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Bankruptcy Process in Michigan
Filing Bankruptcy in Michigan
Once the necessary paperwork is filed with the court, you are entered into the bankruptcy process. The first step for both a Chapter 7 and a Chapter 13 bankruptcy is to provide the required documentation to the Trustee’s office (copies of tax returns, copies of pay stubs, etc.)
We provide full service care for each of our cases. Call us today toll free at 866-261-8282 to speak to one of our licensed bankruptcy attorneys to discuss your options for filing Chapter 7 or Chapter 13 debt consolidation plan. We offer free consultations where we will provide a comprehensive analysis of your finances at one of our six offices located in Detroit, Ann Arbor, Dearborn, Southfield, Flint or Warren, Michigan.
Bankruptcy 341 Meeting of creditors
Once the Court accepts your bankruptcy petition, it notifies your creditors, advises them of your filing, and gives them the date and time of the meeting of creditors. Any creditors who wish to question you about the debts or assets involved in this bankruptcy may do so at this meeting. Should a creditor object to your bankruptcy filing, they must do so within a certain period of time after this meeting.
Under a Chapter 7, their objection may result in bankruptcy litigation. However, this rarely happens and typically this informal hearing is the only appearance you will need to make.
With the Chapter 13 filing, there is typically a second hearing for plan confirmation. In many cases, our experienced attorneys can get your bankruptcy repayment plan pre-approved by the court to avoid a second hearing.
The 341 First Meeting of Creditors hearing and most confirmation hearings are held by the court-appointed Trustee and are fairly informal hearings. Infrequently are matters brought before a bankruptcy judge.
Debt Discharge and Completion Timeline in Michigan
The completion timelines vary between a Chapter 7 and a Chapter 13.
The Chapter 7 process typically completes to discharge within 3-5 months of filing. Here is a breakdown of the timeline after the case is filed with the court:
- Within 30 – 45 days: 341 First Meeting of Creditors is held
- Complete the “Debtor Education” Course within 45 days after hearing
- Within 60 – 90 of the 341 days: Receive discharge of debts from the court.
The Chapter 13 process completes within 36 – 60 months after the plan is confirmed with the court. Here a breakdown of the process after the Chapter 13 plan is filed with the court:
- Within 30 – 45 days: 341 First Meeting of Creditors is held
- Within 30-45 days after 341 Hearing: Confirmation Hearing is held to approve the repayment plan
- 36 – 60 months: Repayment plan is in effect
- After plan payments are concluded, the “Debtor Education” Course must be completed before a court discharge is granted.
Bankruptcy Litigation and Adversary Proceedings
The Rules of Bankruptcy Procedure governs any bankruptcy litigation between a creditor and a debtor. Such cases move very quickly and occasionally even summarily. While it is possible to file for bankruptcy without the services of a lawyer, the chance of such litigation is a sufficient reason to retain expert bankruptcy attorneys. These cases and appearances require a firm, confident approach that only a seasoned attorney can provide.
We offer free in-office or phone consultations to review your personal circumstances, analyze your situation and advise you on the best course of action. We specialize in bankruptcy law, debt resolution, foreclosure prevention and credit repair. We have offices in Detroit, Southfield, Dearborn, Flint, Ann Arbor and Warren, Michigan. Please call us toll free at 866-261-8282 or click here to schedule a consultation right now.
When I started at Acclaim they were every helpful in explaining the things i need to know an what all the paper work i needed to get together.. As i went through all the process on my Chapter 13 bankruptcy they kept me informed of all i need to do and to get for them. If i ever had a question they…
THANK YOU THANK YOU THANK YOU for all the work your firm did for us. We were at wits end with all the collection calls, until one of my wifes co-workers recommended ALS. Since that day 5yrs ago we have had the pressure removed. We were treated with the utmost courtesy and professionalism. The…
I have to take the time to say ,Thank You, to everyone involved in my case. Firstly to Francesca, whom I met day one. She is very good at what she does. Very courteous, kind and understanding. I had no idea what I was in for, she made sure I understood everything! It was plain for me to see this Attorney…
I wanted to take the time to commend attorney Chris Jones for the exceptional job he did in advocating for me during my case. This has been a long journey and his efforts, professionalism, and tenacity enabled me to finally receive a favorable judgment. Although I realize this is the beginning of…