Chapter 13 Bankruptcy Lawyer – Michigan
Many people still see filing for bankruptcy as a negative step and feel it carries with it a stigma that can negatively affect your ability to reestablish good credit in the future. This is simply not the case. At Hensel Law Office, PLLC in Madison Heights, Michigan, I guide clients through the filing process and help them understand the benefits of filing for Chapter 13 protection.
To schedule a free initial consultation, contact me today. Call toll free: 877-232-9161.
Why Not to Reorganize Your Debt through Consolidation Companies
Television, radio and Internet advertisers promise financial relief through debt consolidation. They prey upon the myth that bankruptcy is a bad thing and offer an alternative to bankruptcy. This usually means a consolidation loan or a plan that calls for monthly payments that you cannot afford. But what they do not tell you is that you still have to pay interest on your debts, that your creditors are not bound by any terms to this consolidation unless they voluntarily agree, and that many people wind up in worse financial condition than they were before. Additionally, many of these so called service providers charge more than reputable bankruptcy attorneys.
Why Chapter 13 is Your Best Option
Filing for Chapter 13 still involves reorganization and repayment of all or a portion of your debt; however, it is a much safer option than relying on a debt consolidation company. With Chapter 13 you work with the bankruptcy court to devise a 3-5 year repayment schedule. What you pay is based on what you can afford. In addition, you are not charged interest throughout the repayment period and creditors cannot pursue you or threaten you with foreclosure or other collection actions. Perhaps best of all: creditors are bound to the terms set forth in the repayment plan accepted by the court.
As your attorney I will help guide you through the process of determining which type of filing is best for you. I have been instrumental in helping some of my clients find relief through Chapter 7 when they had been told they only qualified for Chapter 13. The bankruptcy laws use something called a “means test” to determine qualification for bankruptcy. I will walk you through this process and help you find a bankruptcy solution that meets your needs and goals.
Know your rights when you are in the grip of financial trouble. At Hensel Law Office, PLLC, no matter what your bankruptcy issue, it’s important to know you are not alone. Contact me today to schedule a free initial consultation to discuss filing for Chapter 13 bankruptcy protection. Call me toll-free at 877-232-9161.
