Southfield, Michigan, Chapter 7 Bankruptcy Info
Chapter 7 bankruptcy is sometimes referred to as “fresh start” bankruptcy. It gets this name because it can erase most debts. Generally, a Chapter 7 bankruptcy makes the most sense for individuals overwhelmed by medical or credit card debt. It is can also be a useful strategy for people facing loan refinances or who have lost an income source through a layoff.
Typically, a Chapter 7 bankruptcy is used by folks who aren’t likely to gain the ability to pay back their debt under a payment plan such as occurs under a Chapter 13 bankruptcy. The process of filing Chapter 7 bankruptcy is fairly straightforward but does require an eligibility and application process. If you retain a bankruptcy attorney, they can prepare all paperwork and appear with you at your various court hearings.
While there has been much misinformation to the contrary, the new Chapter 7 bankruptcy laws have made it even more imperative that you consult with an experienced bankruptcy attorney.
Romney blames UAW, feds in book – The Detroit News
 The Detroit News |
Romney blames UAW, feds in book
The Detroit News The Obama administration forced GM into bankruptcy and rejected its first restructuring plan as inadequate in March 2009. It also forced out Chairman and … |
GM’s Retooled Plants May Bring Back Laid-Off Workers – BusinessWeek
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GM's Retooled Plants May Bring Back Laid-Off Workers
BusinessWeek GM, the largest US automaker, is revamping its production after exiting bankruptcy with government aid in July. The Detroit-based company had scaled back as … |
Fritz Henderson is back at GM, for $3000 an hour – CNN
 U.S. News Rankings & Reviews |
Fritz Henderson is back at GM, for $3000 an hour
CNN … at restructured companies, Lee likely discovered that GM lost volumes of institutional knowledge when it thinned its executive ranks after bankruptcy. … Your Tax Dollars at Work: Fired GM CEO Returns as High-Priced Consultant What Is GM's Ousted CEO Doing for $60000 a Month? |
GM to add third shift at Ohio plant – The Detroit News
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GM to add third shift at Ohio plant
The Detroit News … Michigan, said Dave Green, president of UAW Local 1714, which represents Lordstown workers. GM's financial problems, its trip through bankruptcy court … |
Lukewarm about Lansing – Stateline.org
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Lukewarm about Lansing
Stateline.org … he took office in 1983, Michigan's unemployment rate was even higher than it is now, at 17 percent, and the state faced a serious threat of bankruptcy. … |
Muni Defaults May Rise Amid ‘Unprecedented Stress’ on Finances – BusinessWeek
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Muni Defaults May Rise Amid 'Unprecedented Stress' on Finances
BusinessWeek Only two of the local government borrowers Moody's rates filed for bankruptcy or defaulted in 2009, including the City of Menasha, Wisconsin's, … |
Commercial: Finding a New Stream – International Business Times
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Commercial: Finding a New Stream
International Business Times Bankruptcy can place the property in a receivership for months, if not years. "We currently own debt on two apartment complexes, and it could take us up to … |
Granholm: Stimulus Could Create 40-Thousand Michigan Jobs – WHTC
 WHTC |
Granholm: Stimulus Could Create 40-Thousand Michigan Jobs
WHTC … millions of jobs would have been lost. Granholm said GM and Chrysler would not have come through bankruptcy and both likely would have been liquidated. |
Aztar’s new leader betting on casino’s bright future – Evansville Courier & Press
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Aztar's new leader betting on casino's bright future
Evansville Courier & Press Tropicana filed for bankruptcy in 2008. At that time the Indiana Gaming Commission appointed Tom Dingman as "attorney in fact" to oversee the Evansville … |