Personal Bankruptcy in Michigan
Securing a financial fresh start
Chapter 7 bankruptcy in Michigan provides consumers a legal pathway to secure a financial fresh start. It is a lawful way of discharging your debt so that you can get out from under the burden of financial stress and uncertainty.
Chapter 7 is known as a total liquidation bankruptcy—meaning the majority of the debtor’s assets will be seized by the courts and sold off to pay back creditors. This form of bankruptcy, from start to finish, is typically the shortest bankruptcy process.
The Thomas Mengesha Firm, P.C. provides attorney services to help you transition through personal bankruptcy. He can help you decide if chapter 7 is right for your situation and help you take the steps to file:
- Determining eligibility—applying the means test
- Evaluating and prioritizing debt
- Drafting the statement of financial affairs,/li>
- Filing the bankruptcy petition in court
- Helping you transition through the liquidation process
Personal bankruptcy is not something you have to face alone. Contact his bankruptcy law firm in Michigan to retain caring attorneys who will help you seize the opportunity to secure a financial fresh start—beginning today!
Keeping assets during liquidation
Thomas Mengesha is here to help make your chapter 7 in Michigan as positive an experience as it can be. He knows times are tough and that the circumstances which have led you to personal bankruptcy have been difficult.
One of the most important things that a bankruptcy lawyer in Michigan can do is help clients do during chapter 7 is hold onto some necessary property. The state bankruptcy exemption schemes can allow for debtors to retain some of their assets:
- A home up to $20,200
- Jewelry up to $1,350
- Trade tools up to $20,200
- Pensions and retirement benefits
- Alimony and child support
- Household goods and furniture up to $1000
Thomas Mengesha will help you determine which exemption scheme you should choose and develop a lawful strategy to hold onto the property that you need to survive. Let the law protect you during chapter 7 bankruptcy.
The Mengesha Firm, P.C. is ready to help you begin the next debt-free chapter of your life.
Call (248) 421-7852, or toll free at (866) 941-0747, or email us for help with Michigan personal bankruptcy.