Warning Sign #1: Maxing out on your credit cards or charging more than you can pay off each month.
Warning Sign #2: Over-using home equity loans.
Warning Sign # 3: No emergency fund.
Warning Sign # 4: Paying the minimum balance on your credit cards.
Warning Sign # 5: Tax lien or foreclosure on your home, or repossession of a car or other item you failed to make timely payments on.
Chapter 7 - Bankruptcy
Are you spending almost all of your income just to pay normal living expenses (housing, food, clothing, transportation, child care, etc.)?
Are creditors calling and demanding money that you need to feed yourself or your family?
Is there no money left to pay credit card debt, medical bills or judgements?
Are wages needed for living expenses being garnished by a creditor?
If you answered yes to one or more of these questions then most likely a Chapter 7 - Bankruptcy can help your financial situation.
Some Mistakes to Avoid under the New Bankruptcy Law
1- Failing to receive credit counseling briefing before filing
2- Failing to investigate the entire case prior bankruptcy filings
3- Failing to check residency for past 2 or 2.5 years
4- Failing to obtain tax transcript or return
5- Failing to review debtor’s income over past six month
6- Failing to determine when debtor acquired home
7- Failing to provide bank statement and proof of
current income at section 341 meeting
8- Failing to ensure that the debtor take a financial education course before discharg
The Independence Law Associates., PLC is a debt relief agency. We help clients file for bankruptcy relief under the bankruptcy code.
(313) 982-0010
From our offices in Detroit , we represent clients throughout the State of Michigan, including Southeast Michigan including Detroit, Ann Arbor, Allen Park, Albion, Lincoln Park, Brighton, Howell, Saline, Monroe, Blissfield, Romulus, Southgate, Wyandotte, Livonia, Dearborn, Westland, Lansing, East Lansing, Okemos, Warren, Sterling Heights, Roseville, Eastpointe, Battle Creek, Oak Park, Hillsdale, Inkster, Ferndale, Hazel Park, Whitmore Lake, Plymouth, Farmington, Trenton, Flat Rock, Tecumseh, Clinton, Chelsea, Novi, Garden City, Westland, Northville, South Lyon, Milan, Brooklyn, Melvyndale, Ecorse, Belleville, Canton, Wayne County, Ingham County, Washtenaw County, Jackson County, Lenawee County, Monroe County, Macomb County, Livingston County, Shiawassee County, Clinton County, Eaton County, Calhoun County, Branch County, Hillsdale County.
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Mistakes
Warning Signs
Chapter 7 (Liquidation) Bankruptcy Cases
- Preparing and filing the Chapter 7 bankruptcy petition, schedules, and other required pleadings.
- Representing you at the "341a" meetings where the Chapter 7 Trustee questions you about your assets and liabilities - one flat fee pays for as many "341a" appearances as are necessary to complete your case.
- Defending debtors against creditors or trustees who sue debtors to have debts declared "nondischargeable," or who seek to have the Bankruptcy Court deny the debtor any discharge.
- Our prices are competitive with prices charges by lawyers with much less experience - Don't Pay More, Get More!
Chapter 13 (Individual Reorganization) Bankruptcy Cases
- Preparing and filing the Chapter 13 bankruptcy petition, schedules, and other required pleadings.
- Preparing and filing the Chapter 13 plan for Repayment.
- Representing you at the "341a" meetings where theChapter 13 Trustee questions you about your assets, liabilities, and ability to make Chapter 13 plan payments.
- Representing you at all Chapter 13 plan confirmation hearings held in Bankruptcy Court.
- One flat fee pays for as many "341a" and confirmation hearing appearances as are necessary to complete your case.
- Our prices are competitive with prices charges by lawyers with much less experience - Don't Pay More, Get More!
Chapter 11 (Reorganization) Bankruptcy Cases
- Preparing and filing the Chapter 11 bankruptcy petition, schedules, and other required pleadings.
- Preparing and filing the required Chapter 11 Disclosure Statement and Chapter 11 Plan.
- Representing the debtor at the "341a" and other meetings with the U.S. Trustee.
- Assisting the debtor with all financial reporting (operating reports and interim statements) required by the U.S. Trustee.
- Representing the debtor at all Bankruptcy Court hearings.
- There is no better "inside" experience than having been a bankruptcy judge for 14 years - Put my experience to work representing your business in Chapter 11.
- Our rates compare favorably with those of other firms.
General Bankruptcy Services (In All Chapters)
- Defending debtors against relief from stay motions and all other motions brought by creditors, Chapter 7 trustees and U.S. Trustees.
- Representing debtors in adversary proceedings-both where debtor is the plaintiff and where debtor is the defendant.
- Bring motions where debtors are the movants. Oppose motions brought against debtors by creditors and other parties.
- Representing Debtors in Appeals of Bankruptcy Matters to Distirct Court, Bankruptcy Appellate Panel, Court of Appeals and US Supreme Court.
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See What We Can Do For You - Please Read
Our Bankruptcy Lawyers provide free telephone legal advice to consumers on Chapter 7 Bankruptcy. Call Now (313) 982-0010
Required Documents for Filing Bankruptcy
Many documents are required for a court (341 Hearing) and an in-office consultation for our review before we file your petition. It is Very Very important that you gather all of this paperwork and bring it with you when we discuss your bankruptcy case or go to court on the matter. Also the law requires us to provide the trustee with copy of theses documents prior to 341 Hearing.
1- Driver’s license or state issued I.D.
2- Social Security card
3- Federal income tax returns, with all attachments, for the two tax years prior to the date of filing.
4- Payment advices [paystubs] from an employer covering the 12 calendar months preceding the date of filing for
the debtor and the debtor’s spouse.
5- Bank statements for the last 12 months
6- Financial account statements for the six calendar months preceding the date of filing and for the month of filing for every financial account in which debtor had an interest; and documentation explaining the source of every deposit or credit, and the purpose of every check, withdrawal or debit.
7- Titles for all vehicles that you own, including boats, mobile homes, and motorcycles.
8- If you are leasing a car, you do not have an ownership interest and therefore do not have title.
If you cannot find your title, you must go to the Secretary of State and get a duplicate title in time for your court hearing. If you cannot get one in time, you will most definitely have to come back for another hearing.
9- If you own or are buying a house or rental property, you must bring the following list of items.
(a) Deed (warranty or quit claim) or land contract
(b) Mortgage balance statement (the amount of money you owe)
(C) Property tax bill (SEV) that shows assessed value
(d) Appraisal if you have one (part of the closing papers)
(e) Divorce judgments
9- Pension plan documents if you have a pension of 401K
10- Stock and bond certificates (if you own these items)
Required Documents
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A typical consumer bankruptcy filing consists of 40 to 100 pages of paperwork; depending on your situation. It involves many state laws and federal laws, both bankruptcy and non-bankruptcy. There are bankruptcy classes required for consumers; tax returns and payroll information which must be file with the court. Failure to do any of these things will mean the automatic dismissal of your bankruptcy. A business bankruptcy has mounds of paperwork, strict deadlines and procedures, which if not followed will lead to the bankruptcy being dismissed.
If the forms are not filled out correctly, or if you have failed to properly protect your assets, it may be too late to correct the problems once the documents are filed with the court. The documents are examined by officials of the court and your creditors - some of whom are representing interests that do not coincide with yours and would like nothing better but to take away assets because you did not protect them properly.
Once you retain our law firm and filed your petition then all your creditors are required by federal law to stop calling you.
Our Associates Lawyer or her/his staff will guide you through the required classes, documents and information gather process.
Our Bankruptcy lawyer meets personally with every client for at least 3-4 hours before any bankruptcy is filed. Our Lawyers are always available to answer any questions you may have.
There may be issues that must be taken care of before a bankruptcy can be filed, if it can. All those issues will be clarified and paths designed to deal with each. If a bankruptcy is not appropriate, then our lawyers will assist you with other alternatives.
Once both you and our Associates Attorney have decided the best time for filing your bankruptcy, then our office will take care of filing the documents with the Bankruptcy Court. You will receive a copy of all documents sent or received by our office.
At the time of the filing your documents will be assigned a "case number". That number is important. You can give that number to any creditors that call. Technically, from the date of filing all creditors, including the IRS, are prohibited from contacting you. They are restricted to working directly with your attorney.
Also, at the time your documents are filed a bankruptcy Trustee will be appointed. That Trustee's job is to make sure that your documents are complete and review your list of assets for items that are not protected by law. All of this will be explained during your meetings with our lawyers .
A creditor's meeting will be scheduled and you will receive notice from the Bankruptcy Court and this office as to that date, time and location. It is absolutely imperative that you attend that meeting.
Filing of the bankruptcy - The Process in Our Office
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What Happens at the 341 Hearing
Usually between 20 and 40 days after you file your petition, the trustee will hold the "first meeting of creditors" (also called a "341" meeting). The Debtor MUST attend. If for some reason the Debtor is unable to attend the first hearing and has a good excuses, the Trustee will reset it to a second case. The trustee will ask you to raise you right hand and take an oath stating that what you are about to say is the truth, the whole truth, and nothing but the truth under the penalty of perjury. Remember that failing to tell the truth is a criminal offense. Perjury is investigated and prosecuted by the FBI and the U.S. Attorney. The proceeding is recorded. You are to answer questions verbally. Do not shake or nod your head or provide an "Mnn...mnn" answer.
You will the be seated and the trustee (or your attorney if you have one) will ask you some of the following questions:
1. State your name and current address for the record.
2. Please provide your picture ID and Social Security number card for review.
3. Did you sign the petition, schedules, statements, and related documents and is the signature your own? Did you read the petition, schedules, statements, and related documents before you signed them?
4. Are you personally familiar with the information contained in the petition, schedules, statements and related documents? To the best of your knowledge, is the information contained in the petition, schedules, statements, and related documents true and correct? Are there any errors or omissions to bring to my attention at this time?
5. Are all of your assets identified on the schedules? Have you listed all of your creditors on the schedules?
6. Have you previously filed bankruptcy? (provide trustee with case number and the discharge information to determine discharge eligibility in this case)
7. What is the address of your current employer?
8. Is the copy of the tax return you provided a true copy of the most recent tax return you filed?
9. Do you have a domestic support obligation? To whom? Please provide the claimant's address and telephone number, but do not state it on the record. Are you current on your post-petition domestic support obligations?
10. Have you filed all required tax returns for the past four years?
11. Did you file bankruptcy before
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Discharge
A "discharge" in bankruptcy means that you are legally free and clear of any obligation to repay certain debts; they are gone. The creditor no longer has any right to collect that debt. The debtor no longer has any obligation to repay it. In chapter 7 cases, a discharge is not an absolute right of the debtor. Bankruptcy Code Section 727 lists grounds under which a Court may deny a discharge to an individual debtor in a Chapter 7 case. Grounds include that the debtor transferred, removed, destroyed, or concealed property of the debtor or estate, failed to keep or produce adequate books or records, failed to satisfactorily explain an asset loss, committed a bankruptcy crime or failed to obey a lawful order. The trustee or the creditors may request to revoke the debtor’s discharge in a chapter 7 case alleging the fraudulent behavior of the debtor. The court may revoke a chapter 7 discharge if the debtor fraudulently obtained the discharge.
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Important!! To get started: It is a good idea to read
above (Required Documents - The Process in Our Office ) and
to see what information we need.
We promise: to make the entire process as comfortable,
friendly, and easy-to-understand as possible
No Obligation: Having the consultation with us and
completing the forms does not obligate you to do anything, including filing
bankruptcy.
Before we file!! either Chapter 7 or 13, you must pass muster under a "means test". The Chapter 7 means test is a formula applied to determine whether or not the consumer should have enough money available to make some minimal payment to creditors in a Chapter 13 bankruptcy plan. Also you must complete a U.S. Trustee-approved Credit Counseling Briefing and give the completion certificate to us to file with your petition.
Do You Know - Please Read
Chapter 7 Bankruptcy Law Firm
Our Business Hours, M-F From 9:00 AM to 5:00 PM
Evening and Saturday By Appointment
If you have further questions regarding our services, or if you would like to schedule an appointment, please feel free to contact us today.
(313) 982-0010
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Any Question?
(313) 982-0010
Bankruptcy lawyer Detroit
What Documents Do I Need To Have ?
Chapter 7 bankruptcy is designed to help individuals and/or small businesses liquidate assets and repay creditors to resolve longstanding financial disputes. This is the type of bankruptcy usually best suited to a person who has a modest income, few assets, and comparatively high debts. During a Chapter 7 Bankruptcy proceeding, about a month after you file the case in Michigan, there is a meeting of the creditors (341 Hearing) – however, it is rare that creditors actually show up for this meeting. This meeting lasts about five to ten minutes. Three to six months later, you receive notice that your debts are discharged.
What Is Chapter 7 Bankruptcy?
1 (313) 982-0010
Chapter 7 Saving
Experienced Michigan Bankruptcy Attorneys You Can Depend On
1 (313) 982-0010
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