How the Bankruptcy Process Begins and Ends
The process of filing for bankruptcy in Michigan is slightly different for every individual or family, and some of the details depend on whether you file Chapter 7 or Chapter 13 bankruptcy. However, much of the process is the same in every case.
At your first meeting with bankruptcy attorney Edward Shaw of The Shaw Group, P.C., you will receive full information about the bankruptcy process and every step you must take to complete a bankruptcy petition and have your debts discharged or restructured.
Bankruptcy can be a smart way to respond to financial problems, if you have an experienced guide through the process. Contact us today to schedule a free consultation at one of our four Michigan offices: Ann Arbor, Novi, Livonia or Plymouth.
Filing the Bankruptcy Petition
We will ask you to bring several different financial documents to the initial client meeting, including tax records, pay stubs, credit card statements, medical bills, and other evidence of debts, income and assets.
As soon as we have a complete picture of your financial circumstances, we will advise you whether to file for Chapter 7 or Chapter 13 bankruptcy. Then we will complete the petition on your behalf. Before we can file the petition with the court, you must attend a mandatory credit counseling session. We can refer you to agencies that are accredited by the local bankruptcy court.
The Creditors' Meeting or Plan Confirmation Hearing
A person who files bankruptcy usually has very limited involvement with the process. Often, a Chapter 7 filer does not have to appear in court at all. A Chapter 13 filer may only need to appear in court at a hearing to confirm the proposed debt repayment plan.
The only formal meeting usually required of a bankruptcy filer is the creditors' meeting, which is not held in a courtroom but in the offices of the U.S. Trustee. The creditors' meeting is sometimes called a 341 meeting, because section 341 of the U.S. Bankruptcy code requires the bankruptcy filer to attend this meeting and answer creditors' questions about debts and property. Your lawyer will help you prepare for this meeting and will attend with you.
Final Debt Counseling Session
Before you can complete the bankruptcy process, the bankruptcy laws require you to attend one more debt counseling session. After you complete that requirement, your eligible debts will be discharged if you filed under Chapter 7, or you will begin repaying your debts according to the new repayment plan if you filed under Chapter 13.
Get Help Now - Contact The Shaw Group Today
Our law firm offers reasonable rates and personal service from a veteran bankruptcy attorney. We have four offices for our clients' convenience: in Ann Arbor, Novi, Livonia and Plymouth.
Contact us online or call toll free at 888-608-6599 to make an appointment.
