Bankruptcy

If you have recently lost your job, dealing with an onslaught of bills is overwhelming. You want to protect your family and keep them in their home, but mounting financial pressure makes that problematic. Bankruptcy is a standard tool used to help people avoid further...

When you have a serious disability that keeps you from being able to support yourself, you may apply for Social Security Disability Insurance or Supplemental Security Income from the U.S. Social Security Administration. If you receive approval for these benefits but...

When you file for bankruptcy, you can keep certain assets designated by law as exempt. Michigan residents can choose between the state or federal bankruptcy exemptions. Review the types of property you can retain if you live in Michigan and decide to file for...

For many people, financial peril is only one small emergency away. Job loss, reduction in hours, divorce or medical bills can quickly upset a delicate financial balance. Most often, individuals will continue to fight against the mounting debt to work through their...

The pile of debt continues to mount and now overwhelms you. You have resorted to unwise actions such as paying off credit card bills with other credit cards. But now you are faced with another challenge: You have lost your job. How will you overcome debt? Where is the...

Forces beyond your control stack the deck against your finances. Wage stagnation proves a problem for most people. But as a senior citizen, it may be difficult for you to find a steady job in the first place. Companies in Michigan and beyond are shifting from pension...

Many people avoid filing for bankruptcy because they worry about losing their possessions. In fact, bankruptcy laws allow filers to keep certain assets, including equity in a primary home and a vehicle. Before pursuing bankruptcy in Michigan, review the state's laws...

Many people who file bankruptcy only need to do so once to discharge or repay their debts. Yet, yours may have continued mounting after your first bankruptcy. You may fear that you cannot file a second time. But you can do so, depending on the date of your previous...

If you experience financial hardship to the point where you are unable to pay down your debt and afford basic living expenses, you may consider filing for bankruptcy. There are two types of bankruptcies for which consumers can file: Chapter 7 and Chapter 13. Chapter...

Making the decision to file for bankruptcy takes a lot of consideration. Although it gives people a fresh start, it also negatively affects one’s credit and ability to borrow money. The good news is it does not take long to bounce back if one is responsible and takes...