How to File Chapter 11 Bankruptcy in Sterling Heights

How to File Chapter 11 Bankruptcy in Sterling Heights

Sterling Heights Chapter 11 Bankruptcy When you look for bankruptcy options, chapter 11 offers a smoother transition and continuity of operations, minimizing disruptions to the business and preserving its value. Chapter 11 bankruptcy allows you to remain in control of your assets and operations, known as the “debtor in possession” principle. This means you continue […]

Barbeque Chain Bankruptcy in Michigan

Barbeque Chain Bankruptcy in Michigan

The Barbeque Chain Bankruptcy Dickey’s Barbeque Pit in Michigan is the latest casualty in the barbeque chain bankruptcies in Michigan. The chain which sold delicious slow-cooked meat over the counter was a huge hit with meat lovers. This bankruptcy comes in the wake of a new trend in the restaurant industry affecting the Midwest. Prior […]

What to Expect in a Meeting of Creditors

What to Expect in a Meeting of Creditors

The 341 Hearing When you file for Chapter 7 or Chapter 13 Bankruptcy, the first step is the meeting of creditors. This is also known as 341 hearing. In this meeting, the lawyers, a trustee, and creditors discuss your bankruptcy petition. The 341 hearing or meeting of creditors is supervised by the trustee. Purpose of […]

Protecting Retirement Savings in Bankruptcy in Detroit

Protecting Retirement Savings in Bankruptcy in Detroit

Protecting Retirement Savings in Bankruptcy in Detroit More folks over the age of 65 are now going bankrupt. In fact, the number of people from this age group going through this is three times higher than it was back in 1991. These days, they make up 12% of all those who file for bankruptcy, compared […]

Can Student Loans be Discharged in Bankruptcy?

Can Private Student Loans be Discharged in Bankruptcy?

Student Loans and Bankruptcy Lately, there’s been a noticeable change with student loans and bankruptcy. In November, the Biden team rolled out a new rule. The plans for the rule are still under review, but if fully implemented, it will make it easier to achieve bankruptcy discharge of federal student loan debt. The change happened […]

How to File Chapter 7 Bankruptcy in Detroit

How to File Chapter 7 Bankruptcy in Detroit

Filing Chapter 7 Bankruptcy in Detroit Filing for Chapter 7 bankruptcy requires careful planning and preparation to ensure a smooth and successful process. By following several steps, you can ensure that your bankruptcy petition is accurately and efficiently processed, helping you to achieve a fresh start in your financial life. 1. Evaluating your financial status […]

Can You File Bankruptcy Without an Attorney in Michigan?

Can You File Bankruptcy Without an Attorney in Michigan?

The bankruptcy process in Michigan can be complex and overwhelming, especially if pursued without the guidance of an attorney. For those who do not have the financial means to hire legal representation, it is possible, but not preferable to navigate this process independently. The Bankruptcy Process in Michigan The first step in the bankruptcy process […]

Do Chapter 13 Trustees Monitor Credit Reports?

Do Chapter 13 Trustees Monitor Credit Reports?

Do Chapter 13 Trustees Monitor Credit Reports? Chapter 13 bankruptcy is primarily often used by wage earners who are struggling to pay off their credit card debt. It provides a payment plan to pay the creditors off over a period of time so they can eventually be debt-free. When Chapter 13 is filed, a trustee […]

Sole Proprietorship and Bankruptcy in Michigan

Sole Proprietorship and Bankruptcy in Michigan

Bankruptcy can be particularly challenging for sole proprietors, as their personal and business finances are intertwined. Understanding how bankruptcy impacts a sole proprietorship can help make an informed decision during this difficult time. Business filings in the US rose 40.4 percent, from 13,481 to 18,926, in 2023. [1] What is a Sole Proprietorship? A sole […]

Do Bankruptcies Show Up on Background Checks in Michigan?

Do Bankruptcies Show Up on Background Checks in Michigan?

Are you considering filing for bankruptcy in Michigan? One common concern that individuals have is whether bankruptcies will appear on their background checks and impact their future opportunities. Let’s look into this together. Does A Bankruptcy on a Background Check Matter in Michigan? In Michigan, the inclusion of bankruptcy information on a background check depends […]

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