The U.S. Bankruptcy laws are designed to give honest debtors a fresh start in exchange for following specific requirements. For example: If you file Chapter 7, you are expected to provide a full financial disclosure and surrender nonexempt property to your trustee for sale and distribution to your creditors.  With Chapter 13, you provide a

If the pandemic has affected your business, you’re not the only one. Small and large business owners alike have been struggling to stay afloat and are becoming increasingly disheartened as their sales go down and debt totals go up. Many of them are contemplating bankruptcy- not to close the business down, but to save it.

Some folks might think they can get out of debt by simply dodging a creditor, but unfortunately, it’s not that easy. Fortunately for these creditors, there’s a legal proceeding they can use against elusive debtors to protect their own interests: involuntary bankruptcy. Involuntary bankruptcy is exactly what it sounds like. Essentially, it’s when a creditor

Have you ever gotten a call from a debt collector? If so, you’re not alone. In 2016, the average number of daily calls made by debt collectors was 2.4, with some callers making up to as many as 15 calls a day. Thankfully, there’s federal legislation in place to protect against these pesky phone calls:

If an individual is behind on child support payments, filing for Chapter 13 bankruptcy will not eliminate the financial responsibility. Individuals will still be required by law to make ongoing payments, however, filing for Chapter 13 payments may make it easier for an individual to get caught up if they’re behind on payments.   Here’s everything

A lot of Michigan residents have suffered financially due to the pandemic, and are either contemplating bankruptcy or already filed. If this is your situation, you may be wondering how your bankruptcy will affect the way you file and pay your 2019 income taxes. In this blog, the team at Maxwell Dunn PLC will explain

Our society is driven by credit. The better your score, the greater your access to housing and some types of employment. You also benefit from favorable interest rates and repayment terms on any loans or credit cards.  This is why so many people resist filing bankruptcy, even when they’re months in arrears and their mortgage

Bankruptcy is one of the most misunderstood legal processes. Although it can give struggling consumers and business owners a fresh financial start and even help you keep your car and your home, people visit a bankruptcy lawyer with the same attitude that they visit their dentist: they are facing a necessary evil. At Maxwell Dunn

Most people who file bankruptcy in Michigan opt for Chapter 7. Their case is over in a matter of months and they can start rebuilding more quickly. This is one of the reasons why the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was passed: to direct those who can afford to repay some

When bankruptcy services are being advertised, the expression, “fresh start” appears frequently. “Fresh Start” refers to the legal and bankruptcy filing process, which is designed to help individuals who are unable to repay their creditors. An individual may choose to file bankruptcy to get a “fresh start,” and liquidate assets or create a viable repayment