Office Location
23843 Joy Rd
Dearborn Heights, MI 48127
Monday – Friday : 9:00 am – 5:00 pm
Saturdays : 9:30am – 11:30 in office or by phone
We offer late night appointments as late as 6:30 by phone or in person Mon-Thur.
Highly Recommended
Get a Free Consultation
Are you drowning in debt and need a fresh start? Look no further than Frego Law, your trusted Michigan Chapter 7 Lawyer.
With years of experience and a proven track record, we are here to guide you through the bankruptcy process and help you regain control of your financial future.
Imagine finally being free from the burden of overwhelming debt, and having a chance to rebuild your life. With Frego Law by your side, you can achieve that peace of mind and start afresh.
Don’t wait another day. Call our office now and schedule a free consultation with our knowledgeable Michigan Chapter 7 Lawyer at Frego Law. Let us help you take the first step towards a debt-free future.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a legal process that allows individuals or businesses to seek relief from their debts by liquidating their assets to pay off creditors.
This form of bankruptcy is often referred to as “straight” or “liquidation” bankruptcy and is typically utilized by individuals or businesses who are unable to repay their debts.
In this process, a court-appointed trustee sells the debtor’s non-exempt assets and distributes the proceeds to creditors.
Once the assets have been liquidated, most remaining debts are discharged, providing the debtor with a fresh financial start. Chapter 7 bankruptcy is not suitable for everyone, and eligibility is determined by the means test.
This form of bankruptcy provides a legal and structured way for individuals and businesses to address overwhelming debt and make a fresh start financially.
If you are interested in filing for Chapter 7 bankruptcy, our experienced attorneys at Frego & Associates are here to help. We understand that the thought of filing for bankruptcy can be overwhelming, which is why we are committed to providing you with the legal counsel, support, and advice you need.
Types of Debt That Can Be Discharged in a Chapter 7 Bankruptcy in Michigan
When filing for Chapter 7 bankruptcy, it is important to understand which types of debt may be discharged, or forgiven, through the bankruptcy process.
Discharging certain debts can provide much-needed relief to individuals facing overwhelming financial challenges, but it’s essential to understand the specific criteria and laws governing the discharge of these debts:
- Certain Tax Debts: While not all tax debts are dischargeable, certain older tax debts may be eligible for discharge in a Chapter 7 bankruptcy, depending on specific criteria.
- Credit Card Debt: Credit card debt is one of the most common types of debt that can be discharged in a Chapter 7 bankruptcy. This includes outstanding balances on credit cards, as well as any fees and interest that have accrued.
- Medical Bills: Unpaid medical bills can also be discharged in a Chapter 7 bankruptcy. This can provide substantial relief for individuals who have accumulated significant medical debt due to illness or injury.
- Past-due Utility Bills: Past-due utility bills, including unpaid electric, water, and gas bills, can be discharged in a Chapter 7 bankruptcy, offering relief from these financial obligations.
- Personal Loans: Certain types of personal loans, such as payday loans or unsecured personal loans, are typically dischargeable in a Chapter 7 bankruptcy.
At Frego Law, our team of experienced bankruptcy attorneys will work hard to ensure that your rights and interests are fully protected throughout the process. We will provide you with personalized attention and an individualized approach tailored to your specific needs.
The Process of Filing for Chapter 7 Bankruptcy in Michigan
Filing for a Chapter 7 bankruptcy in Michigan can provide individuals with much-needed relief from overwhelming debt and the chance to rebuild their financial stability.
To begin the process, you must first qualify by meeting certain criteria, including passing a “means test” which determines that your income is below the median family income in your state.
Once you have met the criteria, you will then need to file a petition with the court and provide the court with details about your assets, liabilities, expenses, and income.
After you have filed the petition, your creditors will receive notice of your bankruptcy filing and must stop all collection activities or contact with you.
The next step is to attend a mandatory creditors meeting. At the meeting, your creditors can question you and review the information you provided in your bankruptcy petition. Individuals must complete credit counseling and a debtor education course before filing for bankruptcy. [2]
After the creditors meeting, the court will issue a discharge order discharging any qualifying debt included in your filing.
Once all of these steps have been completed, you will be able to begin rebuilding your financial stability and credit score free from the burden of overwhelming debt.
At Frego Law, our experienced attorneys provide comprehensive legal services to individuals looking to file for Chapter 7 bankruptcy. We understand the complexities of the bankruptcy process and are committed to providing you with the personalized attention and advice that you need throughout this difficult time.
Advantages of Filing for a Chapter 7 Bankruptcy in Michigan
Filing for a Chapter 7 bankruptcy in Michigan can provide you with a fresh start and the opportunity to rebuild your financial stability. There are several advantages to filing for this type of bankruptcy, including:
- Debt Relief: Filing for Chapter 7 bankruptcy can provide individuals with substantial debt relief by discharging many types of unsecured debts, such as credit card debt and medical bills.
- Fresh Start: Filing for Chapter 7 bankruptcy in Michigan can provide individuals with a fresh start financially and the chance to rebuild their credit score. Once the debt has been discharged, individuals can begin the process of restoring their credit by making timely payments on new accounts.
- Protection from Creditors: Once you file for Chapter 7 bankruptcy, creditors must stop all collection activities and contact. This can provide individuals with much-needed breathing room to rebuild their financial stability without the threat of creditors harassing them for payments or attempting to garnish their wages.
- Quick Process: The process of filing for Chapter 7 bankruptcy in Michigan is relatively quick and straightforward, providing individuals with much-needed relief from overwhelming debt within a short period.
If you are considering filing for Chapter 7 bankruptcy in Michigan, our experienced bankruptcy attorneys at Frego Law can provide you with the guidance and support needed to properly navigate through the process.
Contact Our Experienced Michigan Bankruptcy Attorneys Today
If you are considering filing for Chapter 7 bankruptcy in Michigan, the experienced bankruptcy attorneys at Frego Law can provide you with the guidance and support needed to properly navigate through the process.
With our extensive knowledge of Michigan’s bankruptcy laws, we can help you determine if filing for Chapter 7 is right for your situation and guide you through the entire process.
Contact us today for a free consultation and to learn more about how we can help you find financial freedom.
Sources:
[1] Chapter 7 – Bankruptcy Basics. (n.d.). United States Courts. https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-7-bankruptcy-basics
[2] List of Approved Providers of Personal Financial Management Instructional Courses (Debtor Education) Pursuant to 11 U.S.C. § 111. (2023, November 13). https://www.justice.gov/ust/list-approved-providers-personal-financial-management-instructional-courses-debtor-education
Received Accolades:
206-2010, 2012, 2014-2021
American Bankruptcy Institute
Certified as a Bankruptcy Specialist by ABC
National Association of Consumer Bankruptcy Attorneys
Better Business Bureau
Office Location
23843 Joy Rd
Dearborn Heights, MI 48127
Monday – Friday : 9:00 am – 5:00 pm
Saturdays : 9:30am – 11:30 in office or by phone
We offer late night appointments as late as 6:30 by phone or in person Mon-Thur.