What happens to my debts when I die?

People are often concerned about burdening their family with their debts when they pass on. Many people in Michigan fail to realize that those debts won’t become the responsibility of their family (unless they have co-signers). If the individual who passes has minimal assets; oftentimes, sending a notice with a death certificate is enough to […]

Chapter 7 and Mortgage Reaffirmation Agreements

Filing for Chapter 7 bankruptcy protection allows a debtor to eliminate their debt (some debts are non-dischargeable) to creditors. As part of the Chapter 7 process, the debtor can reaffirm on certain debts remaining responsible going forward. These debts generally include vehicle loans and mortgages. The debtor would generally opt to complete this paperwork to […]

Student loans and bankruptcy

Student loans are notoriously difficult to eliminate in bankruptcy under the current standards. While there are options for federal student loans, many private student loan lenders offer few options for those in need. Some congressional leaders have put forth a bill to allow student loans to be discharged in bankruptcy. Link to proposed bill: https://www.congress.gov/bill/115th-congress/house-bill/2366 […]

Other Options – Mortgage Foreclosure

People facing foreclosure oftentimes reach out to our office too late in the process to avoid needing to file bankruptcy. That doesn’t mean that there aren’t other options out there. Many mortgage companies and servicers offer loan modification to people who have fallen behind on payments. There are also outside organization such as Step Forward […]