This year, 1.5 million people will file for bankruptcy. This is a serious situation that leads to major financial ramifications for several years. Therefore, there are a number of steps one should take in order to avoid these drastic financial steps. If you feel that you are falling behind financially, there are some important actions that you should avoid. These “financial traps’ could end up causing your more financial trouble that could lead to bankruptcy.

Although Bankruptcy may often times be the best solution to your financial troubles, it may not always be the first place you should look. Here’s a look at five steps that you can take before declaring bankruptcy.

The 6th circuit court issued an opinion last month finding that voluntary retirement contributions are acceptable budget items to include in a Chapter 13 repayment plan.

Acclaim Legal Services is pleased to announce that skilled bankruptcy attorney Michael T. Brown is joining our practice.

If you have been contemplating bankruptcy, now might be the right time to act in order to keep your recent stimulus check.

The CARES Act Foreclosure Moratorium expires Aug. 31, but there are still options to protect your home. Don’t delay and risk losing your home to foreclosure!

Quick answer: Yes! Unemployment income can be used to fund a new or existing Chapter 13 plan. At the time of this blog post many Michiganders are on furlough or dealing with temporary job loss due to the Covid-19 Coronavirus.

Last week President Trump directed the Department of Housing and Urban Development (HUD) to suspend foreclosures through April 2020 as Americans grapple with the fallout of the coronavirus.

If you are considering filing for Chapter 7 or Chapter 13 bankruptcy in Michigan, here are some important things to consider and steps necessary to prepare for your bankruptcy filing. Here is the list in chronological order.

Filing for bankruptcy is a big decision and one that most people try to avoid at all cost. While we understand the hesitation to take this legal step, we all too often see the downside of folks waiting too long to resolve their debts. How do you know if your circumstances and debt are significant enough to warrant a bankruptcy filing? Here are some tell-tale signs that you should contact a bankruptcy attorney to discuss a possible filing.