American Bankruptcy Institute’s Annual Detroit Consumer Conference
ABI’s Sixth Annual Detroit Consumer Conference is designed especially for Michigan consumer bankruptcy legal professionals. The program deals with subjects that consumer practitioners need:
The latest from the Supreme Court and the lower courts; what’s left of good faith in bankruptcy, as well as an extensive series of breakout sessions on exemptions, lien stripping, tax issues, means testing, asset cases, claims against creditors, objections to claims, legal writing and oral argument, and mortgage modification news.
Michigan Bankruptcy Courts Say No Ads In Pleadings
Attention Michigan bankruptcy attorneys. A new notice has been posted to the Michigan bankruptcy court’s website regarding advertisements and electronic bankruptcy filings. Some papers containing advertisements or links to advertisements have been filed in cases by means of the Court’s ECF system. Papers filed in the Court’s ECF system containing advertisements or links to advertisements in any
form shall be stricken without further notice.
If you use the Court’s ECF system, you will want to check any filing software that you may use to make sure that it doesn’t contain ads or links to ads.
Michigan Chapter 7 Debt Assistance
A Chapter 7 bankruptcy is a very straightforward and uncomplicated process. Our bankruptcy lawyers have helped people deal with many Chapter 7 filings. Our Michigan bankruptcy attorneys are familiar with this particular type of bankruptcy and how it could be helpful in your situation. Our goal is to assist you in obtaining the right debt relief necessary for you to obtain a fresh financial start and reduce the stress caused by your substantial financial burdens.
Will I Lose Property With A Chapter 7 Bankruptcy Filing?
Chapter 7 bankruptcy cases don’t include filing a plan of repayment like they do Chapter 13. In a “7″ the bankruptcy trustee identifies and distributes the debtor’s nonexempt property and uses the proceeds of the sale of such property to pay creditors per the guidelines in the Bankruptcy Code. A portion of the debtor’s assets might be subjected to liens and mortgages that promise the assets to different creditors. It’s important to keep in mind that the Bankruptcy Code permits the debtor to retain some “exempt” property; but a trustee will liquidate the rest of the debtor’s assets. Therefore, debtors need to know that by submitting a petition under Chapter 7 can, in some cases, result in the sacrifice of property. However, in the majority of cases, there is little or no non-exempt property to lose. Which makes a Chapter 7 bankruptcy attractive.
If you’re considering a Chapter 7 bankruptcy in Michigan, let our experienced bankruptcy lawyers help you to understand your options.