HAVE A QUESTION? WE MAY HAVE ANSWERED IT BELOW.
Q: What isn't included when you file Chapter 7 or 13?
A: Since most debts ARE included, these debts are considered non-dischargable, with some exception. Student loans, tax debt incurred within the last 2 years, child support, spousal support and debt incurred through fraud, are typically non-dsichargable.
Q: What do I need to get started?
A: In general, proof of income for the past 2 months, tax returns for the past 2 years, and all of your debt information including name/address and amount owed. If you cannot find all of your bills, go to www.annualcreditreport.com and obtain a free credit report. You can bring this to your appointment.
Q: Can I keep my house and my car in a Chapter 7?
A: If you're current on these items and they don't have much equity, you should be able to keep them - but this is something you will want to discuss with your lawyer.
Q: My mortgage payments is too high. Can this be lowered through bankruptcy?
A: Sometimes we can do a loan modification separate from, or within the bankruptcy, which can have the effect of lowering your payment. If you have a rental property that's worth less than is owed, we can sometimes pay just the value of that and modify the mortgage claim to have it paid off over 60 months. If you have a mortgage that comes due for your residence, we can pay that off within 60 months as well. This CAN sometimes have the effect of lowering your payment on your home.
Q: How long does it take to be discharged in a Chapter 7?
A: Typically it's about 3 to 4 months after filing your case, and 60 days from your first court hearing.
Q: Is there a debt limit for filing Chapter 7?
A: While theoretically you could file a $1 worth of debt, or even a penny, it just doesn't make much sense to file if you have less than $5000 worth of debt.
Q: How soon after filing can you stop a garnishment?
A: While the garnishment may take about 2 to 4 weeks to stop completely, any funds taken AFTER filing your case must be returned to you. The reason it takes so long is that the creditor must issue a stop garnishment administrative closing to the State court, and then the Court must release the garnishment with your employer - this can take time.
Q: Can you get my money back that has been garnished?
A:To the extent the creditor took over $600 or more within 90 days prior to filing, yes.
Q: How soon after my discharge can I get more debt?
A: Almost immediately, but it isn't advisable because that's what brought you here in the first place.
SWEENEY LAW OFFICES, PLLC, located in Southfield, Flint, Ann Arbor,
Lansing and Brighton, Michigan, serves clients in the cities of Ann Arbor, Southfield, Flint, Fenton, Grand Blanc, Highland, Brighton, Sterling Heights, Clinton Twp, Ferndale, Royal Oak, Warren, Roseville, Oak Park, Huntington Woods, Livonia, Novi, Farmington, South Lyon, Fenton, Howell, Flint, Mt Clemns, Detroit, Bay City, Saginaw, Fenton, Holly, Walled Lake, Wixom, Milford, Hartland, Howell, Troy, Owosso, Lansing, Southfield, Mount Clemens, Pontiac and Birmingham and
surrounding areas including Metro Detroit and the counties of Wayne, Oakland, Macomb, Genesee, Shiawasee, Ingham, and Livingston, Michigan..
Sweeney Law Offices, PLLC is a debt relief organization committed to rescuing people from debt. We help people file for relief under the Federal Bankruptcy Code.
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