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Michigan Bankruptcy- In Chapter 13 Can You Choose Between Paying a Set Fee or On An Hourly Basis?

Michigan Bankruptcy Fee or Hourly Basis Fee. Each 2016(b) statement provides for compensation to be either a stated flat fee; or payment of a stated retainer amount against which the attorney would bill at a specific hourly rate, with debtor agreeing to pay all Court approved fees exceeding the retainer.  During the consideration of a…

Bankruptcy in Michigan- What happens if you fail to include a creditor in your bankruptcy in Michigan filing?

Michigan Bankruptcy Failure to list Creditor. Any time you correct or add a creditor to your michigan bankruptcy matrix you want to send them a copy of the 341 notice. You will also need to amend your Schedules including the creditor and pay the appropriate fee and file the amended Schedules and Cover Sheet for…

Bankruptcy Michigan – What happens to the rent money when your rental property is foreclosed on in Michigan?

Michigan Bankruptcy and Rental Property Rent Money. After you file for bankruptcy in Michigan, the rents from your rental property become property of the estate. The trustee exercises full authority and control over those rent monies. The only way that the mortgage company can get control of the rents is to file a motion with…

Bankruptcy in Michigan- Can an “Undocumented” Immigrant File for Bankruptcy?

Michigan Bankruptcy Undocumented Immigrant. Yes. Eligibility for bankruptcy has nothing to do with immigration status even if that person used a fake social security number or false information to obtain credit. If there is no valid social security number – then the debtor files with their ITIN. The creditors can confirm their claims with the…

North Carolina Bankruptcy Judge Denies Debtors’ Motion to Convert from Chapter 7 to Chapter 13 Due to Bad Faith

Michigan Bankruptcy and Chapter 7 to 13 Conversion. The Chapter 7 Debtors failed to disclose in their petition their interests in various real estate partnerships and multiple foreclosure proceedings, which the Chapter 7 Trustee discovered through reviewing the Debtors’ tax return and public records.  The Debtors then sought to convert to Chapter 13 and the…

Bankruptcy in Michigan-Reaffirmation Agreement Based On Mutual Mistake Voided

Bankruptcy in Michigan -Reaffirmation Agreement. After filing a Ch. 7 bankruptcy, a reaffirmation agreement was signed for two separate bank loan debts that would have both been dischargeable.  The Debtors Jackie and Peggy Bailey abruptly stopped paying Salyersville National Bank, which tried unsuccessfully to repossess a truck pledged as security.  SNB filed a “wholly unsecured…

Michigan Bankruptcy – 6th Circuit Says Avoidance Powers Allowed By Ch. 13 Debtor

Bankruptcy in Michigan-Avoidance Powers and Chapter 13. The issue of whether a Ch. 13 debtor has standing to exercise avoidance powers (normally) exclusive to the Standing Trustee was reviewed by a 6th Circuit Panel.  The Bankruptcy Court for the Eastern District of KY held that Debtor Gary Barbee has standing to initiate an avoidance action,…

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