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Bankruptcy

Recent Posts in Bankruptcy

  • 24-Mar-2016

    What is Chapter 7 Bankruptcy?

    Having an unmanageable financial debt can be overwhelming. If you’re thinking of filing for bankruptcy, you may want to explore which bankruptcy chapter is best for you. Our Detroit bankruptcy attorneys can help you understand if filing for ...
  • 4-Nov-2014

    Bankruptcy After Divorce

    One of the biggest adjustments to life after divorce is making due with just one salary. Sometimes your bills become too oppressive and you find yourself with extensive debt. In this case, bankruptcy can be a viable means of clearing your debt and ...
  • 21-Oct-2014

    Is Bankruptcy Right for Me?

    In recent years, bankruptcy has developed a bad rap. The word alone can invoke images of sitting on the curb outside of your home, watching as your possessions are carted away. Surprisingly enough, bankruptcy can be one of the best ways to resolve ...
  • 24-Sep-2014

    How to Have a Successful Chapter 13 Bankruptcy

    Unlike Chapter 7 bankruptcy, Chapter 13 claims are not designed to eliminate a person's debt; rather, they enable a claimant to restructure their finances and begin paying off their debt. A Chapter 13 case typically takes around 60 months, during ...
  • 10-Sep-2014

    How Long Does a Chapter 7 Case Last?

    If you are trapped in debt and your income is below the median, you may be able to file for Chapter 7 bankruptcy. This process will allow you to eliminate certain types of debt and resume life without the stress caused by years of accumulated debt. ...
  • 14-Jul-2014

    Our Firm vs. a Bankruptcy Mill

    You may hear many of their ads blasting on the radio or TV. You may also have heard of the incredible number of bankruptcy cases they have churned out. Unfortunately, these could be a couple of the danger signs of a bankruptcy mill, a law firm that ...
  • 2-Jun-2014

    Small Business and Bankruptcy

    Are you a small business owner who is currently struggling to keep up with financial obligations? Are you being threatening with legal action or worried that you will be unable to maintain operations? If so, you may want to consider bankruptcy as a ...
  • 26-May-2014

    What to Avoid Before Filing Bankruptcy

    Making the decision to file for bankruptcy will likely prove to be a significant turning point in your life. The actions you take immediately after making such a decision will have a direct impact on the success of your case and its overall outcome. ...
  • 20-May-2014

    What Doesn't Bankruptcy Do?

    If you are wondering whether bankruptcy is right for you, it is important you not only understand what bankruptcy does do, but what it doesn't do as well. Bankruptcy is not an end-all solution to financial debt. Individuals who have an obligation ...
  • 12-May-2014

    How Does Bankruptcy Discharge Work?

    Being weighed down under a significant amount of debt can leave a person feeling stressed out, unsure of his or her rights and wondering whether there are any legal options that can be pursued. Filing for bankruptcy is an extremely effective way for ...
  • 5-May-2014

    Does Bankruptcy Stop Creditor Harassment?

    When an individual is unable to keep up with financial obligations, the last thing that individual needs is to have creditors calling at all hours of the day, making threats and engaging in unethical collection tactics to try and force him or her ...
  • 25-Apr-2014

    Will Filing Chapter 13 Help Me to Keep My Home?

    Owning your own home is a major life accomplishment. While there is nothing quite like being able to buy a house you can call your own, purchasing a home is a long-term financial commitment. While you might have been able to afford the mortgage ...
  • 17-Apr-2014

    Will Bankruptcy Get Rid of Lawsuit Judgments?

    If a creditor has been able to win a lawsuit and obtain a judgment against you, you may be wondering whether there is any way to get rid of that lawsuit judgment by filing for bankruptcy. The lawyers here at Marshall D. Schultz have handled thousands ...
  • 11-Apr-2014

    Will Bankruptcy Wipe Out All Of My Debts?

    If you are considering bankruptcy as an effective way to eliminate that debt, a bankruptcy attorney from our law offices will be able to let you know what portion of your debt may be eligible for discharge through bankruptcy. Our attorneys do not ...
  • 18-Mar-2014

    If I Cannot Pass the Means Test, Can I Still File for Bankruptcy?

    One of the most common misconceptions people have about bankruptcy is that they will be unable to file for bankruptcy if they cannot pass the means test. That is simply not true. Bankruptcy is available to almost any individual who wants to clean ...
  • 7-Mar-2014

    5 Ways You May Be Able to Avoid Bankruptcy

    Bankruptcy is often viewed as a last and final option for people who have found themselves struggling under what seems to be an overwhelming amount of debt. Bankruptcy is not necessarily the only debt relief that may be available to them. There are ...
  • 28-Feb-2014

    Can I Catch up on past due Mortgage Payments by Filing for Bankruptcy?

    There are many reasons an individual may want to consider filing for bankruptcy. If you have fallen behind on your mortgage payments and are worried about losing your home to foreclosure, filing for Chapter 13 bankruptcy may be a viable way in which ...
  • 27-Feb-2014

    Can I Eliminate Tax Debt Through Bankruptcy?

    Filing for bankruptcy is one of the ways in which an individual can pursue much needed debt relief. Not all debt can be eliminated or discharged during the bankruptcy process. Certain debts will remain your financial responsibility regardless of ...
  • 21-Feb-2014

    What do I need to do to file for Bankruptcy?

    Filing for bankruptcy is one of the ways in which an individual can be given a fresh financial start so as to move on with his or her life unencumbered by an overwhelming amount of debt. If you are considering filing for bankruptcy, you may be ...
  • 14-Feb-2014

    Will I lose my home, car and Other Assets if I file for Bankruptcy?

    One of the main questions we are asked by people who are considering filing for bankruptcy is whether or not they will lose their home, car and other assets during the bankruptcy process. Individuals who file for Chapter 13 bankruptcy are not ...
  • 14-Jan-2014

    In Chapter 7, What Debts Can I Discharge And What Assets Can I Keep?

    If you have far more debt than your current income allows, you have fallen behind on your financial obligations, you have creditors harassing you for payment, you are at risk of losing your home or vehicle, and you see no light at the end of the ...
  • 6-Jan-2014

    Can I Save My Home By Filing For Chapter 13?

    If you have fallen behind on your mortgage payments and are at risk of losing your home to foreclosure, an experienced Detroit Chapter 13 attorney from our firm may be able to help you obtain the debt relief you seek. The attorneys here at Marshall ...
  • 14-Aug-2013

    Five Ways Your Debt Collector May (or May Not) Be Harassing You

    If you are in debt, you may have debt collectors contacting you on a consistent basis. As pesky as some of them may be, some typical ways a collector may try to reach you may in fact be illegal. You have legal protections in place from the Fair Debt ...
  • 12-Jun-2013

    The Benefit of Having a Lawyer for Debt Negotiation

    There are numerous debt relief and debt settlement firms in the Detroit area who claim they will be able to help you negotiate your existing debts to the point where you will only be required to pay a portion of the original loan value. While ...
  • 5-Jun-2013

    Will Filing for Bankruptcy Stop Foreclosure Proceedings?

    As soon as an individual or couple files for bankruptcy, all collection actions must cease at once. One of the first parts of the bankruptcy process involves the issuance of an "automatic stay". An automatic stay is a temporary injunction, ...
  • 29-May-2013

    Fisker Automotive on the Verge of Filing for Bankruptcy

    According to recent reports, it appears as though plug-in, hybrid giant, Fisker Automotive, may be on the verge of filing for bankruptcy. Sources show the primary issue Fisker is facing is that it still owes the U.S. Department of Energy $172 million ...
  • 22-May-2013

    How Can I Benefit From Bankruptcy?

    Over the years, numerous misconceptions, myths and stigmas have surfaced concerning bankruptcy and its benefits. This has caused countless individuals to avoid taking advantage of the benefits bankruptcy can provide to help them alleviate their ...
  • 15-May-2013

    Parents of Former Michigan Brewing Co. Founder Lose Their Home, and Face Untimely Financial Ruin, After Son Files for Bankruptcy

    When Michigan Brewing Co. founder, Bobby Mason, recently filed for Chapter 7 bankruptcy, to liquidate his estimated $8 million dollars worth of liabilities, which he owed to close to 400 creditors, he also put his parents in a desperate position, ...
  • 19-Apr-2013

    Tips for Rebuilding Your Credit after Bankruptcy

    While bankruptcy offers debtors a fresh start, it's vitally important that they begin focusing on establishing healthy spending habits and rebuilding their credit as soon as possible. For debtors who filed a Chapter 7 bankruptcy, they can begin ...
  • 12-Apr-2013

    Recognizing the Bankruptcy Warning Signs

    One of the reasons why people wait so long to file bankruptcy is because they are overly concerned about what it will do to their credit. There are a number of bankruptcy myths floating around that make people fear the worst, and this is ...
  • 5-Apr-2013

    Michigan Brewing Co. Founder Files Consumer Bankruptcy

    The Michigan microbrewer Bobby Mason, founder of Michigan Brewing, Co., of Webberville has filed for Chapter 7, the debt liquidation bankruptcy, listing his assets at $3,236 and his liabilities at over $8 million dollars. Bobby Mason, from rural ...
  • 20-Feb-2013

    Fighting Back Against Wage Garnishment

    One of the more aggressive ways creditors can go about collecting on unpaid debts is to secure a court order for the garnishment of your wages. If you have failed to pay your debt, according to the terms of your agreement, and your creditor has taken ...
  • 14-Feb-2013

    I Was Just Told My Car Was Going To Be Repossessed, What Can I Do?

    Any time an individual falls behind on their agreed-upon loan payments, whether a mortgage loan, a car loan, a loan for furniture, electronics or appliances, or any other type of secured loan, they are facing the very real risk of having those items ...
  • 8-Feb-2013

    Classic Video Game Giant, Atari, Files For Chapter 11 Bankruptcy

    Atari, the video game giant responsible for classic video games like Pong and Asteroids, recently announced it has filed for Chapter 11 bankruptcy. According to reports, filing for bankruptcy was simply one aspect of an overall plan to split from ...
  • 9-Jan-2013

    Avoid These Common Bankruptcy Mistakes

    Filing for bankruptcy protection can be a life-altering event that can turn your life around for the better. However, when debtors make the following mistakes, they can jeopardize their chances of achieving a successful bankruptcy and in some cases, ...
  • 4-Jan-2013

    Top 5 Reasons to File Chapter 7 Bankruptcy

    If you are contemplating filing for bankruptcy but are overly concerned about what filing might do to your credit and your financial future, it's a good idea to consider what filing for bankruptcy CAN do for you. The top five reasons for filing ...
  • 2-Jan-2013

    Pharmacy Linked to Deadly Meningitis Outbreak Files Bankruptcy

    The pharmacy linked to the deadly meningitis outbreak has filed for Chapter 11 bankruptcy according to Fox News. The Massachusetts based New England Compounding Center shut down operations last October after a tainted shipment containing vials of ...
  • 30-Nov-2012

    After Mediation Fails, Hostess Again Asks Judge to Authorize Liquidation

    Hostess Brands Inc. made international headlines when, after negotiations with the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union failed again, they announced that Hostess was closing its doors and going out of business. ...
  • 29-Nov-2012

    Parents and Grandparents Being Bankrupted by Student Loans

    When a student wishes to attend college or university it is not uncommon for them to take out a student loan in order to help pay for their tuition, books and other school-related expenses. Since most of these new students are recent high school ...
  • 28-Nov-2012

    U.S. Funded EV Battery Maker Files for Bankruptcy

    A123 Systems, Inc. is a U.S. based company that makes lithium ion batteries for electric vehicles. As part of the Clean Energy Program, the EV battery maker was able to apply for and receive a $249 million dollar federal grant from the U.S. Energy ...
  • 27-Nov-2012

    Former CSI Star, Gary Dourdan, Files for Bankruptcy

    According to reports, actor and former CSI star, Gary Dourdan filed for bankruptcy protection earlier this year on the same day he filed an injunction in an effort to prevent Wells Fargo bank from auctioning off his home and property. Court documents ...
  • 8-Nov-2012

    Creditor Harassment: Put an End to It

    While bankruptcy can have many benefits, possibly one of the most advantageous facets of filing for either Chapter 7 or Chapter 13 bankruptcy is that creditor harassment can be put to a stop. No one deserves to be called relentlessly until they pay ...
  • 31-Oct-2012

    Student Loans Not Automatically Discharged in Bankruptcy

    When most people think about filing for bankruptcy, they are under the misconception that the bankruptcy will discharge all their outstanding debts. That is not necessarily true. There are a variety of debts which are not automatically discharged as ...
  • 22-Oct-2012

    Top 5 Reasons for Bankruptcy in the U.S.

    With increasing financial hardships related to the American economy, there have been a number of individuals filing for bankruptcy. Previously seen as a more drastic measure, bankruptcy has become a much more accepted practice that can prove to be ...
  • 17-Oct-2012

    Not All Serious Debt Issues Lead to Bankruptcy

    Bankruptcy is only one of many options available to anyone who has found themselves buried under a mountain of debt. The option you choose, however, strongly depends on your existing financial situation. Bankruptcy is not for everyone. That is why it ...
  • 21-Sep-2012

    GM on Track for a Second Bailout?

    According to a report released by Forbes magazine, it would appear that General Motors will be seeking a second bailout in the near future. The magazine pointed out that the company is once again losing market shares and that it is unable to develop ...
  • 7-Sep-2012

    Project L.I.V.E. to Provide Foreclosure Assistance

    As part of the Detroit Rescue Fund, the non-profit program is established to provide assistance with financial literacy and housing counseling to those in the Detroit area. It is funded by the Department of Housing and Urban Development. They hold ...
  • 24-Aug-2012

    Wayne County Holds Auction for 22,504 Homes

    Next month a record of 22,504 properties are going up for auction. These properties foreclosed due to unpaid taxes and are a true testament to devastating effects from the real-estate crash. In the past three years, Wayne county has foreclosed on ...
  • 10-Aug-2012

    Olympic Families Dealing With Bankruptcy

    According to The Wall Street Journal, even those who are successful athletes have financial struggles. Recent Olympic Gold Medalist, Gabby Douglas, is known for her talent and passion for her gymnastics, but it came at a cost. Paying for this level ...
  • 9-Aug-2012

    Tips Before Filing Bankruptcy

    In order to determine if bankruptcy is really the best choice for you particular financial situation, you must consider certain factors. It is advantageous to fully investigate all of your options by doing your homework. Here are a few steps to take ...
  • 9-Jul-2012

    Former Mayor's Sister Files Bankruptcy

    Ayanna Kilpatrick, the sister of Detroit's former Mayor Kwame Kilpatrick has filed for Chapter 7 bankruptcy protection. Some of her creditors included Nordstrom, Macy's, Discover and DTE Energy. She owed more than $345,000 to various ...
  • 5-Jul-2012

    Detroit Author and Real Estate Broker Files Chapter 11

    Ralph Roberts, a prominent metro Detroit real estate broker and author has filed for Chapter 11 bankruptcy protection from creditors including his own mother. The 55-year-old author of real estate books such as "Foreclosure Self-Defense for ...
  • 3-Jul-2012

    Jamal Lewis Bankruptcy Hits Roadblocks

    On May 27, the world first heard that former NFL running back Jamal Lewis filed for bankruptcy due to his inability to manage his $14 million dollars worth in assets in order to pay his $10 million dollars in financial obligations. A month later, ...
  • 30-Jun-2012

    Detroit: On the Brink of Bankruptcy

    Detroit – Once the center of American automotive manufacturing with jobs galore during its powerful reign is now facing bankruptcy unless the state of Michigan is able to come up with $80 million dollars desperately needed to keep the city ...
  • 28-Jun-2012

    Capitol Bancorp Ltd. Facing Bankruptcy

    Lansing, MI – Capitol Bancorp Ltd., a holding company with banks throughout Michigan has been struggling financially for years. In an attempt to keep the company above water, it is voluntarily restructuring the company while it prepares for the ...
  • 12-Jun-2012

    Bankruptcy: The Hard Choice

    Wow, it seems like it was yesterday when I nervously sat down with my first clients to see if I could help them through their financial crisis. As I asked the young couple questions about their incomes, I couldn't help but reflect on my own ...
  • 5-Jun-2012

    Detroit NFL Player Files for Bankruptcy

    A former Detroit Lions defensive tackle, Luther Elliss, has filed for bankruptcy despite his high-dollar income. Eliss didn't fall prey to the outrageous and luxurious spending habits that ensnare many other NFL players and professional athletes; ...
  • 30-May-2012

    Detroit Faces Financial Woes

    There are few who would disagree with someone who said that Detroit's government needs to become more efficient at spending money. The city is struggling to stay afloat financially while trying to move into the 21 st century with their IT ...
  • 16-Mar-2012

    Welcome to our Detroit Bankruptcy Blog

    We are pleased to announce the launch of our Detroit Bankruptcy Blog.

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