When it comes to retirement, many Michigan residents look forward to collecting the Social Security benefits that they have paid into in all of their years of employment. It is possible to start claiming those benefits at the age of 62. Spouses have the right to file claims on each other records, as do ex-spouses -- under certain circumstances. How does divorce affect Social Security spousal claims?
Michigan residents who are struggling financially are often told by their friends and family to avoid bankruptcy at all costs. Some believe that it is the worst thing one can do. While bankruptcy law is not perfect, it does help hundreds of thousands of people every year regain financial control. Three people recently shared their stories about how bankruptcy was actually the best thing they did for themselves.
When getting married, it is reasonable to want to celebrate the occasion. Some couples in Michigan do this by throwing lavish parties that often cost them an arm and a leg. What they may not realize at the moment is that it may also cost them their marriages, as debt is a contributing factor in numerous divorce cases.
There is a lot of stress that comes with being in debt. One certainly does not need a debt collector making them feel any worse about their situation. Unfortunately, numerous Michigan residents find themselves dealing with aggressive collection agencies every single day. Some have even had lawsuits filed against them. When this happens, what can one do?
If you have chosen to call it quits on your relationship, but you have children with your ex, there is a lot you will need to figure out when it comes to child custody. A custody order does not just state how often each parent will get time with the children; it can also include specific details as to how certain things are to be handled -- such as the hand-off of children. Thankfully, a family law attorney can help parents in Michigan figure all this out so that their custody orders truly meet their needs.
An article was recently released regarding the state of consumer debt in the United States. In May 2019, consumer debt rose nearly 5%. Michigan residents who have found themselves among those whose debt has risen to uncontrollable numbers may need help getting their finances back under control. Bankruptcy law or other debt relief options may help them with that.
Money is said to be the cause of most fights between married couples. Spouses do not always have the same ideas when it comes to spending and saving, which can add a lot of stress on daily life. There are many couples in Michigan who have filed for divorce, or will end up doing so, due to their inability to agree on money issues. Here are some of the top reasons couples end up fighting about finances.
One of the most pervasive myths about bankruptcy is the incorrect belief that the courts will demand that you liquidate your assets, up to and including your home. The truth is far more complicated, and a variety of factors will impact whether you need to liquidate anything at all.
Homeownership can give a person a sense of security, that is until the mortgage debt becomes too much to handle. When purchasing a home, it may seem affordable at the time, but life changes can quickly turn that affordable payment into a significant liability. Michigan residents who are struggling to pay their mortgage debt have a few options to improve their situations. Filing for Chapter 13 with the assistance of a bankruptcy law attorney, for example, can help one achieve a truly affordable repayment plan.