Chapter 13, simply put, is a debt consolidation and reorganization plan that uses court oversight and Federal Law to provide protections and rights that may not be available in a typical debt management program.  The plan is specific to each person's individual situation and circumstances. This allows for flexibility in terms of proposed repayment terms and how…

How do you know if bankruptcy might be your best option for debt resolution?

Below are some typical questions we discuss with our clients at the initial free consultation to determine if they need our assistance with bankruptcy or a debt settlement solution.  If you feel you may need to speak with a professional,…

A Chapter 13 Bankruptcy, simply put, is a court authorized debt consolidation program.  Because the Chapter 13 program provides court protection, the plan offers many unique benefits over traditional debt management programs.  Below are some of the benefits of consolidating debt under a Chapter 13 Bankruptcy:

• Legal protection…

According to a recent study of more than 7 million American's by the Urban Institute, Michigan is ranked in the lowest  bracket nationally for average debt load - great news, right?

• Average debt load in Michigan per household is $43,377 vs. the highest state, Virginia, with an average debt load of $74,279 per household.

While it is wonderful…

The answer:  Yes & No!  Confused?  Read more about the specifics of how debts are treated in bankruptcy and the key differences between filing a Chapter 7 and Chapter 13 bankruptcy in Michigan. Also, our firm does offer a free consultation - over the phone or at one of our seven Michigan locations in:  Detroit, Ann Arbor, Dearborn, Flint, Warren, Lansing…

How are attorney fees handled in consumer bankruptcy cases in Michigan?

• In a Chapter 7 Bankruptcy, the attorney fees are paid directly to the retained attorney.  In a Chapter 13 Bankruptcy, most often the attorney's fees are paid through the Chapter 13 Trustee.
• The fees under a Chapter 7 Bankruptcy will also vary from…

A court discharge is issued in a Chapter 7 bankruptcy when you have met all of the following requirements:

• Completed pre-filing credit counseling. A Certificate of completion must be filed with the court with your filing documents;
• Filed petition and schedules;
• Provided supporting documents (i.e tax returns and paystubs) to the court appointed…

This may sound like a question with an obvious answer - you are bankrupt when you file for bankruptcy, right?  We don't think it is that simple.   It may depend on how you look at or define bankrupt vs. bankruptcy.  At Acclaim Legal Services, we view bankruptcy as a financial tool to consolidate or eliminate debt to bring finances into balance and find lasting debt resolution.   We believe that…

The Judicial Conference approved new filing fee increases that will become effective June 1, 2014. What does this mean?  After June 1^st, it will cost slightly more to file for bankruptcy protection. It is not too late to file before these fees increase.  We offer free consultations to discuss your bankruptcy and debt resolution options and we…

The issue of how parking tickets and driver responsibility fees (DRF) are treated in bankruptcy is an often discussed topic within bankruptcy circles and there are several variables to consider.  It is hotly debated because there is not a bankruptcy court ruling interpreting the exact nature of the driver's responsibility fees (DRF) in relation to the bankruptcy code.  

Driver Responsibility…