Chapter 7 Bankruptcy in Michigan

You’re probably here because you’re either thinking about filing for Chapter 7 bankruptcy by yourself or because you’re looking for a Chapter 7 attorney. Either way, we’re sure that we can help.  Feel free to use the chat popup at the bottom of this page to ask us questions. If we’re offline you can still leave us a message or fill out our contact form. We offer free consultations because we WANT to answer all the questions you have about filing for Chapter 7 bankruptcy in Detroit.

What is Chapter 7 Bankruptcy?Chapter 7 Bankruptcy in Michigan

Chapter 7 Bankruptcy is the most common form of bankruptcy which allows individuals to get a fresh start by discharging (or eliminating) unsecured debt.  Chapter 7 allows individuals to keep their property while removing burdensome obligations.

Am I eligible to file a Chapter 7 Bankruptcy?

In order to qualify for Chapter 7 Bankruptcy, you will be required to take a means test. The test will compare your income and expenses to determine your monthly disposable income. If your disposable income is less than an amount specified by the code, you are eligible. If your disposable income is too high, you may consider filing a Chapter 13 Bankruptcy.

How does Chapter 7 Bankruptcy Work?

A Chapter 7 Bankruptcy begins when your bankruptcy petition and schedules are filed. An experienced Michigan Bankruptcy attorney at Detroit Lawyers will guide you through the process to ensure your compliance with the Bankruptcy Code. Approximately 21 to 40 days after your petition is filed, you will be required to attend a Section 341 Meeting of Creditors, where the Chapter 7  Trustee will review your petition and schedules with you and your attorney. Approximately three months after your case is filed, you will receive a discharge and the court will subsequently issue a final decree.

What debts are discharged in Chapter 7?

Chapter 7 Bankruptcy will discharge any unsecured debt unless the code explicitly provides that the debt is not dischargeable. These non-dischargeable debts include: student loans, child and spousal support, and certain taxes and fines.

For more information on the protections available under Chapter 7 Bankruptcy, schedule a FREE CONSULTATION with Detroit Lawyers.