Legal Question in Bankruptcy in Michigan

Should my wife declair bankruptcy?

my wife just found out that a $13,000 debt is being garnished from her wages. it is her dept from before we met. we cant afford this garnishment, and i was wondering if she should declair bankruptcy.

We just bought a new car, and it is in both of our names. how would a bankruptcy affect this. would the car be declaired an asset, or is a car under a lien not considered an asset?

Thanks for your help.

~Keith


Asked on 10/18/04, 2:05 pm

1 Answer from Attorneys
Jesse Sweeney Sweeney Law Offices, P.L.L.C.

Re: Should my wife declair bankruptcy?

The car would not be considered an asset as it is secured by a lien. If you are unable to make payments on the $13,000 then it may be a good idea to file for bankruptcy, either a Chapter 7 or Chapter 13, depending on your income and expenses.

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Answered on 10/19/04, 9:32 am


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