Experienced Bankruptcy Lawyers Can Help

At Gudeman & Associates, P.C., our bankruptcy attorneys have helped many clients find their way through turbulent times to a brighter financial future. We are proud to help individuals, families and businesses understand their options for debt relief so they can embrace a fresh start.

Affordable And Effective Bankruptcy Solutions

Feeling hopeless in the face of overwhelming debt? Have you fallen behind on your mortgage payments as you struggle to keep up with creditor demands? Maybe you’re nervous about bankruptcy. We can ease that fear. The team at Gudeman & Associates, P.C., wants you to know that you have several options and bankruptcy is an important tool for people just like you so that you can get back on your feet and ease the financial anxiety. With decades of experience behind us, we can explain those options so that you can make the best-informed decision possible.

We have helped clients overcome debt and other financial challenges using a wide range of tools. We draw on more than 100 years of shared experience to:

• Stop creditor harassment
• Stop foreclosure
• Improve your credit
• Stop repossession
• Help with child support
• Stop lawsuits
• Help with student loans
• Stop payday loans
• Stop tax levies and wage garnishments
• Help with past due taxes

We are proud of our reputation as one of Southeast Michigan’s highly trusted bankruptcy firms. Let us put our experience to work for you: CALL NOW at 248-630-3671.

Handling All Aspects Of Bankruptcy In Southeastern Michigan

If you are facing crippling debt, aggressive creditors, or foreclosure, filing for bankruptcy may offer the debt relief solution you’re looking for. While not without certain consequences, bankruptcy can help you find a fresh financial start. At Gudeman & Associates, P.C., we assist clients with all aspects of bankruptcy, from Chapter 7 to Chapter 13 to emergency filing and more. With more than 100 years of combined experience our bankruptcy attorneys can help you understand your legal options when faced with insurmountable debt. We believe that the more information you have, the better decisions you can make. That’s why we make it our mission to provide you with as much information as possible as we guide you through the bankruptcy process.

Keeping Your Home – Stopping Foreclosure And Evictions

Many people have fallen behind on their mortgage and rent payments during these rough economic times. If you are facing foreclosure or eviction we can stop a foreclosure or eviction and get you back on track so that you can keep that roof over your family’s heads. Watch our short video and then call our bankruptcy lawyer in Michigan.

Consumer Bankruptcy With Chapters 7,11 and 13

With a Chapter 7 filing, we can discharge most debts such as credit card, medical and, in some cases, old tax debts. The filing of a bankruptcy case immediately stops the creditor calls, lawsuits, garnishments, and even halts foreclosures and evictions for a period of time – giving you the breathing space you need.

The entire Chapter 7 bankruptcy is the most common form of bankruptcy, and it takes about four to six months to complete the entire process. Chapter 7 may require a trip to the courthouse, and the “Credit Counseling and Debtor Education” must also be completed with an approved agency. Because of the law contained in Chapter 7 of the Title 11 Bankruptcy Code, it is also referred to as a “straight” or “liquidation” bankruptcy. In a Chapter 7 bankruptcy, a Trustee cancels many or all of the debts, and they may also sell or liquidate some property in order to repay creditors. To help you explore the best possible options and outcomes for your circumstance, Gudeman & Associates, P.C., will partner with you and help you through every part of the process.

Chapter 11 provides a plan and reorganization process, and it is a chapter of the Title 11 Bankruptcy Code. Chapter 11 is available to every business and private individual, and it provides the debtor with a number of mechanisms to restructure their personal assets or business. Depending on the size and complexity of the bankruptcy, the reorganization of the debtor’s business or personal assets and debts provides an opportunity for the debtor to come out from a Chapter 11 bankruptcy within a few months to several years. To help you or your business attain the best possible outcome for your specific situation, Gudeman can help you create a successful, long-term financial plan.

Chapter 13 – Save Your Home, Car And Assets

Chapter 7 does not allow you to catch up on home and car payments. That’s where Chapter 13 comes in. We use Chapter 13 to reorganize those debts with a payment plan of up to five years to get caught up, all while paying some portion of your unsecured debts (credit cards, medical bills) with the unpaid balance discharged at the end of the case. Chapter 13 is also used if your income is too high to qualify for the Chapter 7 “means test.” Our bankruptcy attorneys in Michigan helped our clients navigate the Chapter 13 process in some of the most difficult cases, getting them through to the end.

Chapter 13 of the Title 11 Bankruptcy Code may be viewed as a form of debt consolidation, and it may take about three to five years to complete. Unlike Chapter 7 which may provide a discharge of certain debt and the possibility of liquidation of property, Chapter 13 provides an opportunity to an individual to propose a plan of reorganization to the court where the financial situation can be restructured under the protection of the bankruptcy court. Gudeman & Associates, P.C., can help you create a successful bankruptcy plan to help you achieve the best possible outcome for your circumstance.

Student Loans

If you are struggling with student loan debt or if your debt has gone to collections, turn to our tried-and-true, proven professionals who have successfully assisted thousands of clients with student loan debt. Student loans and educational loans are a form of unsecured debt, meaning there are no assets or properties serving as collateral for the payment of the debt. Student loans can be subsidized, insured or guaranteed by either a governmental, non-profit or private institution.

Overall, student loans are unsecured debts incurred for higher education purposes. If you become significantly delinquent on student loan debt, the original company owed may write-off the debt as a loss and sell it to a collection agency. A collection agency, also known as a debt collector, is a business or another entity that specializes in debt collection. Collection agencies are one of the most complained about businesses, according to the Federal Trade Commission and the Consumer Financial Protection Bureau. Some collection agencies may resort to using scare tactics and harassment, such as calling you at work and texting your personal phone. Furthermore, they may charge interest on your debts, which only adds to the already existent debt. When filing for bankruptcy, the consumer must demonstrate that the student loans present a current and future undue hardship on them and/or their dependents. Due to new federal laws and guidelines, it has become more challenging to eliminate student loan debt completely when filing for bankruptcy. However, including student loan debt in a bankruptcy is not impossible.

Trusted And Experienced Bankruptcy Lawyers

We have filed Chapter 7 and Chapter 13 for thousands of clients – from the simple case, to the difficult and complex. When you work with our skilled team, you will always be treated with respect and given the personalized attention you deserve. With over 100 years of combined experience, our attorneys truly understand the ins and outs of bankruptcy and use the law to forge innovative solutions to our client’s problems. Let our team of bankruptcy attorneys in Royal Oak, Michigan help you stop foreclosures, stop garnishments, stop the harassment, and help you find financial freedom.

During your no-obligation consultation, we will take the time to understand your unique goals and explain your options for reaching them. Please contact us to learn more by sending an email or calling our Royal Oak office at 248-630-3671.

Business Debt Relief Options

Assignment For The Benefit Of Creditors

For a business in financial trouble, the Assignment for the Benefit of Creditors, also known as an ABC, is an alternative to filing for bankruptcy. An ABC is not an actual bankruptcy because it is governed by local, state law instead of federal bankruptcy law. An ABC is a contract where the insolvent entity or the Assignor transfers legal and equitable title, as well as custody and control of its property into a trust, a legal agreement between three parties. In an ABC, the third party or Assignee is responsible for managing the business, the property and the business assets to apply the proceeds of sale to the Assignor’s creditors. To see if an ABC is a viable option for you and your business instead of filing for bankruptcy, Gudeman & Associates, P.C., can help you find the best possible options and outcomes for your specific situation.

Business Bankruptcy With Chapters 7 And 11

In a Chapter 7 bankruptcy, a trustee cancels many or all of the debts, and they may also sell or liquidate some property in order to repay creditors. Because of the law contained in Chapter 7 of the Title 11 Bankruptcy Code, it is also referred to as a “straight” or “liquidation” bankruptcy, and it is the most common form of bankruptcy. A Chapter 7 filing is when a business ceases operations unless the operations are continued by a Chapter 7 trustee. A Chapter 7 trustee is appointed nearly immediately, and they have the power to examine the business’s financial affairs, liquidate assets and distribute the proceeds to creditors. Depending on the size and complexity of the bankruptcy, employees may or may not lose their jobs. To help you explore the best possible options and outcomes for your business, our attorneys at Gudeman & Associates, P.C., will partner with you and help you through every part of the process.

Chapter 11 provides a plan and reorganization process, and it is available to every form of business entity including a corporation, partnership or sole proprietorship. Chapter 11 of the Title 11 Bankruptcy Code provides the debtor with a number of mechanisms to restructure their business or personal assets and debts. Unlike Chapter 7 bankruptcy, the debtor remains in control of their business operations as a debtor in possession, and they are subject to the oversight and jurisdiction of the court in most instances of filing a Chapter 11. Depending on the size and complexity of the bankruptcy, the reorganization of the debtor’s business or personal assets and debts provides an opportunity for the debtor to come out from a Chapter 11 bankruptcy within a few months to several years. To help you or your business attain the best possible outcome for your specific situation, we can help you create a successful, long-term financial plan.

Free 30-minute Consultation

If you are besieged with student loan debt and you’re being contacted by a collection agency, you need to speak with an experienced lawyer. For over 45 years, Gudeman & Associates, P.C., has used our attorneys’ experience and knowledge of laws to ensure you are fully protected. We can be your advocate, help you regain control, and stop the harassment from the collection agencies immediately. Call us now at 248-630-3671.

Frequently Asked Questions About Bankruptcy

Bankruptcy law can be confusing and complex, especially if you are reading information from articles or questionable online sources. If you are considering filing for bankruptcy or another form of debt relief, it is essential that you speak with a bankruptcy lawyer at Gudeman & Associates, P.C. who is knowledgeable and caring.

Can bankruptcy solve financial problems?

YES! Gudeman & Associates can help you, TODAY! We’ve been fighting for you and working families in the Metro Detroit area for over 12 years. We know the level of pain that so many of our clients experienced before seeking our help. Almost 10,000 clients have found a way to get over their fears about bankruptcy and a way to a new beginning with us. We want to help you get that new beginning, starting today.

Can bankruptcy stop creditor harassment?

YES! Many creditors and their collection agencies use scare tactics and harassment. Some are downright abusive. Creditors don’t have your best interests at heart. They do not care about you, whatsoever. Their job is just to get the money that you owe. They have no interest in getting you through the tough times that you may be experiencing. They only want money! Giving them money is the only thing that will stop them from calling you every day and perhaps sending you dunning collection letters.

Can filing bankruptcy help with past due taxes?

YES! The answer is that if you owe Federal, state, or local taxes and you are also behind in other payments to creditors, Federal Laws can provide assistance. The U.S. Bankruptcy Code allows you to stop the collection efforts of the federal government, State of Michigan, and local governments in their tracks! Many times, the biggest pressure on you is a garnishment by the IRS or State of Michigan Department of Treasury. That garnishment may be taking out of your wages and away from your family money that you currently need to take care of you and your family. Filing bankruptcy stops tax garnishments!

Can I get my credit back after filing bankruptcy?

At Gudeman & Associates, we know that your bankruptcy is only part of your concern: you also want to get back to a normal life. This includes rebuilding your credit score as fast as possible. For years, we have been meeting with clients who are terrified about the future. How will you survive in a world that will judge you based on your credit score? You need credit to rent an apartment, buy a car. In fact, more and more, employers are running credit checks on potential employees. We listened to your concerns and then we found answers.

Can bankruptcy save my home from foreclosure?

If you have gotten behind on your mortgage payments, you may be facing foreclosure. Fortunately, when you file for bankruptcy, you are awarded foreclosure protection through the automatic stay. From there, you will either enter into a payment plan of Chapter 13 or discharge debt through Chapter 7. Please note that Chapter 7 only allows for a temporary foreclosure stay.

What types of debt are dischargeable?

In bankruptcy, certain types of debts are dischargeable while others are not. For example, unsecured debt like medical bills or credit card debt can typically be discharged entirely or partially. Secured debt or amounts owed to child support cannot be discharged and you will be expected to keep making payments.

What types of bankruptcy are available to me?

There are two main types of bankruptcy which are appropriate for individuals: Chapter 13 and Chapter 7. There is also the lesser known Chapter 11, which is primarily used for businesses, and Chapter 12, which is focused on farmers and fishermen. In Chapter 13, your debts are rearranged and often reduced so you can make feasible payments. Chapter 7 allows you to give up non-exempt property in exchange for discharging your debt.

Why hire a bankruptcy lawyer?

At Gudeman & Associates, P.C., we are committed to providing our clients with useful information and resources. Having a lawyer by your side to guide you through the bankruptcy process is invaluable and can lead to a positive outcome for your case.

No-Obligation Consultation