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You Don't Have To Face Your Legal Hurdles Alone

Why Filing Bankruptcy May Be Good For You

Bankruptcy is not failure. It is a fresh start. A chance to succeed again.

Don’t believe me? You are not alone. Everyone who walks into my office facing tremendous debt is frightened. There are so many questions and stigmas surrounding bankruptcy that it can be difficult to see it for what it is: A simple process that puts your life back on track.

Here are five reasons why bankruptcy might be a good option if you’re drowning in debt.

#1 — It Stops Collection Actions In Their Tracks

When you file Chapter 7 bankruptcy, what’s known as an “automatic stay” goes into effect. It prevents creditors and debt collectors from taking any further actions against you — no more letters written in aggressive red typeface, no more harassing phone calls, and no more garnishment of your wages or bank accounts. The automatic stay will even halt a foreclosure or repossession of your car.

#2 — It Can Actually Protect Your Home And Car

Want to keep your home or car? Under Michigan’s bankruptcy laws, you can “exempt” certain property — like your home and car — from the bankruptcy proceeding. All you need to do is keep making your payments and then reaffirm your mortgage or car loan once the bankruptcy process is done. Without the crushing weight of credit card debt and other debts, you can continue to pay on those loans until they’re paid off!

#3 — It’s A Fairly Straightforward Process

You’ll work with me, your lawyer, for most of the bankruptcy process. The bulk of our time will be spent gathering supporting documentation like pay stubs, statement balances, medical bills and other financial records. I use the latest software programs to keep this process simple, organized and easy for you.

We’ll then fill out your petition, sign it and file it with the local bankruptcy court. About 30 to 45 days after you file, you will be scheduled for a 341 meeting. This meeting will be the only time you should need to appear in court. I will attend this meeting with you, where a bankruptcy trustee will review your petition and ask you a few questions.

After the 341, your case will be discharged, if we have done our homework properly.

I have spent years helping Shelby Township residents achieve financial freedom. If I do not think your case will qualify for Chapter 7, I will tell you upfront in our first consultation.

#4 — It Can Actually Help Your Credit Score In The Long Term

It’s true that your credit score will take a temporary hit when filing bankruptcy. However, without that crushing load of debt, you will have the capacity to start rebuilding it immediately after your discharge. In fact, carrying enormous debts for months can do much more harm to your credit score than a quick bankruptcy filing ever will.

#5 — It Clears Your Slate So You Aren’t Shackled With Worry Any More

Most importantly, bankruptcy really is a fresh start. It wipes away your unsecured debts entirely — meaning no more astronomical credit card balances, ever-increasing late fees, crushing medical bills and constant worry over how you will pay it all back. Once your claim is finalized, that’s it. It’s over, done, and you are free to walk away from this period of your life forever.

Contact Buk Law For A Free Consultation And Competitive Bankruptcy Rates

I know legal costs can be daunting, especially if you’re already worried about money. That is why I offer competitive fees for my services and a free initial consultation with no obligation. Schedule yours today by calling 586-884-7083. You can also contact me online to set up an appointment.

My firm is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.