When an individual files a Chapter 7 bankruptcy case, the debtor’s non-exempt assets become property of the estate that is used to pay creditors. “Property of the estate” is a defined term under the Bankruptcy Code, so a disputed question in many cases is: What assets are, in fact, available to creditors? Read More ›

When an individual files a Chapter 7 bankruptcy case, the debtor’s non-exempt assets become property of the estate that is used to pay creditors. “Property of the estate” is a defined term under the Bankruptcy Code, so a disputed question in many cases is: What assets are, in fact, available to creditors? Read More ›

For most consumers, declaring bankruptcy is a debt relief solution that allows them to get a fresh start in life. However, deciding to file for bankruptcy is a big decision. That’s why it’s important to understand what happens when you file for bankruptcy.
If you’re struggling with debt, reach out to an experienced bankruptcy attorney to discuss which types of bankruptcy can provide you with debt relief.
How Bankruptcy Works

A new amendment was recently enacted in Michigan which expands the scope of receivership proceedings, which are a liquidation alternative to bankruptcy. Previously, the receivership statute in Michigan applied only to receiverships over commercial real estate. Now it is applicable to all operating businesses in Michigan, and commercial and industrial loans irrespective of whether real estate collateral is involved.

A new amendment was recently enacted in Michigan which expands the scope of receivership proceedings, which are a liquidation alternative to bankruptcy. Previously, the receivership statute in Michigan applied only to receiverships over commercial real estate. Now it is applicable to all operating businesses in Michigan, and commercial and industrial loans irrespective of whether real estate collateral is involved.

If you are struggling with debt that you cannot repay, you should look closely into filing bankruptcy. Financial problems and debts are often caused by sudden unemployment, divorce, or emergency medical expenses that you have to pay off.  If you are tired of receiving unending creditor notices and calls from individual debt collectors, collection agencies, or credit card companies, consult with reliable bankruptcy attorneys. Aside from helping you understand the essentials of bankruptcy law, they can explain to you how to rebuild and have a fresh start through the bankruptcy process.

CFPB Charges Performance SLC and Performance Settlement, Daniel Crenshaw, with Using Deceptive Tactics

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