The Premiere Bankruptcy Attorneys In Detroit and Southeast Michigan
Straightforward Answers During a Difficult Time
Bankruptcy can happen to anyone. Bankruptcy law is designed to relieve the stress of financial problems. Most Bankruptcy filings are caused by medical problems, job loss, divorce and separations; or by a combination of these events. You probably feel overwhelmed by debt, stressed by collection calls, out of control and at a loss over what to do.
The first step to is learn about your options. If you are going through difficult financial times and think bankruptcy might be your only way out, the knowledgeable and understanding lawyers at Kallabat & Associates, P.C. can help you. There is life after personal bankruptcy.
Our attorneys have been helping people get a fresh start with bankruptcy since 1994. We have earned a strong reputation for high standards and ability to protect the rights and best interests of the people we serve.
Please contact us today for a free consultation. From our law offices in Farmington Hills, we offer skillful, experienced legal representation and friendly, personal service to people in Oakland Country, Genessee County and throughout the metro Detroit area.
Knowledgeable. Assertive. Supportive.
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Chapter 7 BankruptcyA Chapter 7 bankruptcy is a straight liquidation. Chapter 7 bankruptcy is ideal for people in these situations:
- Your household income is less than the median, or you can pass the means test
- You have primarily unsecured debt
- You wish to surrender a home or a vehicle that you can no longer afford
- You are current with your home or your vehicle, and you wish to keep them but get rid of all of your unsecured debt
Chapter 13 BankruptcyA Chapter 13 bankruptcy offers flexibility. It is a comprehensive debt reorganization and debt restructuring that results in an affordable monthly payment. A Chapter 13 bankruptcy requires that you have some source of regular and reliable income, and it’s ideal for people in these situations:
- You’re behind on your mortgage – the plan will help you get caught up
- Your second mortgage that is underwater – the second mortgage can be removed entirely!
- You have unpaid property taxes – the plan will help you get caught up in affordable monthly payments
- You have unpaid back income taxes – you can pay back the IRS over time at zero interest
- You’re behind on your car payment – the plan can lower your interest rate and stretch out the loan to lower your payment
- You have regular income, but you simply cannot meet all of your obligations every month – the plan can help you budget
- You have assets you want to protect – a Chapter 13 bankruptcy will allow you to keep your assets and pay back your creditors over time.
- You have certain kinds of debt that are not dischargeable in a Chapter 7 – some kinds of debt, such as civil infraction traffic tickets, are not dischargeable in a Chapter 7 bankruptcy but are dischargeable in a Chapter 13 bankruptcy
- Automatic stay from your creditors the entire time you are in your plan
- Immediate stops to foreclosures, garnishments, and repossessions when your case is filed