Archives for January 2014

Sterling Height Bankruptcy Attorney ,Warren Bankruptcy Attorney- Michigan | In Depth Analysis of Bankruptcy

An In depth Analysis of Bankruptcy 

Simply put, bankruptcy is federal debt relief. It is a process without which individuals, businesses, or any other enterprise risks being stripped of their hard-earned assets.  This law affords them federal protection from this embarrassing situation and helps them reduce their debts. In Michigan, going bankrupt is a common occurrence. It is something that has been there for decades and the number of bankruptcy lawyers setting up there can attest to this. However, despite the massive number of bankruptcy attorneys, many of them still offer expensive services to clients and have little experience. In order to make the process smooth and hassle-free, experienced and affordable bankruptcy lawyers such as those of A Better Way Bankruptcy in Michigan should be hired. It has its offices in Southfield and Sterling Heights and serves residents from diverse areas within Michigan.

The bankruptcy process is emotionally and financially draining. Very few attorneys can competently handle this process since it requires an in-depth knowledge of the law. Furthermore, they need to constantly update themselves on the small changes to the law. Experience, therefore, should be one of the requirements used when looking for a bankruptcy attorney. One should also consider the client reviews on their website. Without thinking about these things beforehand you may hire a lawyer who will run dry your finances and leave you in a worse state.

Bankruptcy is broadly grouped into two types; liquidation and re-organization debt relief. Liquidation debt relief is Chapter 7 and re-organization debt relief is Chapter 13 of the bankruptcy code. Both are filed by individuals (not a business or corporation) and it gives protection against losing your personal assets such as clothes and household items such as furnishings. Property can only be sold to pay off the debts but the bankruptcy allows for assets to be exempted and protected. Our bankruptcy attorney has a lot of knowledge of how to let you keep all your assets. By hiring A Better Way Bankruptcy during this process you can rest assured that all will go well from the beginning to the end.

Whether you qualify for a Chapter 7 or a Chapter 13 is determined by a means test. Our attorney can perform this means test at the free consultation to tell you which chapter you should file.

Chapter 7 bankruptcy discharges all unsecured creditors with the exception of student loans, child support, and certain tax debts. From filing to discharge, Chapter 7 takes an average of 5 months. Chapter 13 bankruptcy is a reorganization which takes into account your income, expenses, and all the creditors you owe. A Chapter 13 is filed if you own a home that is going into foreclosure and you want to keep it or if you have a car that will be repossessed by the finance company. The Chapter 13 Plan allows you to be able to repay those and other creditors and let you keep your house and car. A Chapter 13 bankruptcy plan lasts 3 or 5 years.

Bankruptcy can be a challenging process. Let A Better Way Bankruptcy help you through this process.

Erase Your Worries, Erase Your Stress, Erase Your Debts

ERASE BILLS

 

For Free Consultation Call : 1-844-ERASE-BILLS

What Should I Pay For a Bankruptcy?

Bankruptcy fees run the gamut from super low to relatively expensive. Many are competitive but can you find lower?  Probably.  Now comes the hard part…

What are you getting for your money?

One of life’s lessons is you get what you pay for.  Tell me, if you had cancer or a brain tumor, would you want the cheapest doctor or the one with the most experience in what you need?

I am betting you said “experience”.

Law is no different.  All attorneys are not equally competent in their fields.  Same as there are good and bad doctors, there are good and bad attorneys.  Now, just because an attorney charges a lower fee does not mean he or she is incompetent, this is a highly competitive market which works to your favor as the consumer.  However, there are many, many attorneys who have never practiced bankruptcy but see consumers like you and see $$$, so they throw their hats in the bankruptcy ring.  Are they competent in the bankruptcy field? Not so much.

What are you getting, or losing, by shopping price only? How much money are you really saving if this attorney screws up your case?

When you are shopping for an attorney you need to consider more than just price. Also consider these things:
1.  How long have they been practicing bankruptcy law?

Not law in general – bankruptcy.  It is its own field and has its own rules and regulations, time limits and requirements.  I would want someone who has been doing bankruptcy in your city (make sure they are local attorneys and not imported from other states) for at least 10 years.

2. Do you feel the attorney is competent?

Do they answer all your questions thoughtfully, knowledgeably and thoroughly? Do you feel they can handle any problems that might arise in your case?  Did they take their time with you or did they get your  money and shoo you out the door? Your consultation should take an hour (at least).  Make sure you get it! If you don’t feel like this attorney will do whatever it takes for you, keep looking.

3. Is this attorney personally handling your case or passing you off to a paralegal or another attorney? 

There is nothing wrong  with other people helping prepare your case but, ideally, the same attorney should be with you start to finish.

4. Last, but not least, make sure they give your their fees IN WRITING at the time of your consultation.  Under federal law a retainer agreement is required to be completed on every client an attorney meets with.

So, the moral of my story is, don’t just shop price.  Look for an attorney who makes you feel comfortable, secure and taken care of.  One who instill confidence in you.  This is your financial future, don’t just trust it to anyone.  Remember, you get what you pay for.

 ERASE BILLS

 

Call For a FREE CONSULTATION: 1-844-ERASE-BILLS   Call NOW !!!!!!

 

 

Detroit Bankruptcy Lawyer- Michigan | Review Of Chapter 7 Bankruptcy

Chapter 7 Bankruptcy Review -Detroit Bankruptcy Lawyers

Chapter 7 bankruptcy is the most popular type of bankruptcy. It is also referred to as liquidation bankruptcy. This type of relief clears out your debts with only a few exceptions: child support, student loans, and taxes within the last 3 years. It can be filed by either one person or by a married couple. From filing to discharge, it takes approximately 4 months to wipe out the debt.

When compared to Chapter 13, Chapter 7 bankruptcy is the most common bankruptcy filed by most married couples and individuals. The cases received under this type of relief are classified as either consumer debt or business debt. Between these two, consumer debt is the most common and includes debts such as credit cards, mortgages, personal loans, medical bills, taxes, and vehicle purchases. Business debts on the other hand refer to debts that occur out of business operations or business ownership.

If the client debt falls on consumer debt, then it is a requirement that he or she must go through a credit counseling class before filing the petition and a debtor education class before they can receive a discharge. Various federal agencies have been given the role of carrying out the counseling and have been approved by the US Trustee.

The various aspects that are covered by Chapter 7 bankruptcy may seem complicated but detroit bankruptcy lawyers will help you to understand each of the steps and requirements.

Before the case is filed, the attorney prepares the bankruptcy documents. The client is required to disclose all their assets and creditors. When the case is filed the bankruptcy court will send out notice of filing to all the creditors listed in the bankruptcy.

Under Chapter 7 bankruptcy, clients will not lose their possessions. The bankruptcy code protects some of their possessions such as household goods and furnishings, jewelry, books, and clothes. The client should disclose all of their possessions even if they think they have no value. They should understand that everything they own is an asset and therefore must be listed in the bankruptcy. These things will be exempted and protected in the bankruptcy.

Once the bankruptcy is filed, the court schedules a 341 Meeting of Creditors. This takes place about 30 days after the date of filing. It is very painless and takes about 5 minutes. The client, the attorney, and the trustee sit at a table and the client verifies their social security number, that they signed the documents, and that their assets are what has been listed in the bankruptcy. The trustee may also ask any additional questions they have regarding the bankruptcy paperwork. While this is called a Meeting of Creditors, it is rare that any creditors appear.

After the 341, the court has to wait two months to allow for any creditors or the trustee to object to the debtor receiving a discharge. In the rare case that this happens, our experienced bankruptcy attorney can help you through that and help you receive a discharge.

ERASE YOUR BILLS

Metro Detroit Area Bankruptcy Attorney

Call us for a FREE Consultation :  Call Now 1-844-ERASE-BILLS 

Foreclosure Experts southfield,Metro Detroit Area -Michigan

The Only Solution to Foreclosure- Foreclosure Experts

 

You may think there is nothing you can do once you have received a foreclosure notice. You are behind on your mortgage payments and you feel like you can’t catch up. You can stop foreclosure by hiring an experience bankruptcy attorney. By filing bankruptcy you can stop the foreclosure and get your house back.

Foreclosure Expert

Foreclosure Expert Metro Detroit Area-Michigan

The attorney at A Better Way Bankruptcy has over 23 years of experience dealing with cases just like this. Their professional staff has been helping clients with this problem and others. If you are in the Metro Detroit area, these experts can help you through the entire bankruptcy process and stop your foreclosure. There are more options than you think!

You may think you have limited choices during a foreclosure but there are many options available. Our experienced bankruptcy attorney can help you get back your piece of mind, stop your foreclosure, and help you sleep at night; our friendly office will make you feel at home. Bankruptcy isn’t the end of the world – A Better Way Bankruptcy can help you save your house and get a fresh start.

ERASE YOUR BILLS

Call us for FREE Consultation :  Call Now 1-844-ERASE-BILLS