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Livonia Michigan Bankruptcy

Michigan Bankruptcy Blog

Archive for July, 2012

“X” is for Xerox of Your Financial Life in Bankruptcy

Posted by Peter Behrmann, Esq. On July 20th

“X” is for Xerox of Your Financial Life in Bankruptcy

When you file bankruptcy you have to fill out the bankruptcy petition.  You will go over your bankruptcy petition with me at our Livonia office before we file your case.  In a nutshell, the bankruptcy petition is a complete Xerox (Copy) of your financial picture.

Your bankruptcy petition has to contain all of your assets, all of your liabilities, all of your income and all of your expenses.  Basically, it should be drafted in a way that your bankruptcy Trustee can review the petition and at the end conclude that you really do need the assistance of a bankruptcy.  We don’t hide things from the bankruptcy petition.  We include everything that is required because both you and I have to sign the bankruptcy petition that the information provided in it is truthful and accurate.   

In order for us to make sure your bankruptcy petition is a complete Xerox of your life, we need you to provide us with the information we request and then lastly review the petition we drafted just to make sure we got everything correct.  After that we will make you a Xerox of the petition to take home and keep for your records.  Then we will file the petition with the court to get you your debt relief and a fresh start. 

Peter Behrmann is a Livonia Bankruptcy Attorney.  From my Livonia, Michigan location, I represent clients throughout Metro Detroit and beyond, including Garden City, Wayne, Westland, Redford, Dearborn, Taylor, Ann Arbor, Belleville, Northville, Novi, Farmington, Farmington Hills, Plymouth, Canton, and the Counties of Wayne, Oakland, Livingston, and Washtenaw. My practice is limited to helping consumers like you file Chapter 7 and Chapter 13 Bankruptcy, and Foreclosure Prevention.

Photo Credit: Leo Reynolds

Other Bankruptcy Attorneys Blogging on the Letter “X”:

  • Ex-Spouse – Maui Bankruptcy Lawyer
  • OEX – Santa Clara County Bankruptcy Lawyer, Cathy Moran
  • X-Factor – Wisconsin Bankruptcy Lawyer, Bret Nason
  • Xantusiidae – Cleveland Bankruptcy Attorney, Bill Balena 
  • Xenagogue – Omaha Nebraska Bankruptcy Attorney, Ryan D. Caldwell          
  • Xenocracy – Jay S. Fleischman, New York bankruptcy lawyer     
  • X Factor – Metro Richmond Consumer and Bankruptcy Attorney, Mitchell Goldstein         

“W” is for Wage Earner Bankruptcy

Posted by Peter Behrmann, Esq. On July 9th

“W” is for Wage Earner Bankruptcy (Chapter 13 Bankruptcy)

Chapter 13 Bankruptcy is often called “Wage Earner Bankruptcy” is a bankruptcy repayment plan that forces your creditors to settle their debts with you pursuant to Federal law. Chapter 13 forces creditors to settle their debt, stop interest, stop late penalties, and to get your payments on your mortgage or car current. 

Chapter 13 of the Bankruptcy Code is designed to enable individual debtors under Court protection and supervision to apply a portion of future earnings to the payment of a portion of their debts over an extended period of time. You are protected from creditors by an automatic stay while a plan of repayment is developed and carried out. I often use Wage Earner Bankruptcy for people who have fallen behind on their mortgage payment and been turned down for a mortgage modification to help them get current and save their home.  

In a Wage Earner Bankruptcy you have to file with the court a plan to repay your creditors all or part of the money that you owe them, using your future wages. The period allowed by the court to repay your debts may be three years or five years, depending upon your income and other budget factors.

After completing the payments under your plan, your debts are generally discharged just as they would be in a Chapter 7 Bankruptcy.  If you have used the Wage Earner Bankruptcy to pay on your home or car, you will come out of the bankruptcy with your mortgage being current and your car being paid off. 

Peter Behrmann is a Livonia Bankruptcy Attorney.  From my Livonia, Michigan location, I represent clients throughout Metro Detroit and beyond, including Garden City, Wayne, Westland, Redford, Dearborn, Taylor, Ann Arbor, Belleville, Northville, Novi, Farmington, Farmington Hills, Plymouth, Canton, and the Counties of Wayne, Oakland, Livingston, and Washtenaw. My practice is limited to helping consumers like you file Chapter 7 and Chapter 13 Bankruptcy, and Foreclosure Prevention.

Photo Credit: Leo Reynolds

Other Bankruptcy Attorneys Blogging on the Letter “W”:

 

“V” is for Value of Your Bankruptcy Attorney

Posted by Peter Behrmann, Esq. On July 3rd

“V” is for Value of Your Bankruptcy Attorney

 

I got it, you are having financial trouble and you need help.  You need an experienced, bankruptcy attorney to assist you in obtaining your debt relief and you need it now.  You don’t have a lot of money left, if any and the idea of coming up with any amount of money to pay a bankruptcy attorney scares you.  You call around and you start getting prices, $900 to $1,500 is an average price from firms that seem to know what they are doing.  You then happen to find an attorney willing to do your entire bankruptcy for $500.  You’re so happy that you found this $500 attorney that you forget about the most important factors of all, is this attorney really giving you the best value? Does this attorney really know what they are doing?  If all of the experienced attorneys that just practice in the field of bankruptcy are charging $900 to $1,500 how can this attorney do the exact same thing for $500?

 

Now you have two choices, I have seen people make both choices and I have seen the results.  Let’s say you hire the $500.00 attorney.  Maybe your petition is not filled out correctly. Maybe you lose an asset you should have kept.  Maybe they do not return your phone calls or practice due diligence in investigating your case before it is filed.  Maybe you never even receive your bankruptcy discharge because of your $500.00 attorney’s errors.

 

Now your second choice is to hire the competent bankruptcy attorney that knows what they are doing.  To date, I have filed just about nine hundred consumer bankruptcies, not one client has lost an asset that they did not know they were going to lose.  Also, there is not one client who has not received their bankruptcy discharge.  Just yesterday, a client hired me after saying “Mr. Behrmann, I found another attorney willing to do my case for $500.00 less then you, but I am hiring you.”  I think that speaks volumes to the level of value that we are providing to our clients.

 

I can promise that if you need debt relief we are not the cheapest bankruptcy attorney in town, nor are we the most expensive.  But we do and will provide you with the best value for your money.  We are caring and compassionate.  We will hold your hand and guide you through the bankruptcy process.  We will get you debt free. 

Peter Behrmann is a Livonia Bankruptcy Attorney.  From my Livonia, Michigan location, I represent clients throughout Metro Detroit and beyond, including Garden City, Wayne, Westland, Redford, Dearborn, Taylor, Ann Arbor, Belleville, Northville, Novi, Farmington, Farmington Hills, Plymouth, Canton, and the Counties of Wayne, Oakland, Livingston, and Washtenaw. My practice is limited to helping consumers like you file Chapter 7 and Chapter 13 Bankruptcy, and Foreclosure Prevention.

Photo Credit: Leo Reynolds

 

Other Bankruptcy Attorneys Blogging on the Letter “V”: