruptcy Michigan? A Chapter 13 bankruptcy usually means an agreement to pay back debts over a range of time, while a Chapter 7 bankruptcy basically means that you are eliminating all of your unsecured debt. Chapter 13 can sometimes save cars, houses, et cetera from foreclosure. The right path for you, though, should be decided after a knowledgeable talk with a Flint bankruptcy attorney, since the details are different for every case.

A Flint bankruptcy attorney can also advise you if you are having IRS issues. Wage garnishment Michigan, for example, will often end after bankruptcy filing.

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