Consumer Bankruptcy Lawyers in Portage, Michigan

Find the right Consumer Bankruptcy attorney in Portage, MI

Bankruptcy is a legal procedure allowing a person or business to have their debts discharged, in part or in whole. It is usually treated as a last resort, because, while it can prevent financial catastrophe, it has some major long-term consequences. This warrants careful consideration of the costs and benefits. Since it's a product of federal law, bankruptcy is handled in federal courts. Therefore, the rules and procedures governing it in Michigan will be the same as anywhere else in the country. Individual courts in Portage, Michigan will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Portage, Michigan

There are 2 main types of consumer bankruptcies in Portage, Michigan: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is discharged. Fortunately for debtors, many types of property are exempt from liquidation, including homes, vehicles, essential personal items, and retirement accounts.

Once eligible assets are sold, and the proceeds turned over to the creditors, most remaining debt is excused. However, some types of debt cannot be discharged in bankruptcy, including student loans, taxes, child support, personal injury awards, and fines. If most of your debt in Portage, Michigan is not dischargeable, you might want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Portage, Michigan

Chapter 13 Bankruptcy in Portage, Michigan is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each individual case. Chapter 13 does not eliminate any debt, but it creates a new payment plan that should give the debtor some breathing room. Usually, all of the debts are consolidated into 1 periodic payment. While this might make it take longer to pay off the debt, if the debtor is willing to make a few sacrifices, the plan should be manageable.

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

The answer to this question depends heavily on your individual situation. If you have enough steady income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 might be a good option. If you don't have much steady income, and most of your property is exempt, Chapter 7 might be better.

Whatever your situation, you should speak with a local Portage, Michigan bankruptcy attorney. Your lawyer will be able to advise you of your options and their likely consequences, which will help you make a more educated decision.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Portage

Portage is a Kalamazoo County city that incorporated as an official Michigan State city in 1963. There are roughly 45,000 Michigan State residents living in Portage which is known nationally for its fantastic network of well kept historical parks, trails, and other recreational areas. The bikeway system, constructed in 1989, totals over 50 miles long accessing nearly every portion of Portage. That's over five times the length of the city's expressways! The Kalamazoo Air Zoo, an aviation museum, is a popular attraction for visitors. Great restaurants like the Craftsman Chop Company, Fieldstone Grill, and Bravo Restaurant Café attract tourist and local clientele with their outstanding dishes. There are also plenty of chain restaurants within city limits. Shopping is also a Portage attraction. The Crossroads Mall is the largest retail center in all of Southwest Michigan providing shoppers with a wide range of choices. Some visitors opt to stay in the accommodations near the mall but there are also a number of other locally owned hotels available.

Portage serves as a somewhat major distribution center as a result of affordable warehousing and convenient location along major state highways. So much business is sure to attract plenty of professionals like lawyers. Portage lawyers can help you sort out whatever legal issue you may encounter and they also have experience with local Portage, Kalamazoo County, and Michigan State court procedures. Portage is a destination for so many different things like business and pleasure making it quite the rising star attraction in the State of Michigan.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY