There is really nothing easy about ending a marriage. The divorce process can be emotionally challenging and financially draining. In an effort to help out the money side of it, there are some Michigan residents who will look for the most inexpensive ways to end their marriages. The problem is, the most inexpensive ways to get through a divorce are not always the best.
Marriage is something that no one should jump into without some serious thought. There are Michigan residents, though, who have entered into marital relationships that they should not have for various reasons. In some cases, divorce may not be what is needed. Instead, filing for an annulment may better suit their situations. However, when is filing for an annulment appropriate?
Last week, this column discussed who can benefit from Chapter 7 bankruptcy. This week, Chapter 13 bankruptcy law will be the focus. Who in Michigan is Chapter 13 designed for? Is it for you?
Business owners in the state of Michigan work hard to keep their companies afloat. When one has sacrificed everything to see his or her business succeed, the last thing one wants is to have issues in his or her personal life affect the future of the company -- but this can happen if divorce ever enters the picture. Knowing that divorce can harm one's business, what can one do to prevent that from happening? One of two things can actually be done to protect one's business from the ravages of divorce, and whichever suits one's needs must be completed well before one's marriage falls apart.
Chapter 7 bankruptcy can help numerous Michigan residents get out of debt and find financial security. Unfortunately, there are a lot of people out there that claim it is the worst thing anyone can do from a credit standpoint, which stops others from even looking into it. True, this type of debt relief is not for everyone, but if you find yourself in an economic hole that is only getting deeper, it may be time to consider how bankruptcy law protections may benefit your specific situation.
While alimony is not awarded in every divorce case, there are some Michigan residents who do have it included in their final divorce settlements. Generally, the amount awarded stays the same for the duration of the order. However, under current divorce law, it may be possible to adjust the amount if there is sufficient cause to do so.
Many people associate divorce proceedings with protracted court battles and significant personal and financial losses. However, divorce doesn't have to unfold in a manner that is damaging to everyone involved. It is possible for divorcing couples to do so amicably.
Michigan residents who have reached severe financial lows that they need help to improve their situations may feel that they have failed in life. No one wants to admit that they are financially strapped, but sometimes admitting it is the best thing one can do. By viewing bankruptcy or other debt relief programs as an opportunity rather than a failure, it is easier to pull the trigger and seek the assistance one needs in order to achieve the economic improvement desired.