Warren, Michigan Chapter 7 Bankruptcy Attorney

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Warren, Michigan Chapter 7 Bankruptcy AttorneyThere are many reasons that cause people to fall into financial distress. Divorce, job loss, a health crisis, or the death of a loved one, can leave you drowning in debt and feeling like there is no way out.

What you may not realize is that federal law can protect you. The Chapter 7 bankruptcy attorneys at Gudeman & Associates, P.C., in Warren, Michigan can assist qualified individuals with the following:

What is Chapter 7 bankruptcy?

Chapter 7 bankruptcy is the liquidation section of the bankruptcy code. Unlike Chapter 13 bankruptcy, with Chapter 7, you need not make payments on your debts. However, certain assets such as your home or your car might have to be sold off to go toward paying your debts. Restrictions will soon be tightened regarding who can file for Chapter 7 as opposed to Chapter 13. We will meet with you to review your financial situation, and help determine which type of bankruptcy, if any, is right for you. We can also help you begin to rebuild your credit score immediately – not after 7 years, as is commonly believed.

How to I stop harassment from debt collectors?

If you decide to file for Chapter 7 bankruptcy, the bankruptcy court imposes something called an “automatic stay” upon your creditors. From that time forward, your creditors can take no further action to collect their debts. Instead, creditors must participate in the bankruptcy court process. Even if filing for bankruptcy is not the right option for you, federal law puts real restrictions on how and when debt collectors can contact you. If you want to find out more about stopping harassment from debt collectors, please contact Gudeman & Associates, P.C. to speak with a lawyer today.