When faced with financial distress, it is a smart idea to speak with a financial attorney about your situation. You should always be proactive and take action before its too late; you can are garnished, or lose your home or car. Our experienced bankruptcy lawyers provide direct and practical legal solutions that you will benefit from.
Jason Allen Law is a law firm dedicated to helping people that focuses solely on individuals in financial hardship around Kalamazoo, Michigan. Our team of attorneys has handled over five thousand bankruptcies and is committed to providing honest and person legal advice that is tailored to meet the needs of your situation.
Debt Reorganization in Chapter 13
A Chapter 13 bankruptcy, allows your debts to be consolidated into one low monthly payment where you will probably only pay back 10% of your debt. This payment will typically last 5 years. When your payments are done, your debt will be gone. A Chapter 13 may be the right option for you if:
You are looking to save a home or vehicle from foreclosure or repossession
Your main concern is taxes, child, support, or tickets
You want to pay your debt back
A chapter 13 will catch you up on your mortgage arrears, and if your are underwater on your house we can often get rid of your second mortgage.
Choose Chapter 13 vs. Debt Consolidation/Debt Settlements?
Debt consolidators are everywhere and would have you think your solution lies with them. Sadly, a lot of them are scams and can do more damage than good to your credit. Debt consolidation has several drawbacks:
Tax consequences: Debt settled becomes taxable income to you
Creditors are not forced by the law to accept your settlement
Debt settlement takes years
In all circumstances, debt settlement is more expensive than a bankruptcy
Bankruptcy has no affect on your taxes at all, forces all creditors to participate, can be done in as little as 3 months and will often cost less than 5% of your total debt.
Is foreclosure approaching on your home? What will happen if you lose your home? Our experienced bankruptcy attorneys at Jason Allen Law will answer get that foreclosure stopped. We provide honest and hands-on legal solutions for people throughout the Kalamazoo area in consumer bankruptcy. We help people who have fallen on hard financial times by offering personalized, honest and trustworthy legal advice that they can fully benefit from.
What Is the Best Foreclosure Defense? Answer: Bankruptcy
Foreclosure is the legal way by which a bank will sell your home if you are unable to make your mortgage payments. If you are behind on your payments and heading toward foreclosure, one of the only ways you can stop it is through bankruptcy. Loan modifications often require burdensome documentation, provide nominally lower payments, and are costly and time consuming. If you can't get caught up on your payments on your own, bankruptcy is the answer.
Keeping your home and filing bankruptcy:
Chapter 7: If you are current on your payment, in most cases you will be able to keep your home and get rid of all your unsecured debt.
Chapter 13: If you are behind on your mortgage payments, this will help you get caught up on the payments and keep your home.
Anytime you do something new, it can be intimidating and scary, especially something like bankruptcy. You probably have several questions like:
Do I qualify?
Will my credit be ruined?
What documents do I need?
How long will the process take?
We are determined to make the bankruptcy process as simple as possible for our clients. We take out the stress by dealing with your creditors immediately, collecting the documents, and preparing the paperwork to file your case, we do all the the work for our clients. Our law firm serves Kalamazoo and all of the surrounding south west corner of Michigan in bankruptcy law, including Chapter 7 and Chapter 13 bankruptcies.
The lawyers at Jason Allen Law understand that a bankruptcy is a new thing to most filers, which is why we continually stay focused on building a strong client/attorney relationship. By building this relationship, we can provide each client with the most timely and effective legal solutions for their particular situations.
The bankruptcy process:
Step 1: File paperwork with the court detailing your financial situation.
Step 2: Attend a simple hearing where you are questioned about the paperwork filed. Your attorney will be in attendance.
Step 3: Watch two videos about financial planning.
Step 4: Be debt free within 3 months.
The information you obtain at this site is not intended to be, legal advice. It is an advertisement. No one should act or refrain from acting on the basis of any content included in this site. You should consult an attorney for advice regarding your individual situation. The content contained in this site may not reflect current legal developments applicable to your situation. The Firm expressly disclaims all liability regarding any actions taken or not taken based upon any of the content of this site.