Madison Heights Unsecured Debts Lawyer
It can be pretty confusing trying to determine what is what in the world of bankruptcy when you don’t have the guidance of an experienced attorney. At Hensel Law Office, PLLC I help my clients understand the systems, laws and processes that affect them. Contact my Madison Heights or Brighton, Michigan office today to schedule a free initial consultation. Call me toll-free at 877-232-9161.
What is Unsecured Debt?
Unsecured debt is money that has been borrowed and is not tied to or secured against property (collateral). Common types of unsecured debt include:
- Credit card debt
- Medical bills
- Store credit cards or lines of credit
Filing for Chapter 7 involves a discharge of unsecured debt. There are however some types of unsecured debt that cannot be discharged. Student loans for example cannot be discharged (except in the rarest of circumstances). Chapter 13 bankruptcy allows you to repay all or a portion of your unsecured debt based on ability to pay.
What Debt Cannot Be Eliminated?
In addition to student loans, certain tax debts and domestic support obligations are also non-dischargeable. Since certain debts cannot be discharged it is important to have an attorney who knows how to negotiate with creditors. As a bankruptcy attorney in Madison Heights, I have considerable experience helping clients establish reasonable payments of debt that is not liquidated through straight (Chapter 7) bankruptcy.
Know your rights when you are caught up 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 the possibility of having your unsecured debt either liquidated or reorganized. Call 877-232-9161 to learn more.
