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What is chapter 7 and how does it work?
When a person files a bankruptcy case, the goal is to wipe out as much debt as possible so that the person can get a fresh start. You may not want to get rid of some of your debts if, for example, you want to keep your home and car and want to continue to pay the mortgage and car payments. There are other debts that you cannot get rid of. Your other debts are either dischargeable, meaning that your personal liability will be eliminated, or non- dischargeable, meaning that you will continue to remain liable on the debt after your bankruptcy is over. Learn More
Not necessarily. There are different options when it comes to homes and vehicles when filing for bankruptcy. Learn More
Did you know that interest rates move in lockstep with the Fed’s rates? The Fed’s key borrowing rate acts as a benchmark for other loans. So when their rates increase, so do yours. In the past year, existing rates have led to tighter lending restrictions for nearly everyone seeking a loan. For instance, the Fed […]
Has your business fallen on hard times? Have you taken out a variable-rate loan to help you through? While a variable-rate loan may seem like a viable solution, it’s important to understand that you’re at the mercy of changing interest rates. And as any Michigan bankruptcy attorney will tell you, an increase in interest rates […]