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May 2012 Archives

Chapter 7 bankruptcy filing for NASCAR driver's wife

In Michigan or anywhere, bankruptcy is not an easy answer for everyone, but when debt becomes overwhelming, it can help people regain some financial freedom and potentially wipe out their past debts. Recently, the spouse of a former NASCAR driver filed for Chapter 7 bankruptcy protection. Thankfully, the action will mean that the pair will be able to remain in their home during the process.

Octomom's Chapter 7 bankruptcy case dismissed

A judge dismissed 'Octomom' Nadya Suleman's attempt to discharge approximately $1 million of debt in bankruptcy court. Residents of Livonia, Michigan, may remember when Ms. Suleman came into the national spotlight after giving birth to octuplets conceived through in vitro fertilization. Her Chapter 7 bankruptcy was thrown out, the judge said, because she failed to file a dozen financial documents and statements related to her inability to pay her debts.

It is possible to rebuild your credit after filing for bankruptcy

When debt continues to pile up and options are running out, the last resort is often a scary one for many Michigan residents. However, sometimes filing for bankruptcy is the only solution for some individuals to get out of debt. Personal bankruptcy is a process that provides debt relief and can eventually give you a new slate to work with.

Michigan residents take note: debt collection being investigated

Residents of Michigan who are buried by debt may be overjoyed to learn that one of the nation's largest medical debt collectors is subject to investigation for a potential violation of federal law. Accretive Health stands accused of violating laws that require medical facilities to render emergency care despite legal status, citizenship or payment ability.

Myths about credit cards and handling credit card debt

Many Michigan residents have no doubt felt the effects of credit card debt. Often times, people may build up a lot of credit card debt during a bout of unemployment, to ease the financial stress of costly medical bills, or due to some other kind of financial distress. When it comes time to pay off that debt, though, many may well feel overwhelmed.