Consumer Bankruptcy Lawyers in Westland, Michigan

Find the right Consumer Bankruptcy attorney in Westland, 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 Westland, Michigan will have some unique rules, however, so you should consult with a local lawyer before you file.

Chapter 7 Bankruptcy in Westland, Michigan

In Westland, Michigan, there are 2 commonly-used forms of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves liquidation of some of the debtor's assets. It requires some percentage of the debtor's property to be sold in order to pay off as much of his or her debt as possible. However, the majority of property that most people own is exempt. This usually includes homes, vehicles, insurance policies, and retirement accounts. These do not need to be sold.

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 Westland, Michigan is not dischargeable, you might want to consider other options besides bankruptcy.

Chapter 13 Bankruptcy in Westland, Michigan

Chapter 13 Bankruptcy in Westland, Michigan differs significantly from Chapter 7. It might be a better option than Chapter 7, depending on the facts of your 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 Westland, 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 Westland, 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.

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Life in Westland

Westland, Michigan is located in Wayne County just about 16 miles away from the city of Detroit. It has a budding population of over 86,000 residents. The city had its humble beginnings in the 18th century as a prime location for mill industries.

Currently, Westland is an ideal location for persons seeking employment and residential opportunities. Its location near Detroit makes it an excellent place for commuters to live and engage in retail and commercial activity. For example, the Westland Shopping Center is located in the city. The Shopping Center has over 100 stores that shoppers can choose from. As an "All-American City", Westland also has an abundance of recreational and dining opportunities throughout the city.

Westland is presently invested in preserving its historical roots. Recently in 2009 the city received a grant through the Neighborhood Stabilization Program. The grant was in the amount of over million and will be used for restoring historic districts.

Many Westland, Michigan lawyers belong to several bar associations, including the Detroit Metropolitan Bar Association. Membership in multiple bars allows lawyers in Westland to serve their community with a more thorough legal perspective. Most Westland claims are heard in the 18th District Court of Michigan, which was recently renovated to promote more efficient court operations.

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