Bankruptcy Attorneys Ann Arbor
Acclaim Legal Services serves Washtenaw County and the surrounding areas by providing expert legal advice on bankruptcy, debt resolution and credit restoration. With difficult economic times in Michigan, many are finding themselves in the unexpected position of considering bankruptcy to resolve mounting debt or a home foreclosure.
We are here to help. Our Ann Arbor law firm exclusively practices bankruptcy law and debt resolution to ensure that our clients get our full attention and the best customer service.
The majority of our new cases come as referrals from our satisfied clients. Please visit our “testimonials” page to read their feedback.
We offer free, confidential consultations to discuss your financial circumstances and long term goals. Call us today at 734-369-9888 to discuss your circumstances with a licensed Ann Arbor Bankruptcy Attorney.
Chapter 13 Attorney Ann Arbor
Chapter 13 is a court authorized debt consolidation plan. The plan not only allows you to reorganize your debts, but it also provides court protection from your creditors. This protection can:
- Stop home foreclosure: Set up repayment terms or eliminate further debt and worry if you choose to walk away.
- Remove a second mortgage(s) or home equity loan(s) therefore reducing the total debt owed on your home.
- Prevent vehicle repossession or allow you to get the vehicle back before it is sold at auction.
- Resolve IRS tax debts with favorable terms.
- Consolidate and likely eliminate a portion of your unsecured debts including credit cards, medical bills, personal loans, judgments, loan deficiency debt, etc. All unsecured creditors are paid back at 0% interest.
The Chapter 13 plan also has a built-in function to protect and begin restoring your credit. Most people are surprised to learn that filing for bankruptcy could have a positive effect on their credit. Here is why; your credit is most influenced by your payment history to creditors and your leverage or debt-to-income ratio. Chapter 13 bankruptcy addresses both of these factors in the repayment plan:
- Positive payment history: Filing for Chapter 13 will restore consistent, timely payments to your creditors. This alone accounts for 35% of your credit score according to FICO. The program also stops negative reports to the credit bureaus.
- Improved Debt-to-Income ratio: The Chapter 13 plan focuses on paying down principal debt by offering repayment terms to unsecured creditors at 0% interest. Each month you pay, the money goes straight to the bottom line to pay down the principal debt. This improves your leverage and reduces your debt-to-income ratio, which accounts for another 30% of your credit score.
Understanding your options and deciding what is best for your circumstances and financial future can feel overwhelming. Let our Ann Arbor attorneys help. We offer free, confidential consultations to discuss your situation and future goals. At that meeting, we thoroughly explain all of your available options and advise you the best course of action to meet your long-term goals. Don’t hesitate, call us today at 734-369-9888 to speak to an attorney or set up an in-office consultation.
Filing Chapter 7 Debt Elimination
Often debt can feel like a crushing weight. Filing for Chapter 7 can quickly remove this burden and allow you to make a fresh financial start. Once your case is filed, you have immediate protection and relief from:
- Creditor actions and harassing creditor calls
- Judgments and garnishments
- Utility shut-offs
- Eliminate all general unsecured debt obligations such as credit cards, medical bills, judgments, past due utility bills, certain older tax debts, overpayment of government benefits, personal loans or deficiency debt.
- Remove further debt obligation or hassle after a home foreclosure.
Call us to investigate your options for gaining total debt relief. Resolving your debts means less stress and leads to financial peace of mind.
Bankrutptcy Attorney Ann Arbor, Let Us Earn Your Trust
Our motto is: do one thing and do it best! This is why our only goal is debt resolution.
Call us today to explore your options for filing for a Chapter 13 reorganization plan or Chapter 7 fresh start program in Ann Arbor. We will take the time to review your circumstances and provide an honest assessment of your best options for long-term financial health. Call us today at 734-369-9888 or click to set up a time for a free consultation.