Professional Guidance for Debt And Bankruptcy
If you are struggling with debt and considering filing for bankruptcy, our Warren, MI debt lawyer can help you. We know that facing debt and the prospect of bankruptcy can be a daunting and frightening prospect, but it is not one that you have to face alone. Our experienced debt lawyer can help you assess your options and move forward with the path that is best for you and your future. If this includes filing for bankruptcy, we can assist with navigating that process and ensuring that your best interests are protected. For more information on how we can assist you and to discuss your situation with a lawyer, schedule a consultation with our team at Gudeman & Associates, P.C. today.
Understanding Filing For Bankruptcy
Filing for bankruptcy may be the financial new beginning that you are looking for when facing debt. Our Michigan debt lawyer is experienced at helping clients determine the best path for them and then navigating this path with clarity. The most common forms of bankruptcy that people file for are Chapter 7, 11, and 13 bankruptcy. Our team can help you understand the different implications, requirements, and consequences of each type of bankruptcy as you look to make the most informed decisions for your future.
Chapter 7 bankruptcy exists to assist those who cannot pay their debts to creditors and wish to eliminate debts quickly. This process often takes three to four months and includes passing a means test in order to determine eligibility. Chapter 7 can help debtors eliminate credit card debt, medical debt, and more, and it does not include a payment plan. Consulting with our experienced Warren debt attorney can help you understand if you are eligible for Chapter 7 and if it is the right option for you.
Chapter 11 bankruptcy is often used by businesses in order to restructure their debts. Businesses are able to remain open under court supervision while undergoing the process of Chapter 11. Our debt lawyer will help you draft a reorganization plan that will be reviewed and approved by creditors in order for you to pay your debts on terms more favorable to your current circumstances.
Chapter 13 bankruptcy entails the repayment of debts through a payment plan, often over a period of three to five years. This may be a good option for people that have enough stable income to pay their debts across this extended period of time and can help you protect your assets if that is the case.
Whether Chapter 7, 11, or 13 bankruptcy, or some other method of debt relief is right for you, our lawyer can help you navigate the legal process as you work towards a better, more financially free future.
Receiving Legal Assistance With Debt
No matter the path that you set out on to alleviate debt, having an experienced debt lawyer by your side is crucial. Our team has valuable knowledge of the law regarding debt and the process of alleviating it as well as a plethora of experience assisting clients with their debt. We will fight hard to work towards a better future for you. Contact our team at Gudeman & Associates, P.C. today to discover how we can help you with your debt.
