Bankruptcy Overview

Detroit Bankruptcy Law Attorney

Bankruptcy can provide necessary relief when you are engulfed in creditor letters, past due bills, home foreclosure notices and other evidence of insolvency. Although the prospect of filing for bankruptcy can be overwhelming, attorney Ann M. Howard can help you understand bankruptcy laws, your options under the Bankruptcy Code and the process you can expect when filing for bankruptcy. Her experience enables her to demystify the bankruptcy process, and she enables you to obtain peace of mind about your debts and future financial security.

Bankruptcy Process

Pre-Bankruptcy Planning: The first step to the bankruptcy process is collecting all necessary information so that your attorney can obtain a clear picture of your financial situation. Important information to provide Ms. Howard with includes your pay stubs, tax returns, mortgage documents, letters from your creditors, list of creditors, loan documents and other pertinent information. After reviewing this information, Ann M. Howard can advise you of your options based on the 2005 changes in the bankruptcy laws and recommend which option would better serve your interests.

Although Chapter 7 bankruptcy provides relief from all or most of your debt, not everyone is eligible for Chapter 7 debt relief. Additionally, some people who are eligible for Chapter 7 bankruptcy may elect to file Chapter 13 bankruptcy in order to keep their home and other assets.

In addition to this pre-bankruptcy planning, it will be necessary to complete pre-bankruptcy credit counseling (now required by federal law) before the bankruptcy petition can be filed. Credit counseling can be completed online or over the phone. Additional financial management counseling is required prior to the final bankruptcy discharge.

Bankruptcy Petition Filed: Attorney Howard files your bankruptcy petition with the bankruptcy court and an automatic stay will be ordered by the bankruptcy court. An automatic stay notifies creditors that all credit collection actions against you must stop immediately, including foreclosure, repossession, wage garnishments, phone calls, collection letters and other actions.

Meeting of Creditors: A meeting is scheduled for you, your bankruptcy lawyer, the assigned bankruptcy trustee and any of your creditors to discuss your bankruptcy case (within 25-45 days from the date the bankruptcy petition was filed). Realistically, however, this meeting will only involve you, your lawyer and the bankruptcy trustee.

Close of the Bankruptcy Case: If you are petitioning for Chapter 7 bankruptcy liquidation, your creditors will have 60 days to object before all eligible debt is discharged permanently and your bankruptcy case is closed. If you are petitioning for Chapter 13 bankruptcy, your three to five year repayment plan will be presented, negotiated and agreed upon at this meeting. Once the repayment plan is approved, the bankruptcy trustee will manage your debts over the course of the repayment period. You will make one monthly payment to the trustee and the trustee will disburse payments to the creditors. If successful, your bankruptcy case is closed at the end of the repayment period.

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

Ann M. Howard represents consumers in personal bankruptcy filings under Chapter 7 and Chapter 13 of the Bankruptcy Code. For experienced legal advice from a knowledgeable Michigan bankruptcy lawyer, call (248) 356-6162 or contact the firm online. Free initial phone consultations are available.

Ann M. Howard, Attorney at Law
29777 Telegraph Road
Suite 2425
Southfield, MI 48034-7651
Phone: (248) 356-6162
Fax: (248) 356-6163

Ann M. Howard, Detroit bankruptcy lawyer & residential real estate lawyer, located in Southfield, Michigan, represents clients throughout the Detroit, Michigan, area in communities such as Southfield, Livonia, Plymouth, Farmington Hills, Royal Oak, Huntington Woods, Dearborn, Troy, Redford, Novi, Oak Park, Bloomfield, Pontiac, Warren, Westland, Sterling Heights and Ann Arbor.

Monroe County • Wayne County • Livingston County • Oakland County Macomb County • Washtenaw County