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Middleville Bankruptcy Lawyer

Bankruptcy desk name tag and gavel from court case with Middleville bankruptcy lawyerAccumulating mountains of financial debt is a terrifying feeling, and knowing how to escape from that debt may feel impossible. When you are barely making your minimums payments every month, accruing hundreds or thousands of dollars worth of interest, and are at risk of repossession or foreclosure, contacting a Middleville bankruptcy lawyer with questions about how to improve your financial future is a must.

Filing for Bankruptcy Can Give You the Fresh Start You Need

While filing for bankruptcy is not for everyone, it can provide you with the fresh start you need, and the freedom and relief that comes with discharging your debts. Bankruptcy may be the best option for you if:

  • Assets of yours are being repossessed;
  • You are constantly being contacted and harassed by creditors;
  • Your funds are being garnished;
  • The bank has threatened foreclosure of your home;
  • You have no savings;
  • You are barely paying your minimum monthly credit card debts, or have ceased making payments at all; and
  • You are delinquent on your taxes.

Remember, bankruptcy is not without consequences; filing for bankruptcy will significantly harm your credit – which is likely already in dire shape – and can limit your financial opportunities, such as getting a loan, over the course of the next decade. But it can also give you a clean slate and a way of moving forward in life.

Understanding the Difference Between Chapter 7 vs. Chapter 13 Bankruptcy

If you are thinking about filing for bankruptcy, it is important that you understand the different bankruptcy types. The two most common types of bankruptcy are described below:

  • Chapter 7: Chapter 7 bankruptcy is available to both businesses and individuals who are unable to make monthly payments towards the elimination of their debt, and is referred to as liquidation bankruptcy. This type of relief is available to debtors regardless of the amount of debt owed, and discharges the majority of debts. Certain debts, such as student loan payments, are not dischargeable. Assets are liquidated and distributed amongst creditors.
  • Chapter 13: Chapter 13 bankruptcy is the most common type of bankruptcy that individuals file. Rather than discharging debts, Chapter 13 helps individuals with an income by establishing a reasonable payment plan to help them pay back their debts.

What Does a Middleville Bankruptcy Lawyer Do?

A Middleville bankruptcy lawyer can help you to determine whether or not filing bankruptcy is right for you, as well as help you with debt negotiation and consolidation. If filing for bankruptcy is the best step, our attorneys will assist you in understanding the different bankruptcy types and how each will affect your financial well being.

Contact Our Middleville Bankruptcy Attorney Today For an Initial Consultation

To schedule an initial consultation with our experienced Middleville bankruptcy attorneys at the Van Den Heuvel Law Office, contact us by phone or online today. We can schedule an in-person consultation, or arrange for a consultation via Skype.

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