A Helping Hand For Michigan Families
Over 120 years of combined legal experience advocating debt resolution for our clients.
We look forward to earning your trust.
This is not a good presumption. While many Credit Counseling Agencies have established relationships and terms with credit card companies to set up repayment plans, they have no legal authority to bind creditors to these terms or force them to agree or even continue with the plan once it is established. At any time, a creditor can decide to opt out of the payment plan and sue you or get a wage garnishment, likely derailing the entire budget plan.
Chapter 13 provides unique advantages:
- All unsecured creditors (Credit cards, medical bills, qualified second mortgage(s) or home equity loan(s), personal loans, older tax debt, loan deficiency debt, etc.) are forced to comply with the terms of the confirmed Chapter 13 plan. They are all paid back at 0% interest and often paid at a reduced rates. The balance of these debts (whatever you cannot afford to pay back) are legally eliminated at the completion of the Chapter 13 process with a court discharge.
- As soon as you file and for the duration of the program you have court protection from your creditors. This means no phone calls, protection from foreclosure, vehicle repossession, garnishment, etc.
- Court oversight of the repayment process and a court-appointed Trustee handling all monetary funds. This ensures that your money goes to pay your bills and that all fees are regulated…no scams. Creditors are required to file proof of what you owe, the terms of the debt, etc. This is called a “proof of claim” and allows all parties to inspect what the creditor states you owe. If your creditor(s) fail to file a proof of claim, the debt will be automatically discharged at the completion of the program even through you didn’t pay on the debt.
- Repayment spans 36 – 60 months. At the completion of that timeframe, whatever balances remain on your unsecured debts are legally eliminated through a court discharge.
- You have the unique ability to legally remove a second mortgage(s) or home equity loan(s) depending on home valuation.
- Credit restoration is a built-in aspect of the program as you are:
- Providing consistent, timely payments to your creditors and;
- Reducing your debt-to-income ratio through-out the program and at the completion of the program with discharge of remaining balances. There are no more penalties or late reports to the credit reporting agencies.
- These 2 factors influence 65% of your credit score!
We encourage our clients to explore all of their options. We offer a free comprehensive consultation to review your finances, discuss your options and develop a game plan. Call us today at 866-261-8282 to speak with a licensed attorney. You can then compare our services to other options such as Credit Counseling Debt Management programs. While we are confident Chapter 13 provides many superior benefits to other available plans, if we don’t feel that your circumstances are a good match for the bankruptcy options, we will let you know. Our goal is simply to help people find the best debt resolution option available to them.
Thank you for taking the time on Monday, to explain to me all the details of my case. I really learned a lot from our talk. There should be more people in the world like yourself to make time for others that don’t understand the legal/law side of business.
Thanks…
I would love to let you know about my experience with Kevin,Chris and Cindy. They gave my husband and I are life back. We have a list of life major hurdles. I can say without a doubt they were the only ones we could count on with truth and facts and promptness.…
Cindy from your office gave me your information for feedback about our case.
Today she sent us a copy of the courts discharge, so our immediate feeling is over joyed to be done with the process. At the beginning we had no idea what to expect, but everyone in your office took their time to…
When I started at Acclaim they were every helpful in explaining the things i need to know an what all the paper work i needed to get together. As i went through all the process on my Chapter 13 bankruptcy they kept me informed of all i need to do and to get for them. If…