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How much does it cost to file for Bankruptcy in Michigan?

A common question I hear from clients looking into filing bankruptcy in Michigan is: “How Much Does It Cost to File Bankruptcy”  You can sign up and start the process and open a file for as little as $100 down. I will open a file for you immediately, which allows you to refer all creditors to us the very same day. I will explain your fees and costs in writing and let know exactly when your paperwork will be filed with the Bankruptcy Court. My fees are regulated by the U.S. Court System. They are reasonable, they are honest, and they are fair. The filing fee for a Michigan Chapter 7 bankruptcy is $299 and the filing fee for a Chapter 13 is $274. The cost of pre-filing credit…

What happens to me after I file a Chapter 13 Bankruptcy in Michigan?

When you start a Chapter 13, bill collectors are referred by you to our law office. We then handle all telephone calls and letters for you from your creditors. Most importantly, you will have peace of mind. It also stops foreclosures. It stops wage garnishments. It stops the repo of autos, trucks, RVs, and motorcycles. It stops nasty calls. It stops late charges and interest and penalties on credit card accounts, taxes, and other loans. It stops harassment for back child support. You can lump almost every bill you have into one low monthly payment, and the majority of the time, creditors are powerless to do anything about it. They must accept your payback plan, whether they like it or not.

What’s the difference between Chapter 7 and Chapter 13?

Chapter 7 is know as straight bankruptcy and Chapter 13 is known as bill reorganization or bill consolidation. Chapter 13 is an option if you fall behind and you feel like you are slowly sinking deeper into debt. Chapter 13 is an excellent opportunity for you to reorganize all of your bills into one low monthly payment. Now I’m not talking about a loan. I’m telling you a law which requires your creditors to take less money monthly over a longer period of time. It is a powerful law because it carries the weight of the U.S. Federal Government behind it. It is powerful. And because it is the Federal Government, large corporations, banks, finance companies, credit card companies, skip tracers, repo men, and collectors…

What happens to my credit score if I file for Bankruptcy in Michigan?

Well, if your are considering filing for bankruptcy, chance are that your credit report probably doesn’t look too good to begin with. Filing for bankruptcy will stop the aging process of your defaulted accounts. In other words, those things that are 2 months or 3 months or 4 months behind will never get any older than that. And that is going to look good for you. If they are real old, well you might as well get rid of them and start fresh with a straight bankruptcy if you can. But we’re going to explain that to you. The thing that I want you to remember is that filing bankruptcy stops the aging process, and that is important, because when the aging process stops, the…

Will I ever get a credit card again if I file for Chapter 7 Bankruptcy in Michigan?

People think, “Gee, I’m not going to get a credit card.” Not true again. We will give you a list of banks where you can go open up a savings account and they will hold that savings account as collateral and they will give you a Visa or a MasterCard. That is called a secured Visa or MasterCard, and that is where you start. You make your car payment. You make your Visa payment. Now you can cash checks. After one year of established credit conventional lenders – that’s banks and savings and loans – will consider you for a house loan. After four years FHA – that’s the Federal Government – will consider you for a low interest house loan, and that is basically…

Will I ever be able to by a home again if I file for bankruptcy in Michigan?

A lot of people come in to the office and say, “Gee, my mom and dad told me that if I did a straight bankruptcy, I’d never be able to buy a home again.” Well that isn’t true. There are thousands and thousands of FHA and VA assumable loans. You will have to save up a little bit of cash, but you can buy property again almost immediately.

What are some common mistakes to avoid before I file for bankruptcy in Michigan?

Here is a list of common bankruptcy mistakes to avoid before you file for bankruptcy in Michigan: 1. Do not attempt to hide information or assets from your attorney. You have to open and honest with me so that I can give good legal advice and counsel. Your failure to properly disclose required information could result in a denial of your discharge, fines and other criminal penalties including jail time. 2. Do not use your credit cards after you have decided to file for bankruptcy. It is illegal for you to incur debt that you do not intend to repay. Your creditor may object to those charges being discharged – in which case – you will be responsible for repaying those charges. 3. Do not…

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