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Wednesday, February 20, 2019

An Introduction To Chapter 7 Bankruptcy

Bankruptcy is a legally declared inability of individuals or businesses to pay their debts. A bankruptcy can be requested not only by creditors in an effort to get what they are owed but also by the insolvent individual or organization. If it is difficult to repay debts, declaring the bankruptcy may be the right solution to debt problems.

Out of six basic types of under the Bankruptcy Code, Chapter 7 is a “liquidation” of nonexempt assets to pay debts. In a court-supervised procedure, a court appoints a trustee who liquidates the non-exempt assets of the debtor’s estate and makes distributions to creditors. The Bankruptcy Code allows the debtor to keep certain exempt property; but a trustee will liquidate the debtor's remaining assets.

According to the amendments to the Bankruptcy Code enacted in to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, if a debtor’s income is in excess of certain thresholds, the debtor may not be eligible for chapter 7 relief. Filing a petition under chapter 7, automatically stays most collection actions against the debtor or the debtor's property, but potential debtors should realize that the filing of a petition under chapter 7 might result in the loss of property.

After Chapter 7 bankruptcy, one will no longer owe money on credit cards, unsecured loans, unpaid hospital, medical and utility bills and unpaid rent. But debts like state and federal taxes (unless they are more than three years old), child support required by law; alimony, government-backed student loans, debts due to fraud, fines, penalties and debts due to willful injury to another person or property are not eliminated by Chapter 7 bankruptcy.

Just a few months after the petition is filed, in most chapter 7 cases, the individual debtor receives a discharge that releases debtor from personal liability for certain discharge-able debts. Thus, chapter 7 Bankruptcy is designed to give the debtor a new start and a chance to live with sound financial management.

Thursday, November 29, 2018

How Utilities and Bankruptcy Interact

">Under 11 USC section 366,

"...a utility may not alter, refuse, or discontinue service to, or discriminate against, the trustee or the debtor solely on the basis of the commencement of a case..."

As the weather changes and it often comes up in discussions, can a utility company discontinue service after a case has been filed. Generally no, unless certain points are met under Section 366. 

A typical method, is a security deposit, after the case is filed, which will provide adequate protection to the utility company. 

Don't be caught off guard this time of year, with the onset of freezing temperatures, you could easily be left in the cold. 

For a free comprehensive consultation, call today, 313-343-9930. 

Friday, November 9, 2018

7 Things Chapter 13 Can Do

Chapter 13 is a very powerful and useful chapter that can accomplish many things. Here are 7 things that you can get in a chapter 13 that you will not get anywhere else.

  • You can change or modify your automobile contract.
  • You can strip or remove second and third mortgage from your home
  • You can pay your tax debt interest and penalty free*
  • You can pay pennies on the dollar to your unsecured debt
  • You can get caught up on your mortgage arrears and stop foreclosure
  • You can enter into a permanent loan modification with your mortgage
  • You may be able to eliminate certain student loan debt, or reduce it
Unlike Chapter 7, which will not help you with any of the above mentioned things, a Chapter 13 will give you many more options to choose from. While Chapter 7 is quite powerful, it is limited in certain ways. 

These are a few of the many benefits of Chapter 13, for a free confidential consultation, call me today at 313-343-9930. 

*tax debt and bankruptcy are very complicated and have restrictions, not all tax debt is subject to discharge, and no information here should be construed as tax advice. The tax laws and how they interact with bankruptcy are complex and require a full and comprehensive review before any course of action is advised.

Thursday, July 26, 2018

Low Low Ch 7 Attorney Fee's

Are you looking for an experienced attorney, who knows the law,  who is affordable? Look no further, with over 16 years of bankruptcy experience and over 5,000 cases handled you have come to the right place!

Chapter 7 "Liquidation" is the chapter you can file to get rid of all your debt, and pay no one back! Literally a fresh start. But, you may be able to keep certain things that you need as long as it is reasonable, such as your house or car.

The law is complex, but I can explain it to you in simple terms and understandable concepts. It is my job to know the law, and help you through the system.

Call today, I will meet or beat any other attorney's lowest price! 313-343-9930

Note: some debts are not subject to discharge, such as student loans, child support and certain taxes, but of course there are exceptions to all of these. 

Wednesday, June 6, 2018

Free Power of Attorney Document

With every new will, obtain a free power of attorney document, that is right, free ($200) value!

A will is the corner stone of any estate, while a trust can do more, and is more complete. Most folks can get by with a basic will rather than an expensive trust. If you do not have a will the State will determine who gets what! The State!

If you have worked hard all your life to amass your fortune, or if you are just starting out with a family or career, there is always a good time to start, and it is never to late.

Call today for a free telephone consultation at 313-343-9930! 

Thursday, January 4, 2018

Estate Planning

The cornerstone of any good estate is planning is documents. You need a will or trust, it is imperative. Medical directives and powers of attorney are essential too, if you wait to long, they are difficult to get, and impossible to enforce. As state of mind issues arise, your loved ones will be at a deep disadvantage.

Think of the most simple thing, like cashing a check, or withdrawing money from your bank to pay bills. Without a power of attorney, your loved ones will not be able to do this, if you are unable to! You could fall behind on your house payments, or car payments, or have your utilities shut off.

So, do not wait, get that will, or power of attorney document in place today!

Call me at 313-343-9930 or email me at 

Thursday, November 9, 2017

Thanksgiving Special on Fees

From now until Turkey Day you can get a basic chapter 7 for $700.00* this includes the filing fee, what do you have to lose, except all your debt!

*fees are subject to change if there are novel or complex issues that come up after consultation, but honestly, most case are fairly routine.

CONSULTATIONS ARE ALWAYS FREE!  Call or email to schedule an appointment today!

An Introduction To Chapter 7 Bankruptcy

Bankruptcy is a legally declared inability of individuals or businesses to pay their debts. A bankruptcy can be requested not only by c...