4920 Broadmoor SE
Grand Rapids, MI 49512


Rockford Bankruptcy Lawyer

Debt wrecking ball from Rockford bankruptcy law firmStruggling with paying back debts can be stressful for anyone. When the inability to repay your debt results in repossession, wage garnishment, or threats of foreclosure on your home, however, your future can become uncertain and downright terrifying. If you are facing mountains of debt and find yourself fearful about how you will ever escape your debt, contact our Rockford bankruptcy lawyers at the Van Den Heuvel Law Office for a consultation about your options today.

Why Filing for Bankruptcy May Be Your Best Option

Filing for bankruptcy should not be something that you consider unless you are in dire financial circumstances, as filing for bankruptcy can have serious repercussions on your credit, and therefore your ability to get a loan, a credit card, or even housing in the future.

However, if you unable to pay your debts, have had lawsuits filed against you, are facing wage garnishment or foreclosure, and are constantly being contacted by creditors, filing for bankruptcy can provide you with the relief you are looking for.

There are two common types of bankruptcy that individuals may file for. These are:

  • Chapter 13 bankruptcy, which is the most common bankruptcy type for individuals. While Chapter 13 does not discharge, or forgive, debts, it does create a payment plan that is based on a debtor’s income. The payment plan is designed to help an individual make payments over a three to five year time period. One of the biggest benefits to Chapter 13 bankruptcy is that in the majority of cases, it allows individuals to keep their homes and vehicles, and may allow for payment of less than the full amount of debt.
  • Chapter 7 bankruptcy, or bankruptcy liquidation. In this bankruptcy type, non-exempt assets must be surrendered and liquidated in order to pay creditors. After Chapter 7, debts are discharged, or forgiven. The majority of debt types are discharged. The exceptions to this are student loan debts, child support payments, and tax payments.

As a note, both types of bankruptcy put a hold on foreclosures, a huge relief to those who risk losing their homes.

How Our Bankruptcy Lawyers Can Help

At the Van Den Heuvel Law Office, we care about your economic situation and want to help you to secure the best financial future. We will aid you by:

  • Assisting you in debt negotiations. Before you file for bankruptcy, our attorneys can assist you in negotiating with your creditors to either reduce the amount of money that you owe, or paying it in smaller amounts, over a larger amount of time, or at a lower interest rate.
  • Exploring the possibility of debt consolidation. Debt consolidation is the process of taking out one, large loan in order to pay off a handle of smaller loans. Dealing with one loan at a fixed, or lower, interest rate is often more manageable.
  • Understanding the bankruptcy types and how the process works. If bankruptcy is your best option, our attorneys will help you to understand the different types of bankruptcy and how the process works. We will guide you throughout the entire experience.

Contact Us Today

To learn more about filing for bankruptcy and improving your financial future, contact our experienced Rockford bankruptcy team at the Van Den Heuvel Law Office today. We are available online or by phone.

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