Bankruptcy
Over 1,200,000 people in this country file for bankruptcy protection every year. Bankruptcy law has been in existence since the 1800’s and simply put is a legal means for honest, hardworking people to obtain a fresh start from financial difficulty.
Acclaim Legal Services specializes in helping people in Michigan gain a fresh financial start through the use of a Chapter 13 Reorganization or a Chapter 7 Fresh Start program. The goals for our clients are always to:
- Improve or repair credit
- Resolve emergency issues such as home foreclosure, car repossession, wage garnishments, etc. For this reason we offer same day court protection.
- Create a stable financial future through debt elimination or debt consolidation which promotes reasonable repayment terms and solid budgeting practices.
- Minimize and eliminate the stress that comes with financial difficulties
For our client’s convenience, we have offices located on Southfield, Warren, Dearborn and Flint, Michigan.
What is a Bankruptcy?
Bankruptcy is a legal means, provided under federal law that allows you to discharge some or all of your debts, in order to obtain a fresh start from financial hardship. There are two main types of consumer bankruptcy.
Chapter 7, A Fresh Start
Most people seeking protection through Chapter 7 bankruptcy law want to pay their debts, but simply cannot. Unforeseen emergencies such as medical bills, divorce, or job loss can quickly place an honest, hard working person in financial hardship. Chapter 7 provides debt relief and a fresh start. To learn more, visit our Services page.
Chapter 13, Customized Debt Consolidation Plan
Chapter 13 is a form of bankruptcy, but it is a reorganization and repayment plan. The purpose of the program is to:
- Provide a means to re-structure debt based on a reasonable, personalized repayment plan
- Prioritize debts and debt repayment
- Provide emergency protection to stop:
- Home Foreclosure
- Car Repossession
- Judgments and Wage garnishments
- Creditor Calls and creditor harassment
- Restructure debt obligations to promote reasonable repayment within a 36 – 60 month time period
- Pay all unsecured debts back at 0% interest
- Some debts may be paid back at a reduced rate, depending on your ability to pay. At the end of the program, whatever general unsecured debt that is unpaid is legally eliminated.
- Pay all unsecured debts back at 0% interest
Talk to a Bankruptcy Lawyer
Bankruptcy may be the answer you have been looking for to regain financial control. Our bankruptcy attorneys are available to meet with you in Southfield, Warren, Dearborn or Flint to discuss all of your available options. Because the bankruptcy laws are complex, we specialize just in Chapter 7 and Chapter 13 bankruptcy cases.
We offer free in-office or phone consultations to review your personal circumstances, analyze your situation and advise you on the best course of action. We specialize in bankruptcy law, debt resolution, foreclosure prevention and credit repair. We have offices in Southfield, Dearborn, Flint, Ann Arbor and Warren, Michigan. Please call us toll free at 866-261-8282 or click here to schedule a consultation right now.
