Lansing Michigan Bankruptcy Attorneys
Lansing Michigan Bankruptcy Lawyers
Are you a Mid-Michigan resident who is unemployed or underemployed? Are you having trouble paying your bills? Do you want the bill collectors to stop harassing you? Then consider getting the assistance of a Michigan Debt Relief Attorney. At Kronzek & Cronkright, PLLC, our bankruptcy division can help you with your debt issues.
What is bankruptcy?
Bankruptcy is defined as “the administration of an insolvent debtor’s property by the court for the benefit of the debtor’s creditors.”
That definition sounds confusing, so we will explain it more clearly. Basically, bankruptcy provides debt relief for a person or business (the debtor) that cannot pay their bills. Bankruptcy can be a fresh financial start or a payment plan for a portion of the debt. For the creditor, bankruptcy can ensure they get paid at least some of what the debtor owes to them. A bankruptcy trustee is appointed to oversee the distribution of funds to the creditors.
Is bankruptcy common in Michigan?
Unfortunately, yes. The economic recession has hit Michigan hard. Michigan’s unemployment figures are some of the highest in the nation. This means that many Michigan residents are unemployed or underemployed and have no way to pay all their bills. And if you can’t pay your bills on time, then late fees, penalties, and interest rates go up, which makes it impossible to catch up.
Do I need a lawyer to help with my bankruptcy?
We highly recommend hiring a bankruptcy attorney. The reason is because the bankruptcy process is very long and confusing. It involves court hearings, the bankruptcy trustee, the gathering and filing of lots of paperwork, and much more.
A good bankruptcy attorney is trained and experienced to help you solve your debt issues. But, most importantly a debt relief (bankruptcy) attorney will provide you with options to relieve your debt.
The U.S. Bankruptcy Code is a long, complex set of laws and each state also has its own bankruptcy laws. Depending on whether you are eligible to file for bankruptcy relief under the U.S. Bankruptcy Code’s Chapter 7, Chapter 11, or Chapter 13, there are many issues you may face and need to address in a bankruptcy case.
It may seem senseless to spend money to hire a bankruptcy attorney when you are already financially strapped. But the truth is that having an expert Michigan bankruptcy attorney on your side can actually save you money in the long run. A debt relief attorney knows the laws and knows your rights. You would not ask a plumber to perform your open heart surgery; you would go to a surgeon. Similarly, you should seek the advice and representation of an experienced debt relief attorney.
Should I file for bankruptcy?
Each person’s economic and debt situation is completely different. Call Kronzek & Cronkright, PLLC to schedule a free consultation with an experienced lawyer to discuss your individual situation. We have attorneys standing by ready to speak with you. Call us today regarding your bankruptcy issue: div(517) 886-1000!
