Information About Debt Relief
Below is a compilation of debt relief and bankruptcy information that we have put together for those that wish to further educate themselves on their options, and the process in general. From a glossary of the different types of bankruptcy, to pertinent forms, and various helpful websites, we hope you’ll find what you’re looking for. As always, don’t hesitate to call or email us directly with your questions and concerns.
Please note that the prefiling credit counseling course must be completed within 180 days prior to filing the bankruptcy.
Attorney Code: JR3615
Green Path, Inc.
Attorney Code: iskin
Abacus Credit Counseling
Attorney Code: ACC24630
Debt Education and Certification Foundation
Attorney Code: BTX95217
Misc. Forms For Download
Bankruptcy Court Website for Western District of Michigan: http://www.miwb.uscourts.gov/
Chapter 13 Trustee Brett Rodgers: http://www.rodgersch13.com/
Chapter 13 Trustee Barbara Foley: http://www.chpt13.com/
National Data Center to track bankruptcy payments: https://www.ndc.org/
United States Trustee: https://www.justice.gov/ust
Chapter 7 Bankruptcy: Often referred to as a liquidation or liquidating bankruptcy, Chapter 7 bankruptcy is available to both individuals and businesses. In Chapter 7 bankruptcy, a trustee is appointed to sell non-exempt assets and belongings of Chapter 7 debtors. But, THERE IS HOPE! DEBTORS DON’T HAVE TO LOSE ALL THEIR STUFF! If you are considering filing Chapter 7, contact a skilled bankruptcy attorney today to maximize the exemptions used to protect your belongings.
Chapter 13 Bankruptcy: In a Chapter 13 bankruptcy, individual debtors propose a generally 3 to 5 year plan of payments to creditors by way of a trustee. The plan must pay creditors what they would receive in a Chapter 7 bankruptcy, and provide all of a debtor’s disposable income. Debtors should contact a skilled bankruptcy attorney to keep their Chapter 13 plan payments as low as possible.
Chapter 11 Bankruptcy: Generally thought of as a corporate bankruptcy, Chapter 11 bankruptcy is available to corporations, and to individuals, usually who have too much debt for Chapter 13 and too much income for Chapter 7. Chapter 11 bankruptcies are more complicated bankruptcies, and involve a payment plan and solicitation of votes from creditors for acceptance of the plan.
Chapter 9 Bankruptcy: Chapter 9 bankruptcy is the reorganization of a municipality. Sadly, this one has hit the news more in recent years thanks to insolvency in Detroit, San Berardino, and Stockton, California.
Chapter 12 Bankruptcy: Chapter 12 bankruptcy is like a Chapter 13 bankruptcy, but with nuances for family farmers and family fisherman.
Chapter 15 Bankruptcy: Probably the bankruptcy chapter you are least likely to have heard of before, a Chapter 15 bankruptcy is one that involves debtors, assets, claimants, and other parties of interest involving more than one country.