Effective May 1, 2013, the Bankruptcy Courts for the Western and Eastern Districts of Michigan will begin charging a new fee of $25 for each claim transferred. The purpose of the fee, as stated by the Judicial Conference Committee, relates to the number of claims transferred and the impact they have on the workload of the Bankruptcy Courts, including Court time and resources.

Thinking of filing for bankruptcy? Make the process go more smoothly by getting to work quickly.
One of the worst parts of my job as a bankruptcy lawyer is telling my clients what documents they need to get me in order to get the process rolling.

Bankruptcy Benefits The term “Bankruptcy” is not a four letter word.  Many people think that bankruptcy will ruin their credit for the rest of their life, and leave them without the option to purchase a new home or car.  Many of the myths that surround bankruptcy simply are not true, and in most cases, there [...]The post The Benefits of Bankruptcy appeared first on National Bankruptcy Forum.

Some debtors claim their mortgage lender refused payment after they file bankruptcy protection.  While this may sound unusual, the lender may decide not to accept payment from you in order not to violate the automatic stay that goes into effect when your petition is filed. When bankruptcy is filed the automatic stay goes into effect.  [...]

Evidence is building that more and more often, medical bills are pushing people into bankruptcy.

Debts that Survive a Chapter 7 BankruptcyThere are certain debts that are discharged regardless of whether a Chapter 7 or a Chapter 13 is filed. Discharged means that you will no longer be responsible for repaying them once the bankruptcy is over. In a Chapter 7 you will not have to repay any portion of the debts unless there are unexempt assets that the trustee divides among your creditors. In a Chapter 13 the repayment plan will most likely provide for some portion of the debts to be paid back.

What is a Chapter 7? What is a Chapter 11? What is a Chapter 12? What is a Chapter 13?What is a Chapter 7?Chapter 7 is the most popular type of bankruptcy. In a Chapter 7 bankruptcy, you must fully disclose your property, debts and financial activities over the several years prior to the filing of the bankruptcy.  Typically three months after the case is filed, you receive a discharge of most of your debts with exception of certain nondischargeable debts.What is a Chapter 13?Chapter 13 is a reorganization for individuals.

What Happens to my Credit Cards when I File Bankruptcy? The quick answer is that it depends. It depends on the status of your accounts. Your credit cards likely fall into one of these three categories:Cards on which you have a zero balance