Benefits of a Michigan Bankruptcy

Most people are aware of the negative side of bankruptcy. In fact, you may still consider filing for bankruptcy as a shameful act which will ruin your credit and saddle you with an adverse social stigma. It is true that your credit score will be hard hit by a bankruptcy filing but through careful financial management it can be rebuilt. For most people facing bankruptcy, their credit score has already been damaged by late payments or defaults. As for the social stigma, there is no shame in filing for bankruptcy when it is your only option for getting your financial future back on track. For those who have been pushed into insolvency due to events beyond their control, such as a job loss, a costly medical emergency, or investment failure, bankruptcy is a legal solution for regaining financial control and getting a fresh start.

The benefits of bankruptcy begin the moment your petition is filed with the court. An automatic stay will be imposed by the bankruptcy court. This means that your creditors can no longer make collection attempts from you personally. All of their collection efforts must go through the court. You are protected by the court. This gives you breathing room and the time and ability to catch up on mortgage payments or car payments. You can fight a foreclosure, repossession, or wage garnishment by filing for bankruptcy. Once your bankruptcy case is completed, you will be discharged of all your eligible unsecured debt, such as medical bills and credit card debt and, in some cases, second or third mortgages which exceed the value of your home. You will be able to move forward with a clean slate, making new financial arrangements designed to rebuild your credit while employing sound money management.

Michigan Bankruptcy Firm

Filing for bankruptcy can be a complicated process. You will be subject to many rules and regulations which you must follow to ensure that your case is not delayed or dismissed. Ensuring that everything is done properly can be done with the help of a knowledgeable and skilled attorney in your area.

Hensel Law Office, PLLC is dedicated to helping clients with Chapter 7 and Chapter 13 Michigan bankruptcy cases. The firm is located in Sterling Heights and serves clients in that city as well as Warren and the surrounding area. Attorney Thomas Hensel will completely handle your bankruptcy case from start to finish; you will never be turned over to another attorney or paralegal. He offers a completely personalized experience in handling your bankruptcy, from helping you to fully understand the process to ensuring that it done accurately, thoroughly, and per state and federal regulations. To learn more about your debt relief options and bankruptcy eligibility, contact the firm to schedule a free, initial consultation.