Legal Advice on Filing for Bankruptcy

Schedule A - Real Estate. Schedule A lists all of the real estate that you own as of the date of filing. This is obvious with respect to your home, if you own the property. It may not be so... more

Chapter 7 Filing Process The filing of a bankruptcy case is governed by the rules of the bankruptcy court where you will be filing. Always read the rules before filing your case or even filling out... more

While Attorney fees are a consideration when filing Bankruptcy, Do not let them be the determinative factor. Usually when individuals or businesses are considering bankruptcy their personal finances... more

6 Months Income. The first step in deciding whether to file bankruptcy is to evaluate your income over the last six months. This six-month income test is called the "means test" or median income... more

Short Sale. A short sale is the process of selling a piece of real property for less than what is owed on the loan(s). Short sales require the approval of the lender who will be affected by the... more

Bankruptcy is a legal process in which individuals and companies who have accumulated more debt than they are able to repay can regain their financial footing. Depending on the type of debt and the... more

Gather your records. In order to file a bankruptcy case, you need to know all your assets. You need to know all your debts. So gather up all of your bills, from credit cards to mortgage and car... more

Filing for Michigan bankruptcy may be the right choice for you if you are faced with mounting debts that you cannot conceivably repay without suffering undue financial hardship or further... more

To determine whether a Chapter 7 bankruptcy is abusive, Courts will use what is called a Means Test Formula, which has two important terms to define: Currently Monthly Income (CMI) - How much money... more

An overview of the strategic and administrative elements of a chapter 11 case.