I’m Mike Shovan and I’m a Bankruptcy Attorney serving Mt.Pleasant, Mi, and the surrounding central Michigan areas. I’d like to welcome you to Bankruptcy-in-Michigan.com, and I invite you to learn more about filing bankruptcy in Michigan. I’ve attempted to answer common question with this site and help folks in the Mt. Pleasant Mi area learn…
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Michigan Bankruptcy Exemptions Updated
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…
Bankruptcies are on the rise in February of 2010
The new law Congress passed to slow down bankruptcy filings is not working. All the new law does is impose unnecessary cost burdens on you. 111,693 bankruptcy cases were filed in the US in February of 2010 – that is 9% increase from January. Chapter 7 filings are up and Chapter 13 filings are down….
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…
Are student loans dischargeable in a Chapter 7 Bankruptcy in Michigan?
As a general rule, student loans are not dischargeable. However, they can be discharged if you can show that the repayment of the student loans would impose an undue hardship on you. If you have any questions about Bankruptcy in Michigan, call Attorney Mike Shovan with the Bay Area Bankruptcy Clinic at (877) 233-9389. Michael…
What debts are not dischargeable under a Chapter 7 Bankruptcy in Michigan?
Tax debts owed to the IRS or the State of Michigan are not dischargeable. Any debts incurred by fraudulent acts are also not dischargeable. Same goes for debts incurred for luxury goods or services and debts for cash advances made within 60 days before the case is filed. Debts for alimony, maintenance, or support and…