As bills pile up and collection calls won’t halt, many people wonder if bankruptcy is a lifeline for them. Our Troy, MI chapter 7 bankruptcy lawyer can assess your circumstances and let you know if filing for bankruptcy is the right choice. At Gudeman & Associates, P.C., we want you to know that you are not alone. If you are dealing with mounting debts that just won’t go away, it may be worth learning more about your options. Filing for Chapter 7 bankruptcy can offer a sturdy way forward, but finding out if it is right for you may require getting an opinion from a professional. To find out if bankruptcy is the best choice for you, contact our team today.
Chapter 7 Bankruptcy Lawyer Troy, MI
Chapter 7 bankruptcy may also be called liquidation bankruptcy, where you eliminate most of your unsecured debts. After filing for bankruptcy, the court appoints a trustee to review your assets and possibly sell any non-exempt property to pay back your creditors. However, many filers can keep most or the entirety of their belongings based on Michigan bankruptcy exemptions. As our Troy chapter 7 bankruptcy lawyer explains, there are many potential advantages of bankruptcy, such as quick debt relief, exemption options, eliminating most or all of your debts, immediate protection from creditors, no minimum debt requirement, and no repayment necessary.
Aspects of bankruptcy to consider are that your credit score may be impacted, you could lose some of your assets, your bankruptcy filing is public record, some debts cannot be discharged, co-signers remain liable, and you must wait eight years before you can file for bankruptcy again. As our chapter 7 bankruptcy attorney explains, you may lose non-exempt property such as luxury items, valuable collections, second homes or vacation properties, or non-essential cash savings that are over the exemption limits. For more information about how bankruptcy can help your individual situation, contact us as soon as you can.
Why Experience Matters For Chapter 7 Bankruptcy
It is important to have a reliable legal team to give you advice about bankruptcy matters. This can be a life-changing decision that leads you to better financial security. You can depend on our chapter 7 bankruptcy attorney to assist you at this time because:
- We understand the stress that financial turmoil can have on clients, so we do everything we can to ensure this decision is in their best interest.
- We have a combined 100 years of experience among our team helping people with bankruptcy and other legal topics.
- We have established a rating of A+ by the Better Business Bureau, showing that our legal services are trustworthy.
At Gudeman & Associates, P.C., we know that financial troubles can weigh heavily on your mind. It is the goal of our Troy chapter 7 bankruptcy lawyer to provide you with the information you need to make a sound decision about whether to file for bankruptcy or not. If you have questions, don’t hesitate to take us up on our offer of a no-obligation consultation to learn more. We hope to be of support to you today!
