An accident, unexpected medical costs, job loss and other situations can suddenly throw a person deep into debt. The good news is help is available. Filing for bankruptcy protection can put an immediate stop to collection agencies and provide you with the fresh financial start you need. At The Smith Law Offices, P.C., our attorneys are here to help guide you through this process, enabling you to begin a new chapter in your life.
Our lawyers represent people across southeast Michigan in a wide range of bankruptcy-related matters, including:
Chapter 13 bankruptcy protection: A Chapter 13 filing can be the right answer for a person whose income is too high to qualify for other forms of bankruptcy protection. Filing for Chapter 13 enables you to reorganize your debt, establishing an affordable repayment plan that lasts for either three or five years. Once the repayment period comes to an end, most remaining debt will be discharged entirely.
Chapter 7 bankruptcy protection: Perhaps the most popular form of debt relief, a Chapter 7 filing will effectively discharge most of your debt. However, there are certain income restrictions that must be met in order to qualify for Chapter 7 protection. Our attorneys will thoroughly review your situation to determine if this is the right option for you.
Defending against foreclosure actions: Few things are more stressful than the thought of losing your home. Filing for Chapter 13 bankruptcy automatically stops collection proceedings, including putting a temporary halt to foreclosure actions. This can help buy you the time you need to get caught up on your mortgage payments and may enable you to renegotiate the terms of your agreement.
Ending wage garnishment: It is an unpleasant surprise to find creditors taking money out of the paycheck you have worked hard to earn. Filing for bankruptcy will result in an “automatic stay,” which puts an end to collection actions, including wage garnishment. If you do not qualify for bankruptcy protection, we can work with your creditors to negotiate a payment plan. We can also negotiate a plan with the IRS if you owe back taxes.
Many people assume there is a stigma surrounding bankruptcy and that filing for debt relief protection somehow means they have failed. We are here to dispel any myths you may have regarding bankruptcy and to help you understand that this is often the best means for getting out of overwhelming debt.