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Why might successful professionals need to file for bankruptcy?

When some people think about personal bankruptcy, they often picture those with limited resources and irresponsible personal habits. It is certainly true that there are types of bankruptcies specifically geared toward those with lower incomes and significant amounts of unsecured debt, specifically Chapter 7 bankruptcy. However, Chapter 7 bankruptcy is not the only type of  … Read more

How long does a Chapter 13 bankruptcy take to complete?

People often struggle with the decision to file for personal bankruptcy. Someone who has achieved some degree of professional success, in particular, may feel worried that a filing will affect their quality of life and their reputation in the community. Despite such reservations, those facing unconquerable debt or particularly aggressive collection efforts may eventually decide  … Read more

What is an emergency bankruptcy filing?

In some cases, those who file for bankruptcy have been considering this opportunity for a long time. They’ve been slowly watching their debt become insurmountable. They may have been looking into all of their legal options and trying to determine what will work the best. But in other cases, filing for bankruptcy is an emergency  … Read more

How Chapter 13 bankruptcy helps those worried about foreclosure

Homeowners in the Royal Oak area often pay a premium to live in a prestigious neighborhood with better schools when compared with those in nearby counties. It is common for families to dedicate a significant portion of their household budgets to mortgage payments and other housing-related expenses accordingly. Unfortunately, it usually takes decades to pay  … Read more

Dos and Don’ts for Bankruptcy

Bankruptcy is a legal process that enables consumers to get rid of their debt and start fresh through the court system. Depending on the type of bankruptcy filed, some consumers will have to make monthly payments to the bankruptcy court over a specified period of time, while others will have their debts dissolved. There are  … Read more

Can I keep my home or car when filing for bankruptcy?

One reason that some people don’t file for bankruptcy is because they don’t want to lose their assets. They think of bankruptcy as a process of liquidating assets, paying off their creditors with the money from those sales and then having the rest of their debt forgiven. They do want to get rid of their  … Read more

Two Ways Filing for Bankruptcy Provides Immediate Relief

Bankruptcy is designed to offer relief to debtors who have gotten in over their heads. For many debtors, the most immediate relief comes in the form of the automatic stay. The automatic stay is an injunction that goes into place as soon as your bankruptcy petition is filed. It serves to put an immediate halt to most  … Read more

Why Are There Bankruptcy Exemptions?

If you file for bankruptcy, one thing that you want to look into is the list of different exemptions that you can utilize. Essentially, if you’re filing a Chapter 7 bankruptcy, you may be liquidating some of the assets that you own. While actually rare, this means that some of your assets must be sold  … Read more

Divorce and Bankruptcy: Who Takes the Debt?

Financial issues are one of the leading causes of divorce for married couples in Michigan. If you have accrued a significant amount of debt during your marriage, you and your spouse may fight about your financial obligations. Especially when one of you has caused or accumulated more of that debt than the other, there may  … Read more

Let’s Talk AboutYour Financial Future. Call For A Consultation.

For trusted help in matters of bankruptcy, estates, business, taxation or real estate, we encourage you to contact us for a no-obligation consultation. During our first meeting at our Royal Oak office, over the phone or via videoconference, you will be introduced to your main point of contact who will work closely with you throughout your case. We will take the time to listen to your story, answer your questions and develop a plan for success. No judgment, just advice geared toward your financial goals backed by decades of experience.

Please call 248-927-2755 or send us an email to learn more or to schedule an appointment. We look forward to serving you.

Gudeman & Associates, P.C.

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1026 W. Eleven Mile Rd.
Royal Oak, MI 48067


New Clients: 248-927-2755
Existing Clients: 248-546-2800
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1026 W. Eleven Mile
Royal Oak, MI 48067

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