The thought of filing for bankruptcy is depressing for most Michigan residents. It is hard to admit one needs help getting personal finances in order. Here’s the deal: When thought of as a tool for financial improvement, filing for bankruptcy law protections does not have to feel like the end of the world. It can serve a valuable purpose — as it did for singer Lil Kim.

Like her or not, the Lil Kim case is a great example of how filing for Chapter 13 can help when a person is in economic trouble, so her story is worth a read. According to reports, the singer filed for bankruptcy in May 2018 in an effort to stop her mortgage lender from foreclosing on her home. The creditor asked for permission to put the home up for auction, but that request was ultimately denied and Ms. Kim was allowed to reorganize her debts and keep her property.

Just recently, Lil Kim filed a request in court to have her bankruptcy case dismissed. Why would she do this? She says she no longer needs court protection from her creditors. When a Chapter 13 petition is filed, creditors are no longer able to attempt to collect on any debts owed until the bankruptcy case comes to a close or the court orders otherwise. Ms. Kim used this last year to work out a loan modification with her mortgage lender, and she was able to pay off some debts leaving her in a better financial position and feeling confident enough to close her bankruptcy case.

There are a good number of Michigan residents who can benefit from utilizing the full benefits of Chapter 13 bankruptcy. There are others, though, who may only need extra time to figure out their finances and filing for bankruptcy can offer that. Those who think that Chapter 13 may suit their needs can turn to an experienced bankruptcy law attorney for guidance and assistance pursuing the debt relief that they desire.