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The traditional stigma of bankruptcy has faded and been replaced by the view that it is a fresh start after a time of emotional and or physical stress.
Many people filing for bankruptcy have experienced unexpected financial shock, such as that caused by sudden events such as job loss, business failure, death, divorce or illness.
Filing for bankruptcy can be [...]
According to the RealtyTrac U.S. Foreclosure Market Report for August 2009, the nation’s foreclosure activity decreased fractionally from July but was still 18% above the level reported for August 2008. One in every 357 U.S. housing units received a foreclosure filing during August.
If you are reading this, you may be affected. With these unfortunate statistics, [...]
Declining home values in Michigan have caused home values to depreciate or go “underwater,” which means below the amount that some homeowners owe. Now there is a new form of relief available in Michigan Bankruptcy Court.
For homeowners with second mortgages, if the value of your home has declined to less than the total value of [...]
Not everyone is required to take the means test. One major exception to excuse the means test is if the debts are not primarily consumer debts. If a person debts are primarily business related, they are excused from taking the means test. There are also exceptions for military personnel in some circumstances.
The means test is [...]
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