Every year, numerous families in Michigan are affected by divorce. This leaves parents trying to figure out the best way to handle the custody issue. Many courts are leaning toward joint custody arrangements. What does that mean? Who can get it and how can a family law attorney help resolve custody matters?
Bankruptcy law and your future
Many people in Michigan and elsewhere disregard bankruptcy as a good form of debt relief because of how it can affect their credit rating. While it is true that utilizing bankruptcy law to get out of debt can do a number on one's credit score, it may only be a temporary problem. If gone about the right way, bankruptcy can be good for one's present situation and for the future.
Advantages of filing for Chapter 13
Over time, personal debt can pile up higher and higher, making it nearly impossible for anyone to stay on top of it all, even those with significant incomes. If you have substantial income and are looking for financial relief and protection from creditors, filing for Chapter 13 bankruptcy may be a tool that meets your needs,. However, you must be willing to follow the process through to the end and remain within its rigid guidelines.
Michigan divorce law: property division
When going through the divorce process, figuring out who gets to keep what can be a struggle. At the end of the day, most people just want to walk away with their fair share of assets. Michigan divorce law helps couples achieve that by being an equitable distribution state.
Michigan bankruptcy law: thinking long term
In 2017, roughly 700,000 Americans filed for bankruptcy -- some of whom were Michigan residents. They did this because they found themselves in difficult financial positions that left them feeling that they had no other option, and that is okay. However, before utilizing bankruptcy law benefits, one must think long term.
