Chapter 7 Bankruptcy Attorney

Deciding to file bankruptcy can be one of the most stressful and emotional decisions that an individual can make. The feeling of failure and despair can overwhelm individuals. However, bankruptcy is not a failure, it is a fresh start. Filing for Chapter 7 bankruptcy can help an individual get back on their feet and begin to rebuild their lives.

Miller Cohen, PLC provides representation to individuals looking to file a Chapter 7 bankruptcy and receive a fresh start. We can walk you through the process, help you collect the documentation necessary to file, and give you guidance to protect your assets. A bankruptcy is not something you should go through alone. Contact us today at 800-221-6021 to schedule a free bankruptcy consultation.

Protecting Your Assets

Filing bankruptcy does not mean that you have to give up all of your possessions. There are exemption laws that enable you to keep certain items. In Michigan, you have the option of utilizing either a state or federal system of exemptions to protect your property. The federal exemptions are used most often because of the protections it offers.

Federal law gives individuals who enter bankruptcy certain exemptions to protect their property in a Chapter 7 bankruptcy. Some of these exemptions include:

  • Household Goods and Furnishings $12,625.00
  • Equity in Real Property $23,675.00 for individuals, $47,350 for joint filers
  • Equity in a Motor Vehicle $3,775.00
  • Jewelry $1,600.00

Debtors also have the ability to protect:

  • Future Social Security Payments
  • Future Unemployment Compensation payments
  • Personal Injury Settlements up to $23,675.00

There are many other bankruptcy exemptions that can be used, including a Wild Care exemption that can be used to protect any property including cash up to $13,100.00 in value.

Understanding which exemptions will best protect your property is important in bankruptcy. You need an experienced bankruptcy attorney to help guide you through the process.

Stop Creditors With The Automatic Stay

When an individual enters bankruptcy, the law creates an automatic stay upon filing. This automatic stay bars creditors from attempting to collect from the debtor for the duration of the bankruptcy case. What this means is that an individual receives immediate relief from harassing phone calls, collection letters and garnishments. This is a powerful tool that helps individuals begin to rebuild their lives even before the bankruptcy is complete.

Discharge Of Debts

The goal of any personal Chapter 7 Bankruptcy is to receive a discharge of one's debts. When an individual receives a discharge, the court enters an order releasing the debtor from liability for debts included in the order. From that date forward a creditor is barred from attempting to collect those debts. If a creditor does move forward with collection efforts, the debtor has the ability to go to court and enforce the discharge and receive a money judgment.

Get Answers To Your Bankruptcy Questions. Schedule A Free Consultation

Find out whether Chapter 7 bankruptcy is right for you and what is needed to pursue bankruptcy. For a free consultation, please call 800-221-6021 or contact us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.