Bankruptcy

Bankruptcy - An Overview

Many people find it hard to take that first step to speak to a lawyer about bankruptcy. They don't understand what bankruptcy can do for them, or they are confused by the common misperceptions about bankruptcy.

If you are overwhelmed with debt, get the facts. Talk with an experienced Michigan bankruptcy lawyer at the Dorn Law Firm. We have helped hundreds of people in the Detroit metro area get out from under crushing debt, end harassing creditor phone calls, and save their homes from foreclosure.

We offer a free initial consultation, so you have nothing to lose by contacting us to schedule an appointment. We will also advise you on the things you should and should not do if you are considering bankruptcy.

Myths and Truths About Bankruptcy

Myth: I will lose everything. Truth: Your house, car, retirement funds and personal belongings are usually 100% exempt. Most clients we work with do not lose any assets. If you are facing foreclosure, we may be able to negotiate to keep your home. With Chapter 13, we may be able to strip a second mortgage. Or we may be able to help you minimize losses.

Myth: I make too much money to file for bankruptcy. Truth: The majority of our clients qualify for Chapter 7 (debt forgiveness) bankruptcy. If your income does exceed the means test, you can file for Chapter 13 (repayment plan).

Myth: Everyone will know. Truth: Bankruptcies are not published by the bankruptcy court. No one will find out unless they are looking for that information.

Myth: I will never get credit again. Truth: A bankruptcy remains on your credit report for 10 years from the date of filing. You will qualify for charge cards and loans (like a mortgage) within a year or two of filing bankruptcy. With continued timely debt settlement payments (such as you make in a Chapter 13 repayment plan), your credit score will actually improve.

Contact Us for Bankruptcy Legal Help

The bankruptcy law exists to give a second chance to honest debtors like you who got in over their heads. Contact the Dorn Law Firm at 248.438.8716 or 866.684.5816 for a free consultation about Chapter 7 bankruptcy or Chapter 13 personal bankruptcy. Evening and weekend meetings are available by appointment.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.