Bankruptcy in Michigan or any other state is never a fun process. Bankruptcy fillings across the U.S. fell by 182,000 filings in 2010, but this points to the deteriorating economic condition. A Michigan bankruptcy attorney can not only guide you through the process, but also act as your advocate. A Michigan bankruptcy attorney can even help you put your life back on track once you climb out of bankruptcy.
Modern bankruptcy has come a long way. During the Roman republic, creditors could either sell the debtor into slavery or kill him. The founders of our nation realized that bankruptcy could be useful, for it allowed people to take risks with a safety net. Since then, Congress has authorized two bankruptcy types. Chapter 7 bankruptcy michigan households can use includes asset liquidation, while Chapter 13 Michigan households can use covers debt consolidation.
A Michigan bankruptcy attorney can help in either situation. Over a quarter of filers own a bachelors degree, so bankruptcy strikes anyone. A Michigan bankruptcy attorney can help both with advocacy, shielding assets, and keeping the process equitable. In fact, with careful planning and prudence, a Michigan bankruptcy attorney can help rebuild your credit score. So if you are considering filing bankruptcy in michigan, call a bankruptcy lawyer to see how they can help.