Detroit Bankruptcy Lawyers Serving Macomb, Oakland, and Wayne Counties

Ever since Congress pass the mis-named Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) in 2005, every consumer filer for bankruptcy has to take a Credit Counseling course within 180 days before filing their case and every filer desiring a discharge of their debts must take a debtor education course after their case is filed and before they receive their discharge.

This is a common question asked of us all the time. The answer is simple: There is no minimum amount you need to file bankruptcy. Theoretically, if you have only $1.00 in debt, you can file. Of course, you would never do this on only $1.00 in debt.

The age old question that gets put to any bankruptcy attorney. The reasons for this question are endless, but most of the time it is because one spouse does not want the other spouse to know they are filing bankruptcy, or they want to protect the other spouses credit rating. Whatever you reason for this question, the short answer is no, your spouse does not have to file bankruptcy if you are. There is nothing in the bankruptcy code that requires married couples to file jointly. Of course it may be a really bad idea to leave your spouse out.

For some reason, this is the most common question I get asked in the consultation. In the grand scheme of things, this is should be a minor or non-existent question as the purpose of bankruptcy is to get a fresh financial start in life, and not worrying about what other people may think.

Reaffirmation agreements are standard in bankruptcy. But before I can explain if you should sign a reaffirmation agreement, we need to understand exactly what a reaffirmation agreement is. A reaffirmation agreement is a contract created by your secured creditor for you to agree to continue making your regular payments on your debt.

You have probably heard the terms “Unsecured’ and Secured” debt come up many times in your search about bankruptcy and probably wondered what those terms mean. You are not alone, as many of our clients are not sure what they mean or what they are. Once you read this post, you will realize you knew what those terms were all along.

This is a very common question we get asked all the time during our consultations, and we see plenty of people with high medical bills. So you are not alone. In fact, one Harvard researcher has stated that everyone in this country is just one medical bill away from filing bankruptcy. This should come as no surprise with the state of the U.S. heath care system.

“I want to bankrupt this credit card, but I want to keep this one and keep paying on it”. This is one of the common statements I hear from my clients at their free consultation. First off, the terminology is wrong. You are bankrupt. You can’t bankrupt a debt. In addition, the law presumes you to be bankrupt 90 days prior to your filing. That means, you don’t wake up one morning and say “oh, I’m bankrupt”.