Consumer Bankruptcy Lawyers in Flint, Michigan

Find the right Consumer Bankruptcy attorney in Flint, MI

Bankruptcy is a legal procedure allowing a person or business to have their debts excused, in part or in whole. It is typically treated as a last resort, because, while it can prevent financial catastrophe, it has some influential long-term consequences. This warrants careful consideration of the costs and benefits. Being a creation of federal law, bankruptcy will go through federal courts. Accordingly, the process for filing for bankruptcy in Michigan is essentially the same as the process anywhere else in the United States. However, particular courts in Flint, Michigan will have distinct rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Flint, Michigan

There are 2 typical forms of bankruptcy in Flint, Michigan. They are known as Chapter 7 and Chapter 13 Bankruptcy. Chapter 7 liquidates part of the debtor's assets. It requires a certain percentage of the debtor's assets to be sold off to pay as much of his or her debt as possible. However, many forms of property that most people own are exempt, meaning that they don't need to be sold. This often includes houses, vehicles, insurance policies, and necessary personal items, like clothing. These assets are not available to creditors.

Once the non-exempt property is sold, the rest of the dischargeable debt is excused. Some forms of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Flint, Michigan is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Flint, Michigan

Chapter 13 bankruptcy in Flint, Michigan is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your specific case. Chapter 13 bankruptcy does not absolve debt, it restructures it. This involves a court coming up with an adjusted repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original arrangements that created the debt in the first place. This creates a new payment structure, typically involving a single monthly payment, that the debtor should find manageable.

Which Type of Consumer Bankruptcy Should I File in Flint, Michigan

Whether Chapter 7 or Chapter 13 is the right choice for you depends heavily on your distinct situation. If you have a stable income stream, and a lot of non-exempt property, Chapter 13 might be right for you. If you don't have a stable income, and most of your property is exempt, Chapter 7 might be a better way to go.

Of course, you should always seek the counsel of an accomplished local Flint, Michigan bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your specific situation.

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Life in Flint

If anyone has seen the documentary on GM by Michael Moore titled Roger Me, they will recognize Flint, Michigan. Flint is the birthplace of General Motors.

Flint is located 66 miles from Detroit, is the seventh largest city in Michigan, and is home to approximately 102,434 people.

Popular attractions in Flint include the Flint Children's Museum, the Flint Institute of Arts, Longway Planetarium, Sloan Museum, Crossroads Village Huckleberry Railroad, and the Whaley House Museum.

Transportation is the largest industry in Flint. To serve this industry, attorneys in and around Flint are capable of handling legal matters that corporations in Flint, as well as residents, need resolved.

Overall, Flint is a homely town with down-to-earth, hard-working residents. Although Flint is a small area, the legal force around Flint and in Michigan is quite capable of handling the legal matters of Flint residents.

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