Detroit is the largest city in Michigan with a population over 5.3 million and working population of 2.6 million in approximately 247,000 businesses. However, economy of Michigan went under a tumultuous phase from 2001-2010 and steadily downward until the epic municipal bankruptcy filing by the city which is the largest in the history of U.S.A. There was a decline of 18.5% in the job opportunities from 2001 to 2010. The problem of unemployment combined with the large population influx of the city led to an overwhelming situation of debt that was never seen before.
Filing for Bankruptcy in Metropolitan Detroit:
Unlike the myths revolving around bankruptcy, it is not always the result of reckless and unlimited expenditure but a situation that has arisen from medical issues, national crisis or any unfortunate and often un-foreseen circumstances. It should be kept in mind that bankruptcy is being filed by millions of Americans all over US and more so in Michigan and Detroit and is one of the most popular debt relief support system practiced in the country.
How should I proceed while filing for Bankruptcy in Detroit ?
If you are considering filing for bankruptcy in metropolitan Detroit, the first and foremost step you should take is contacting an experienced and knowledgeable bankruptcy lawyer of Detroit within your financial limit. One need to understand their circumstances in order to make decision about the correct proceedings to be followed while filing for bankruptcy. Chapter 7 and Chapter 13 are the most popular of the bankruptcy laws practiced in and around Detroit but not everyone is eligible for applying for them. So it is important for one to consult a bankruptcy lawyer to understand which option is the best for them. A Detroit Bankruptcy Attorney is your best choice when you are in doubts of any sort regarding bankruptcy.
What is the cost of filing for Bankruptcy in Michigan?
When you are decided about filing for bankruptcy, the next point to be considered is the cost involving the procedures. Here,at A Better Way Bankruptcy, we aim to meet exactly this quality- Affordable Detroit Bankruptcy Attorneys who can help you terminate all your debts with his or her sound advices and legal expertise so that your current financial situation improves for the very best. We also offer free consultation and we are available now 7-days a week.We do our very best to guide you in case you are opting for Chapter 7 or “liquidation Bankruptcy” and chapter 13 or ”Wage Earner’s Bankruptcy”. Our assistance is always there for you from the time you choose to file your petition and all the way through your credit repair.
Bankruptcy is certainly a major financial and legal decision as well as a emotionally draining tumultuous event, but here we aim to ease that out for you as much as we can do possibly. With our experience and skills gathered over 40 years, and offices at Southfield and Sterling Heights, we serve large areas of Michigan including families and individuals residing in Detroit and the suburbs. Our lead attorney,Lyle Leiberman has been specializing in the field of bankruptcy for the past 24 years and is always there to help out anybody who needs it.
*** We handle your financial conditions with utmost care, consideration and thoroughness because we believe seeking a better way!