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Bankruptcy Attorney in Ypsilanti, Michigan

Michigan Bankruptcy Law Firm

The Law Offices of John R. Bailey Is a Debt Counseling Agency in Ypsilanti & Kalamazoo, MI

At The Law Offices of John R. Bailey, PLLC, we are very sympathetic to all of your needs and will help you get going on the process. John R. Bailey gets the results you need in your bankruptcy case and stops the harassment you are enduring:

Lawsuits Filed

Collection notices sent

Credit cards denied

Wages garnished

Car repossessed

Tax liens assessed

Utilities shut off

Home in foreclosure

Quality Legal Representation Chapter 7 and Chapter 13 Bankruptcy Filings

When you retain The Law Offices of John R. Bailey, we will handle your case personally. He will keep you informed about the status of your bankruptcy petition. We offer affordable rates because we understand the financial difficulties that you are experiencing.

If you are personally experiencing hardships and considering the need to file for Chapter 7 or Chapter 13 bankruptcy, The Law Offices of John R. Bailey will get the results you need in your bankruptcy case. Our firm has helped countless clients receive the bankruptcy protection they are afforded under the law.

End Annoying Calls from Creditors and Collection Agencies

Once we file your bankruptcy case, your creditors are legally required to stop all collection action against you. If the creditor still continues to collect once the bankruptcy case has been discharged by a Trustee, you may be entitled to take legal action against that creditor.

Chapter 7 Bankruptcy Protection

Michigan Chapter 7 and Business Bankruptcy

A few hundred dollar bills and one fifty dollar billA Chapter 7 bankruptcy filing is a strategy for eliminating unsecured debt. We handle Chapter 7 bankruptcy for individuals and small businesses in Michigan.

In a Chapter 7 bankruptcy, certain assets are exempt from liquidation and cannot be taken from you. In Michigan, you can choose between the Michigan exemptions and the federal exemptions. We will help you decide which scenario best fits your needs.

Are You Dealing with Debt?

Though a company owner may feel a sense of shame in considering business bankruptcy, he or she should know two things:

  1. Both B2C and B2B bankruptcy throughout Michigan are more common than one might assume, especially since the onset of the current financial recession.

  2. We encourage clients who are facing B2C or B2B bankruptcy to think of this time as an opportunity to regroup-to learn from the experience and turn that knowledge into future success. Even if your business ultimately cannot be salvaged, the knowledge you have gained from this process makes you far better prepared to run another business than someone who is starting a business for the first time.

When we meet with you to discuss your options for a Chapter 7 business bankruptcy filing, we can share with you success stories from current and previous business clients who have experienced bankruptcy and turned it into success.

Get Help Today

When looking for bankruptcy lawyers, put your trust in The Law Offices of John R. Bailey to be certain that you are working with an experienced, local, proven, and affordable bankruptcy law firm. Contact us to schedule a free consultation.

Chapter 13 Bankruptcy Protection

Michigan Chapter 13 and Personal Bankruptcy

Foreclosure Home For Sale sign in a front yardChapter 13 protection arranges for you to propose repayment plans spread out over three to five years. During this time, the law forbids creditors from starting or continuing collection efforts against you.

Our law firm may recommend Chapter 13 bankruptcy as an alternative to Chapter 7 bankruptcy. Chapter 13 is a personal debt reorganization plan which allows you to consolidate and reduce your debts. You typically have a better chance of avoiding foreclosure if you are able to file Chapter 13.

A Chapter 13 bankruptcy enables individuals with regular income to develop a plan to repay all or part of their debts over three to five years.

Advantages of Chapter 13 Bankruptcy Filing

While Chapter 7 is essentially the liquidation of your assets, Chapter 13 offers individuals filing for personal bankruptcy the chance to save their homes from foreclosure by stopping foreclosure proceedings and possibly even curing delinquent mortgage payments over time. Chapter 13 allows you to reschedule secured debts and extend them over the life of the Chapter 13 plan, which may lower payments.

Disposable Income

To be approved for Chapter 13 bankruptcy, you must demonstrate that you will be able to pay back your debts under a structured repayment plan. You need to have the following:

A reliable source of income for three to five years

Enough money left over to make your payments after covering your basic needs

Debt Limits

Chapter 13 qualification also requires that you fall within certain debt limits:

Unsecured debts of less than $336,900

  • Credit card balances

  • Medical bills

Secured debts of less than $1,010,650

  • Mortgages

  • Car loans

If I File Chapter 13, What Are My Creditors' Rights and Responsibilities?

When you file, you include a proposed pay-off plan for priority claims against you in full. Once the bankruptcy court appoints a trustee who approves your plan, your creditors receive a copy of the plan. They have the right to accept or reject it. If approved you make monthly payments to the bankruptcy trustee who distributes the funds to your creditors according to plan.

Get Help Today

When looking for bankruptcy lawyers in Ypsilanti, put your trust in The Law Offices of John R. Bailey to be certain that you are working with an experienced, local, proven, and affordable bankruptcy law firm. Contact us to schedule a free consultation, no matter where you live in the area. We are proud to serve residents of Belleville, Ann Arbor, Kalamazoo, Portage, and anywhere else in our state.