Get a Free Consultation
Pay Nothing, Unless We Win
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.
Are you struggling with overwhelming debt and considering bankruptcy in Sterling Heights, Michigan? Frego Law is here to help! Our team of experienced Sterling Heights bankruptcy lawyers will guide you through the process and help you find the best solution to your financial problems.
With Frego Law on your side, you can finally get a fresh start and move towards a more stable financial future. Our personalized approach and expertise in bankruptcy law will ensure that you get the support and representation you need. Contact Frego Law today for a free consultation with a Sterling Heights bankruptcy lawyer. Your path to financial freedom starts here!
There are several types of bankruptcies available under the bankruptcy code in Sterling Heights. The most common include:
In the state of Michigan, bankruptcy laws are governed by federal laws and the bankruptcy code. Bankruptcy provides relief for debtors and businesses who are unable to repay their debts. The majority of bankruptcy filers in Michigan are between the ages of 25 and 44. [1]
In 2023, Michigan saw a 5% increase in bankruptcy filings compared to the previous year as economic challenges have affected the rate. [2]
Certain types of debts can be discharged in bankruptcy, meaning you are no longer legally obligated to repay them. In Sterling Heights, Michigan, bankruptcy can help you discharge various types of debts, including:
Filing for bankruptcy can have significant long-term effects, and making the wrong choice could leave you in a more difficult position. We prioritize our clients’ futures and ensure they feel secure in the financial strategies pursued.
As your bankruptcy attorney, we clarify the differences between Chapter 7 and Chapter 13 bankruptcy, address any questions you may have about the process, and help you find the debt solution that best suits your needs.
The Means Test is a key component in determining eligibility for Chapter 7 bankruptcy in Michigan. This varies depending on the household member count. [3]
Here’s a detailed overview:
If you’re considering alternatives to filing for bankruptcy in Sterling Heights, Michigan, there are several options you can explore to manage your debt more effectively. Here are some alternatives:
When facing financial difficulties, hiring an experienced bankruptcy attorney in Sterling Heights can provide significant advantages. Here’s how our dedicated bankruptcy attorneys can assist you and your businesses in navigating the complexities of bankruptcy:
Navigating bankruptcy can be overwhelming, but you don’t have to face it alone. At Frego Law, our Sterling Heights bankruptcy attorneys are committed to guiding you through each step of the process, ensuring that you understand your options and make informed decisions. With our personalized approach and extensive knowledge, we strive to provide you with the best outcome possible, allowing you to regain control of your financial future.
Don’t let the fear of bankruptcy hold you back any longer. Take the first step towards financial relief and a fresh start by calling the bankruptcy attorneys at Frego Law today. We are ready to listen to your concerns, answer your questions, and help you find the path forward. Get a free consultation today.
FAQs
To qualify for Chapter 7, you must pass the means test, which evaluates your income and expenses. For Chapter 13, you need a stable income to propose a repayment plan. Consulting with a bankruptcy lawyer can help you assess your eligibility.
You will typically need to provide financial documents, including income statements, tax returns, bank statements, a list of assets, and details of your debts.
The duration can vary. Chapter 7 cases typically take about 3 to 6 months, while Chapter 13 cases can last 3 to 5 years due to the repayment plan. The timeline depends on various factors, including the complexity of your case.
Yes, filing for bankruptcy will have a negative impact on your credit score and can remain on your credit report for up to 10 years. However, many individuals find that their credit improves over time as they rebuild after bankruptcy.
In many cases, yes. Under Michigan’s bankruptcy exemptions, you may be able to protect your primary residence and a vehicle, provided you are current on your payments. A bankruptcy lawyer can help you understand what you can keep.
Most unsecured debts, such as credit card debt and medical bills, can be discharged in bankruptcy, meaning you are no longer legally obligated to pay them. Certain debts, like student loans and tax obligations, may not be dischargeable.
Yes, you can file for bankruptcy multiple times, but there are specific time limits between filings. Generally, you must wait eight years to file for Chapter 7 again after a previous Chapter 7 discharge and two years after a Chapter 13 discharge.
Sources:
[1] Filers Most Likely in 25-44 Age Range | ABI. (n.d.). Www.abi.org. Retrieved July 29, 2024, from https://www.abi.org/abi-journal/filers-most-likely-in-25-44-age-range
[2] Bankruptcy Filing Trends in Michigan. (n.d.). Retrieved July 29, 2024, from https://abi-org.s3.amazonaws.com/Newsroom/State_Filing_Trends/2024/Filing_Trends_Michigan.pdf
[3] Office, U. E. (n.d.). U.S. Trustee Program/Dept. of Justice. https://www.justice.gov/ust/eo/bapcpa/20240401/bci_data/median_income_table.htm
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
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.