Effective April 1, 2010, the federal exemptions that you can use in your Michigan bankruptcy have changed. Exemptions are dollar allowances for real and personal property that you can keep when you file for bankruptcy in Michigan. The exemptions provide the basis for your fresh start. Here are the new exemption amounts: Homestead: 522(d)(1) Real…
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How does filing for Bankruptcy in Michigan really work?
There is a lot of information that you really need to have about bankruptcy to fully understand it. In simple terms, the bankruptcy laws were created so that good people don’t have to suffer through their entire life. Good people like you have the opportunity to get a fresh start. And that’s what bankruptcy does…
Will I ever get a credit card again if I file for Chapter 7 Bankruptcy in Michigan?
People think, “Gee, I’m not going to get a credit card.” Not true again. We will give you a list of banks where you can go open up a savings account and they will hold that savings account as collateral and they will give you a Visa or a MasterCard. That is called a secured…
What are some common mistakes to avoid before I file for bankruptcy in Michigan?
Here is a list of common bankruptcy mistakes to avoid before you file for bankruptcy in Michigan: 1. Do not attempt to hide information or assets from your attorney. You have to open and honest with me so that I can give good legal advice and counsel. Your failure to properly disclose required information could…