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November 2014 Archives

Can I keep my house in Chapter 7 or Chapter 13 bankruptcy?

Michigan consumers who are facing overwhelming credit card debt may be considering filing for personal bankruptcy. However, many people hesitate because they are unsure about the security of their homes and property. Before proceeding with a bankruptcy filing, it may be wise to consult with an experienced bankruptcy attorney. In order to determine if assets can be protected, the attorney will assess the financial situation. After analyzing the circumstances, he or she will explain the protection offered by a Chapter 7 or Chapter 13 bankruptcy.

Chapter 7 may be the first step to a stable financial future

There are negative connotations to bankruptcy that are not necessarily deserved. Many people may not even consider filing for bankruptcy, despite the severity of their financial situation. Michigan readers may be interested in how a man who is running for Congress in another state was motivated by his bankruptcy experience. He says his Chapter 7 bankruptcy may serve as a lesson to people with overwhelming debt.

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Marrs & Terry, PLLC
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