The Necessity of Bankruptcy
Chapter 7 bankruptcy can eliminate most debts, including credit card debt, bank loans, medical bills, pay-day loans, and old utility bills.
The Benefits of Bankruptcy
Bankruptcy can provide a fresh start by eliminating the legal requirement to pay debts and stopping creditors from harassing you.
The Intricacies of Bankruptcy
Bankruptcy law protects you and many of your possessions. At Adler Law Firm PLLC, we will help you understand all the ways the law protects you.
The Process of Bankruptcy
How much debt do you currently have?
Your Bankruptcy Lawyer in Detroit, MI
When it comes to financial trouble, choosing a bankruptcy lawyer with the knowledge and experience necessary to make a difference in your future is the first step on a road to positive change.
At our Bankruptcy Law Firm, Adler Law Firm PLLC, we understand that filing for bankruptcy can be a very stressful and daunting experience for you. That’s why we try to make filing for bankruptcy as easy and quick as possible at a very affordable rate. You can be sure that as soon as you speak with our bankruptcy lawyer, you will know that you are in good hands and you can put that stress behind you for good. Filing for bankruptcy can give you the fresh start that you need.
When you choose to work with Adler Law firm PLLC, you will be represented by an experienced and competent Detroit bankruptcy lawyer who will hold your hand throughout the entire process. From start to finish, you will work with a partner from our team. We are dependable, equipped, and highly qualified.
What is bankruptcy?
Simply put, bankruptcy provides the opportunity to relinquish the shackles of debt while treating creditors in a fair manner. Once complete, the person filing for bankruptcy will in a sense be offered a “fresh start.”
Generally, bankruptcy comes in two forms: liquidation or reorganization.
Chapter 7 bankruptcy (liquidation) – In exchange for wiping out qualifying debt, in chapter 7 bankruptcy you must agree that the trustee can take and liquidate (sell) property to pay back the debt.
Chapter 13 bankruptcy (reorganization) – Usually for higher-income earning individuals, Chapter 13 bankruptcy reorganizes debt. This means that you can keep all of your property, but you must pay creditors the value of any nonexempt assets as part of a three-five-year Chapter 13 payment plan.
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