Chapter 7 Bankruptcy Services in Clinton Township, Michigan

What our clients said:

"Ms. Dimovski and I sat down and looked at a plan of action to help me clear up my debt. She was very professional and an outstanding human being."

Wanda Goodnough

Chapter 7 Bankruptcy Services

Chapter 7 Bankruptcy Wipes Out Debt

Chapter 7 bankruptcy is called liquidation or wipe out. The basic idea is to wipe out your unsecured debts, like credit cards, medical bills, personal loans, judgments, etc. and have a fresh start. Chapter 7 bankruptcy also stops garnishments from your paycheck.

Most people are worried about keeping their house and/or car when filing Chapter 7. Chapter 7 allows you to keep your house if you continue to maintain your payments and if you can exempt the equity you have in that property. It also allows you to keep your car if you maintain the payments, have a reasonable payment and can protect the equity you have in it.

You WILL NOT qualify for Chapter 7 if:

  • You filed Chapter 7 in the last 8 years.
  • Have a number of assets or property with a high amount of equity.
  • Have high income without many expenses.

Each person who files a Michigan bankruptcy case gets different types of exemptions or dollar amounts to protect different types of property. In order to keep your property, the equity or value of the property must fall within these amounts. When you come to Michigan Bankruptcy Attorney, Daniela Dimovski will ask you a series of questions and evaluate your situation to make sure you can keep your property.

Chapter 7 also allows you to give back your home or your car.

If you choose to do this, Chapter 7 will wipe out balances you may owe upon turning this property back to the bank or lender. It's important to understand that Chapter 7 does not typically eliminate certain kinds of debt, like student loans, from certain types of taxes, court ordered alimony payments, maintenance, or support payments, fines, penalties, criminal restitutions, incurred through fraudulent conduct, incurred through intentional injury to person or property, or from personal injuries caused by driving while intoxicated.

Chapter 7 eliminates:

  • Credit Card debts
  • Medical debts
  • Personal loan debts
  • Lawsuit debts
  • Judgments - Unless fraud or criminal related
  • Deficiency debts on repossessed autos and foreclosures
  • Personal Injury Debts - except driving while intoxicated and criminal injury.
  • Certain other exceptions may apply.

Chapter 7 Timeline InformationMacomb County Chapter 7 Timeline

Clinton Township-based Michigan Bankruptcy Attorney Daniela Dimovski can help you with all of your Chapter 7 needs. Contact us today.

What our clients said:

"When I met Daniela in person, she was very professional, knowledgeable and made me feel very comfortable."