Legal Question in Bankruptcy in Michigan

Re: Bankruptcy?

If you do not have a lot of savings or other resources should your husband be out of a job for a while, then bankruptcy sounds like your best option. However, there are several other factors and issues that a lawyer must discuss with a client before recommending bankruptcy. For example, it might be feasible or necessary for one of you to file bankruptcy, but not the other. And, there are timing issues as well so that it works best for you (i.e., stopping a foreclosure, etc.). And, neither of you can file if you have filed in the past 8 years - no exceptions.

I would suggest setting up a consultation with me to discuss your current situation and what would be the best route for you, depending on what happens over the next few months.

I hate to see people pay credit cards trying to survive when in reality they are just buying a few extra months and really should be saving every penny they have (especially if a relocation is involved).

Please contact me if you'd like to set up a consultation. I am located in Oakland County.

Thank you.

Re: Bankruptcy?

I am very sorry to hear about your situation. It seems to me that you will likely be filing for bankruptcy soon. The answers to your questions are somewhat fact sensitive. I would be happy to discuss your situation with you in a preliminary way and then refer you to a bankruptcy attorney. I am not presently taking new bankruptcy clients.

Re: Bankruptcy?

Generally, I advise clients to stop making credit card payments if they cannot make their mortgage payment. Although you seem to have resigned youself to losing your house because of the negative equity, there are reasons you may want to keep making payments through a Chapter 7 bankruptcy.

It sounds like bankruptcy may be a great option for you, but bankruptcy does often require some planning. Please feel free to contact me for a free consultation at 248.679.1552.