Many people do not realize how crippling debt can be until they find themselves dodging phone calls from creditors and ignoring electronic and snail mail demand notices. There is even a misconception that individuals who cannot pay their financial obligations are irresponsible and living beyond their means. While that may...
You are no doubt looking forward to your wedding day. The invitations have been sent out, and the preparations are actually going smoothly. There is only one little issue: Your groom-to-be has recently declared bankruptcy. How will this affect your marriage? Credit history questions You may wonder if the bad...
With summer ending, the holidays are just around the corner. If you are on a tight budget, you may have a lot of concerns about the holiday season already. Buying presents and decorations can put a strain on your finances. This can be especially troubling if you are dealing with...
Many people work hard for years to pay off their homes. When you paid yours off at long last, you must have felt incredibly proud. Whether your mortgage lasted for 15 years, 30 years or another length, it was too long. You must have often felt like no end was in...
Female breadwinners in Ann Arbor, Michigan are breaking the glass ceiling, achieving career success and earnings that outpace their male counterparts. As female breadwinners make great strides toward equality, many are coming to grips with the fact that they will be responsible for spousal support at the end of a...
Many people are apprehensive about bankruptcy because of the common misconception that you will have to liquidate all your assets. On the contrary, the objective of bankruptcy is to facilitate repayment of debt, and if this can be done without liquidation, it is entirely possible that you can keep your...
Disability can change a Michigan family’s life significantly, especially if a newly impaired parent’s income was the basis for child support payments. Because disability can significantly affect a person’s ability to work, it can often be accompanied by a sharp reduction in income. This can impact a parent’s ability to...
If you have been unable to make mortgage payments for a while, you may be facing a home foreclosure. The prospect of losing your home can cause a lot of anxiety and stress, as well as a great deal of confusion about how to proceed legally. With so much weighing...
The child support situation can vary greatly for people in Michigan and across the United States depending on the financial circumstances of both parents and the specific needs of a child. When people are considering divorce, child support can be a major financial factor to think about in planning for...
For couples in Michigan, shifting views of gender roles can lead to stresses on a marriage. Many couples are forming marriages built on a basis of gender equality and mutual achievement in the workplace, but many others marry with presumptions about traditional gender roles. For example, they may assume that...
If you are filing for bankruptcy, you will have to attend what is commonly known as a “341 meeting” of creditors. This will not be a court appearance, but rather a meeting held in a less formal environment. The outcome, however, will be important to the disposition of your bankruptcy case....
When Michigan parents get a divorce, they must decide who will get custody of the children. Legal custody refers to who has the right to make major decisions about such issues in the child’s life as religion, education and medical care. Parents might share legal custody even if only one...
When parents in Michigan make the decision to divorce, they may wonder how they will handle time away from their children. When both parents are accustomed to sharing one home with their kids, adapting to a child custody and visitation schedule can be emotionally and logistically difficult. The logistical elements...
When unemployment or medical problems strike Michigan residents, incomes could fall and bills may go unpaid. However, bankruptcy could represent a viable approach for eliminating debts and reclaiming financial health. Legal and financial advisers view bankruptcy as a tool to open a new path forward. People can take proactive steps...
Divorce can be hard on children, but there are a number of things parents in Michigan can do that will make the transition easier. For example, it is important for parents to talk to children about everything from whether they think they are responsible for the breakup to encouraging the...
When people in Michigan struggle with overwhelming debt that seems impossible to repay, there may be only one way forward to help protect their financial future: bankruptcy. However, for many, the costs associated with filing for bankruptcy can make this option difficult to access. As many people who file for...
Facts And Myths About Chapter 7 And Chapter 13 Bankruptcy In today’s information age, there is no shortage of myths about your rights and obligations in a bankruptcy filing. Here are some of the facts: A bankruptcy filing will stop creditor harassment – When you file a Chapter 7 or Chapter...
When couples in Michigan divorce, they may find that the financial aspects of ending a marriage can outstrip even the emotional obstacles. This can be especially true in the case of retirement funds, which generally represent significant investments. Often, both parties plan to rely on the savings in these funds...
Michigan residents and others who have student debt may be familiar with the fact that those debts usually cannot be discharged in bankruptcy. The only way they can be discharged is if a student would experience an undue hardship if forced to repay them. While undue hardship is meant to...
While divorce is often associated with younger people, statistics show that in Michigan and across the United States, an increasing number of divorces happen later in life. Over the past 25 years, the rate of divorce for Americans over the age of 50 has more than doubled, and that rate...
Michigan residents who are overwhelmed by their financial obligations to the point that they are unable to repay all of their debts may want to consider bankruptcy as an option. There are two primary types of consumer bankruptcy that may offer debtors some relief. Chapter 7 bankruptcy is the most...
Sooner or later many Michigan families need to reach for a credit card when an unexpected expense pops up. Credit card debt has become a fact of life for many American households. The Federal Reserve reports that credit card balances nationwide exceeded $1 trillion in 2017. A senior analyst from...
In Chapter 13 bankruptcy cases, debtors have the ability to modify their mortgages in certain situations. A string of recent decisions may signal a trend that could affect the way bankruptcy courts in Michigan address these modifications. In these cases, a number of Ohio judges have issued rulings that greatly...
When an individual in Michigan gets divorced, their life could be impacted in several ways. For instance, the separation could affect an individual’s ability to get insurance. In some cases, a spouse who was on a shared policy while married will be entitled to COBRA for 36 months after the...
According to author and psychologist Dr. John Gottman, one particular communication pattern sends more couples to divorce courts in Michigan and around the country than any other. That is contempt. Gottman has identified four toxic communication behaviors that predict a couple will divorce. These behaviors are criticism, contempt, defensiveness and...
The effect that the economy has on Michigan residents and others throughout the U.S. varies depending on the age group of the citizens. For instance, it should come as no surprise that the economic crisis of 2008 hit Millennials, who were just finishing college and getting prepared for their first...
Michigan couples who file for divorce in January are not alone. While researchers at the University of Washington have determined that March and August are the two most popular months for divorces, a significant increase in filings tend to happen immediately after the new year begins. Many legal practitioners attribute...
Family law attorneys in Michigan and around the country report a spike in calls about divorce following summer vacation and the holiday season. It seems that people who have been undecided about their marriage up to that point may have made a final effort to save it and failed if...
Michigan debtors who are considering filing for Chapter 13 bankruptcy may be interested in a ruling made by a Georgia bankruptcy court. The decision marks the second time within a month that a bankruptcy court permitted a Chapter 13 debtor to include in her payment plan the payments for redeemed...
The Federal Rules of Bankruptcy Procedure changed in a number of ways on December 1, 2017, impacting bankruptcy cases in Michigan and across the United States. The primary effects of the changes involve Chapter 13 cases where creditors have secured claims, unsecured claims or judgment liens. Broadly speaking, the changes...
Individuals in Michigan who are approaching or going through divorce during the holiday season already know how difficult such a process can be, and how the difficulty can be exacerbated by the holiday festivities around us. Indeed, divorcing during the holidays can have a lasting impact on the individuals involved,...
For Michigan residents and others, getting a divorce can be both emotionally and financially draining. To increase the odds of recovering both financially and emotionally from a divorce, it may be a good idea to lean on a support system. In most cases, this will include friends, family and an...
Bankruptcy is a legal process that can be used to resolve overwhelming debt, and every year, 800,000 people in the United States use it to get out of debt. Michigan residents that have gone through a bankruptcy may think that buying a new home may be impossible. Although it may...
Bankruptcy laws help people reduce or eliminate their debts. Although this protection is available to all adults, Michigan seniors are a growing section of bankruptcy filers. There may be a few reasons why they’re turning to the federal bankruptcy code to resolve their financial problems. Possibly the most significant cause...
People in Michigan who are struggling with whether or not they should try to stay married for the sake of their children should think about several things. There are reasons that might support going ahead with divorces and others that might warrant further consideration. When people are in marriages that...
The number of bankruptcy filings fell 1.8 percent in September 2017 compared to September 2016. Overall, there were 790,830 bankruptcies filed by Michigan residents and others through Sept. 30. There were 805,580 bankruptcy cases in the prior year. According to the Administrative Office of the U.S. Courts, this was the...
Michigan couples may look avidly for a way to avoid a divorce and repair a marriage that is no longer intact. In some cases, the partners are parents and want to preserve a shared home for their children. In other cases, they may simply be dedicated to counseling or making...
People struggling with debt may turn to avenues such as taking on a second job or bringing in a renter to help with the bills. Sometimes, these approaches pay off. Other times, though, they can be risky or unnecessary. For example, an improperly vetted renter could cause significant property damage....
If one judge had his way, Michigan residents and others would not face debt limits when filing for Chapter 13 bankruptcy. He and others shared this sentiment at an October meeting of the American Bankruptcy Institute Commission on Consumer Bankruptcy. This may help those who don’t qualify for Chapter 13...
Michigan residents who are looking for ways to better handle their high-interest debts may want to look into debt consolidation. This may allow them and others to make one payment each month at a lower interest rate than what is currently being paid. Debt consolidation may be best for those...
Consumers in Michigan and around the country often turn to credit cards following an unexpected financial setback such as a layoff or illness. Paying revolving debt off can be difficult for people who are struggling to make ends meet because minimum monthly payments are made up almost entirely of interest,...
Although each bankruptcy case is unique, there are many common financial issues. A job loss, divorce or injury can put you in enough distress to declare bankruptcy. However, another common reason for financial turmoil is providing financial assistance to a child. How can your adult children cause you to have...
Roughly half of Americans in Michigan and elsewhere who hold credit card debt carry a balance for at least two years. Of those who admitted to carrying a balance for at least two years, half said that they have had it for five years. This was according to a study...
October is here, which means it is almost time for Halloween. If you recently divorced and have a parenting plan, you might be wondering how to handle this holiday. Holidays come with unique challenges for divorced parents. Who will take the kids trick or treating? Fear not! Candy night does...
Michigan debtors who are considering filing for Chapter 13 bankruptcy may want to know if purchasing or renting a home would be feasible. Because Chapter 13 bankruptcy can remain on a person’s credit for years, obtaining a home can be difficult. However, it would not be impossible. Chapter 13 bankruptcy...
The national divorce rate average hovers around 35 percent of all marriages. However, a study using 2015 data from the American Community Survey suggests that some married couples in Michigan are more likely to get divorced than others. One factor that plays a significant role in determining whether a couple...
Changes to the way that medical debts are treated on credit reports may be helpful to some Michigan residents. Starting on Sept. 15, 180 days must pass before an unpaid medical debt can appear on a person’s credit report. In addition, a medical account in collections will be deleted if...
Being strapped for cash can feel humiliating and stressful. You might try to ignore it, but the reality is setting in that you are unable to make the minimum payment on your credit card bill. Whether you lost your job, had an unexpected expense or you have been spending unwisely,...
Michigan consumers who are considering filing for bankruptcy might wonder what it will cost and whether it is the right choice for them. Depending on the situation, a person might file for Chapter 7, Chapter 12 or Chapter 13 bankruptcy. Each type has different filing fees, and if the debtor...
Alimony is often ordered in Michigan divorce cases when one spouse has been the primary wage earner throughout the marriage. If alimony is ordered or agreed upon, the payments may be tax deductible. However, the orders or agreements must adhere to the parameters outlined by the Internal Revenue Service. According...
Prenuptial agreements have become far more common in Michigan and around the country in recent years according to a 2016 survey from the American Academy of Matrimonial Lawyers. The association’s members say that requests for prenuptial agreements have increased by 61 percent over the last three years, but they also...
When Michigan consumers file for Chapter 7 bankruptcy, they are asked to provide information to trustees about finances and various accounts. However, at least two trustees in Maryland have deviated from the usual procedure by making a request for information that bankruptcy attorneys have called intrusive and warn may discourage...
With ever-changing marijuana laws across the country and in Michigan alone, it can be confusing to understand what is legal or illegal. Medical marijuana is legal in Michigan and the law just underwent several changes. A lot of people are wondering how many plants a patient or caregiver can grow....
Michigan residents dealing with the aftermath of a loved one’s death might have to deal with unpaid debts on credit cards. When someone who was the sole account holder dies, then the creditor could make a claim for the debt upon the estate. Surviving family members would not be obligated...
All your bills are flowing in and you are wondering if you are going to be able to afford them. You might be thinking of skipping a payment or two, but which ones? Skipping a monthly payment has consequences, but each one is unique. Missing a cell phone bill is...
Michigan consumers who are struggling with certain financial obligations might consider a debt consolidation loan. While this might appear to be a way to get control of debt and lower monthly payments, it might not be a long-term solution because if a person has a spending problem, it does not...
Michigan residents may be surprised to learn that what spouses do for a living can influence their chances of remaining married. Researchers from the career information company Zippia used data from the U.S. Census Bureau to track divorce rates among various occupations, and they found that working in the military...
Michigan residents may believe that a debt consolidation loan may be the answer to their debt issues. However, this is not always the case, and it is possible that debtors may find themselves even deeper in debt after consolidating. This is because consolidating existing debt doesn’t address the issue of...
Michigan residents who file for bankruptcy can expect to have their finances scrutinized. In a Virginia case of a man who filed for Chapter 7 protection and had two homes, the bankruptcy court found that he had not abused the system despite a challenge from the trustee overseeing his debt...
A big part of divorce involves deciding how custody of children gets split between the two parents. In 2015 alone, there were 29,748 divorces filed in the state of Michigan. Many of those had children involved, and as a result, they were a lot more complicated. While the parents will make cases for...
Michigan residents might have strong feelings about the topic of immigration, but this issue is especially concerning to families who must face the thought of separation when it comes to illegal immigrant parents and their children. Since the election of President Trump, many families have begun selecting guardians who can...
People in Michigan whose bankruptcies have been dismissed might wonder how this will affect their credit rating. A dismissed bankruptcy may occur either with or without prejudice. In the latter example, a bankruptcy is dismissed because of an error in the paperwork or another procedural mistake. If this happens, the...
Michigan residents who have adjustable-rate mortgages or home equity lines of credit may see their monthly payments go up. The same is true of those who have outstanding credit card balances. This is because the Federal Reserve has increased interest rates to between 1 and 1.25 percent. It is expected...
Michigan consumers who are struggling with credit card debt might wonder what options are available for consolidating those obligations. The first thing a person in this situation should consider is whether it is possible to pay off the debt in three to five years and if the debt is less...
Being arrested can be a worrisome experience. Often, those who are placed under arrest will be unaware of their legal rights. A Michigan person facing trial on a criminal charge has a right to a speedy trial before an impartial jury. This is a guarantee based on the Sixth Amendment...
Divorce can be an emotional event for any Michigan residents to go through. However, as difficult as it can be for an adult, the end of a marriage can be just as hard on any children estranged parents may have. To ease a child’s mind, parents should be upfront and...
Michigan couples who have been married for more than 30 years may have seen the headlines reporting that divorce rates for those over the age of 50 have continued to climb. While the number of divorces for those over the age of 50, called gray divorces, have risen, the risk...
When a Michigan resident files for Chapter 7 bankruptcy, it will stay on their credit report for 10 years. Those who file for Chapter 13 bankruptcy will see it remain on their credit reports for seven years. However, the effects of the bankruptcy do not necessarily last for that long....
The bankruptcy processes in Michigan and across the country are governed by federal law. With some important exceptions, Chapter 13 is basically a uniform code for all of the United States. A bankruptcy trustee in Texas retroactively adjusted confirmed Chapter 13 plan payments in 25 cases. In an opinion issued...
Many lawyers advise clients not to testify in their own defense, but sometimes, the clients go ahead and do it anyway. Frequently, this testimony turns out to be a mistake. Lawyers know the criminal justice system well. If they advise you to not testify but you want to no matter...
Michigan consumers who have recently put charges on their credit card might wonder whether they would be able to discharge them in bankruptcy. A West Virginia bankruptcy court held that a woman who took a cash advance in the amount of $7,993 two months before filing for Chapter 7 bankruptcy...
When a Michigan court finalizes a child custody arrangement, it is generally set unless there are certain reasons the order needs to change. It should be noted that the court will rarely change the child custody arrangement if it is working well for everyone involved, though there are a specific...
When Ann Arbor parents of young children end their marriages, the non-custodial parents will normally be ordered to pay child support. This is to ensure that custodial parents have the money they need to raise their children. A question often arises as to what happens if a noncustodial parent become...
Under some circumstances, Michigan law can hold you jointly responsible for someone else’s actions. Helping someone else commit a crime or avoid punishment after committing one can lead to criminal charges of aiding and abetting or being an accessory after the fact. Penalties for aiding and abetting Defendants charged with...
According to the IRS, the average tax refund for Michigan residents and other Americans in 2016 was $2,860. While some will use that money to take a vacation or make other large purchases, others will use the money to file for bankruptcy. According to the Administrative Office of the U.S....
One of the duties of bankruptcy judges in Michigan and around the country is evaluating the repayment plans submitted by Chapter 13 petitioners. Individuals or couples who file Chapter 13 bankruptcies are expected to use most of what they earn to pay down their outstanding debts over a period of...
Michigan residents may have heard about a recent Illinois bankruptcy court ruling involving a man who wanted to file for chapter 13 bankruptcy while in jail. The court ruled that a debtor’s own income must be used when determining whether that person is eligible to file for chapter 13. The...
Collection accounts happen when creditors determine they will be unable to collect payment by standard means and transfer the debt to a collection agency. This agency will then pursue a debtor in attempt to collect payment. Collection accounts are a problem that many Michigan residents face, but it can help...
If you are struggling to pay your bills in Michigan each month and can barely afford to keep the roof over your head, you may be considering filing for bankruptcy. Although this offers you the opportunity to put an end to the stress and frustrations you are experiencing from not...
Michigan parents who are ending their marriage should try to talk to their children together when they tell them about the divorce. The right timing may make the process less difficult. March and August are the most popular times to file for divorce. The former month allows parents to deal...
Michigan residents may have heard about the Deadbeat Parents Punishment Act. It was created in 1998 to penalize those who travel to another state in an effort to willfully avoid paying child support. Parents may be punished if they cross state lines for the purposes of avoiding support payments, fail...
Michigan consumers who are considering filing for bankruptcy must first pass a means test. This examines their income and financial obligations and determines whether they are eligible to file for Chapter 7 bankruptcy. A Chapter 7 bankruptcy allows a person to have most debts discharged with a few exceptions such...
When a Michigan resident purchases a new car but then has difficulty making the monthly payments, giving up the car could still leave money that must be paid on the loan. If the lender sells it after a repossession for less than the loan balance, the remainder is called a...
In some Chapter 13 bankruptcy cases in Michigan, creditors may return money that is paid to them to the bankruptcy trustee. A 2016 ruling in an Alabama bankruptcy court provides some guidance about how returned money might be handled. In one of the cases, a debtor successfully completed his Chapter...
Healthcare costs in the United States are projected to account for 17 percent of the country’s economy, translating to over $9,110 spent per person on medical needs. Despite the trillions of dollars that fall into this portion of the economy, little is known about how the costs breakdown. A recent...
When Michigan residents file for bankruptcy, the court will review every aspect of their debts, income and assets. Allowances might be made for a vehicle, even if it was bought a short time before the petition was filed. Because cash in a bank account could be directed toward the payment...
Michigan residents may have participated in a survey that the Consumer Financial Protection Bureau released the results of in early January. The agency asked more than 10,800 people between 2014 and 2015 about their interactions with debt collectors. Roughly 2,000 people responded, and 75 percent said that debt collectors continued...
If you have been following our blog, you are familiar with the financial hangover that occurs in January when people confront the charges they racked up in making holiday purchases. This monetary reckoning happens in households in every income bracket, and the financial pinch is felt severely in many families....
“[I]t’s the little things.” That is how we express what fundamentally contributes to a successful partnership between a law firm and the clients it represents. “Big things” — case dispositions, money settlements, court orders and so forth — are obviously of utmost importance regarding any firm’s client advocacy, but, in...
Many people experience financial difficulties following the holiday period. Even with a set budget for gifts, food and other expenses, it’s easy to overspend in the moment and put off worrying until later. If you’ve started the New Year with a financial hangover from the holidays, the worry may already...
