Category: What is chapter 13 bankruptcy

Bankruptcy Is Not Freedom

Chapter 7 vs chapter 13

Filing bankruptcy is almost always bad news. Make no mistake about it. Some people think that it is a fresh start. It is not. It does not automatically release you from everything that you owe and it can have a devastating effect on your credit rating. That being said, as bankruptcy attorneys in Michigan can tell you, it is not the end of the world.

Last year when it came to bankruptcy michigan saw 56,000 case. That is a rate of approximately 5.64 per 1000 population. This is a fairly high rate. Most of these people who file for bankruptcy will find their way back eventually. But we should not forget or take lig Read More