Bankruptcy Attorney Detroit
We understand that choosing a Detroit bankruptcy attorney to help you resolve your debt is a big decision. That is where experience counts and past client success matters. Acclaim Legal Services was founded in 2003 with the exclusive mission to help Detroit area families find last debt relief and resolution. Since then we have helped over 11,000 metro Detroit families find the path to financial peace-of-mind through debt elimination or debt consolidation.
Call us today at 313-324-8763 for a free consultation over the phone or at our office located downtown Detroit in the same building as the U.S. Bankruptcy Court. At that consultation, one of our Detroit bankruptcy lawyers will sit down with you to carefully review your finances and understand your long term goals. At that meeting, the attorney will:
- Discuss all of your available options for debt relief;
- Answer any questions you may have;
- Provide detailed advice for best program for your specific needs;
- If that is a program we can help you with, then the attorney will provide a firm price quote to get you through the process to debt resolution.
Chapter 13 Attorney Detroit
Chapter 13 bankruptcy is a simply a court-authorized debt consolidation plan. By filing Chapter 13 in Detroit you will get immediate court protection from your creditors, including stopping:
- Home Foreclosure;
- Vehicle Repossession;
- IRS Tax Levy;
- Utility Shut-offs;
- Judgment or Garnishments;
- Harassing Creditor Calls, etc.
Gaining this legal protection takes a lot of stress out of your financial life and gives you peace of mind that your property is safe, secure and protected.
In addition to this court protection, the Chapter 13 bankruptcy plan also allows you unique ways to modify your debts, such as:
- Defer unsecured debts while you become current on secured debts, payback these unsecured debts at 0% interest and you are only required to pay back what you can afford over the span of the 36 – 60 month program. At the completion, you will receive a court discharge legally releasing you for any remaining balances on:
- Credit Cards;
- Medical Bills;
- Personal loans;
- Old Utility Bills;
- Loan deficiency debt;
- Older IRS tax debts;
- Surrendered property.
- Remove a second mortgage or home equity loan(s).
- Lower your vehicle payment by:
- Reducing the interest rate;
- Extending the terms of the contract;
- Decreasing the balance of what you owe if you have owned the vehicle for over 2.5 years.
- Reasonable repayment terms for current IRS tax debts.
- One important difference between filing bankruptcy in Detroit vs. other debt management programs is the fact that creditors are forced to comply with the basic terms outlined above versus trying to negotiate individually with each creditor.
As you can see, the Chapter 13 Plan provides many benefits to your budget. In addition, the program is designed to help you improve your credit throughout the course of the program. The majority (65%) of your credit score is influenced by your debt-to-income ratio and your recent payment history. By filing Chapter 13 bankruptcy, you will:
- Eliminate any late reports to the credit reporting agencies;
- Restore timely payments to your creditors through the structure of the Chapter 13 plan payments and;
- Work to immediately pay down principal debt each month, therefore improving your debt-to-income ratio.
Call our Detroit Chapter 13 attorney today to talk about your options for achieving debt relief.
Filing Chapter 7 Bankruptcy in Detroit
Chapter 7 basically wipes the credit slate clean to allow you to make a fresh financial start. It is intended to bring swift debt relief and court protection for those struggling with unsecured debts they cannot afford to pay back.
By filing Chapter 7, you will legally eliminate all general unsecured debt obligations listed in the section above. The process typically takes about 3 -5 months to complete to a court discharge. However you are protected from creditor actions the day you file and our firm proudly offers same day legal protection at our Detroit bankruptcy law office.
Trust our Detroit Bankruptcy Lawyers
With over 50 years of combined legal experience resolving debt and improving credit, you can trust our advice and judgment. In addition, Acclaim Legal Services offers:
- Board Certified Attorney;
- A+ Rating with the Better Business Bureau;
- Client reviews and testimonials of our customer service and the bankruptcy process;
- Community ties in Detroit speaking at Bankruptcy forums, participation at various HUD counselor events and a seat the United Way’s Michigan Foreclosure Task Force: Foreclosure Prevention & Stabilization Collaborative.
Call today at 313-324-8763 for a free consult or to schedule an appointment at our Detroit office. We look forward to earning your trust.