Beginning in January 2014, both Michigan and Federal foreclosures laws will change to add stronger protections for consumers facing foreclosure with aims to bring stronger lines of communication between borrowers and mortgage servicers.  We recently posted a page outlining the details of the new federal law (Dodd-Frank Act effective January 2014).  Changes will take place with Michigan Foreclosure…

One of the main talking points of health care reform and the Affordable Care Act, often referred to as "Obamacare," was that increasing healthcare coverage would prevent people from falling into bankruptcy due to medical bills they could not afford to pay.  Studies suggest that medical bills are the number one reason for filing bankruptcy, outpacing other common factors such as credit card bills…

Are you experiencing financial hardship, but uncertain if you would qualify to file for bankruptcy relief based on your income?  We can help!  Below is some general information regarding the types of bankruptcy relief and how income is considered for filing.  To get a free evaluation of your circumstances, call our office at 866-261-8282for…

Many homeowners seek a short sale if they are no longer able to maintain their mortgage payments or wish to step away from the property due to valuation issues.  In most cases, the homeowner needs to prove a financial hardship for the bank to engage in a short sale.  When the house is sold for an amount less than your mortgage, the remaining balance is known as "loan deficiency debt." The common…

According to Investopedia, your credit score is: "A statistically derived numeric expression of a person's creditworthiness that is used by lenders to access the likelihood that a person will repay his or her debts."  Unfortunately, many people look at their credit score as a mark of their self worth.  Here are some interesting facts that breakdown the different ways credit scoring agencies determine…

Unfortunately many Michigan families have seen a drop in their income due to a reduction in work hours or a decrease in their pay.  They may even be performing a job beneath their skill set due to a sluggish job market.  These circumstances are termed "underemployment".

The creation of many more part time jobs…

If you are experiencing difficulties with your monthly budget, be proactive in seeking resolutions before the situation worsens.  Sometimes there are unexpected circumstances that cause a budget to fall out of balance.  If these circumstances are short term (i.e. temporary lay off or short term medical issue), it is easier to employ basic tactics to bring your budget back into alignment.  If the…

If one or more of the below circumstances is true for you, it may be time to talk to a professional about the best option for you to resolve your debts.  You owe it to yourself to explore your options for a better financial future.  We offer free consultations to discuss Chapter 13 debt consolidation, Chapter 7 debt elimination or non-bankruptcy debt settlements.  Call us at 866-261-8282…

On June 27, 2013, Managing Attorney Chris Jones was a featured speaker at a Consumer Bankruptcy Association presentation in Royal Oak, Michigan.  He instructed both consumer and creditor bankruptcy attorneys about the changes made to the district's model Chapter 13 plan effective January 2013.  He covered such topics as handling debtors' income tax refunds and whether these funds are required to…

Our managing attorney, Christopher Jones, just received board certification as a Consumer Bankruptcy Specialist.  This is a demanding process that he completed with the American Board of Certification (ABC) over the past three years. ABC is a non-profit organization dedicated to serving the public and improving the quality of the bankruptcy bar.  The rigorous certification standards are designed…