Filing for bankruptcy can feel overwhelming. You might worry about losing your home, your car or the belongings you depend on every day. The good news is that Michigan law allows you to protect certain assets, called exemptions, so you can start fresh without losing...
Bankruptcy and divorce are two of life’s most challenging experiences, each capable of causing significant emotional and financial stress. When these two complex legal processes intersect, they create a particularly daunting scenario for many. Couples find themselves...
When facing overwhelming debt, bankruptcy can provide a way out. The two most common types are Chapter 7 and Chapter 13 bankruptcy. Each serves different needs and comes with its own set of rules. Here is a breakdown to help you decide which might be best for your...
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...