College graduations have recently concluded for the 2012-2013 academic year, and those who emerged with their brand new degrees are beginning to enter the workforce. In some cases, Michigan grads are finding their job searches to be more difficult than they anticipated. With the economy continuing a slow crawl toward recovery and a depressed job market, many new grads will turn to employment that has nothing to do with their recent training in order to begin paying back their student loan obligations. In the end, some may need Chapter 13 bankruptcy assistance in order to regain financial stability.
Internet mogul files Chapter 7 bankruptcy after losing fortune
Chapter 13 bankruptcy can benefit many struggling in Michigan
Many Michigan residents have always viewed bankruptcy as a last resort, a step only meant to be taken when no other options remain to clear up a bleak financial landscape. In the past, a number of those who filed for bankruptcy were perceived as having spent more than they could afford on frivolous and unnecessary items. Over the past few years, however, that perception has faded as the harsh reality of the current economic crisis has hit many Americans hard. It's fair to say that now, a significant amount of those who file for Chapter 13 bankruptcy do so because they really do have no other choice.
Foreclosure scam adds insult to injury for Michigan homeowners
Homeowners in Michigan and across the US have been scrambling to keep their homes in these uncertain economic times. For many of these individuals, their home represented not only the place they lived, but also their largest financial investment. The reality of the housing market collapse brought the dream of home ownership to an end for many. Not only is there no return on their investment, but any equity they may have had was lost when the market bottomed-out. That is not the case, however, for foreclosure scam artists.
