Sheehan & Associates, P.L.C.

Posts tagged "Bankruptcy"

Which common beliefs about bankruptcy are not true?

You already know that not everything you hear about any particular subject is true. As people discuss issues that affect their lives, they may embellish the truth, or they may simply have a poor understanding of the topic at hand. Bankruptcy is one subject around which a lot of myth has accumulated over the years. Unfortunately, many of these myths lead those struggling with debt here in Michigan to make poor financial decisions.

Differences exist between bankruptcy chapters

If there ever comes a point in which you realize that you are drowning in debt, you have to figure out what you are going to do about it. You have a few options here. You can ignore the fact that you owe money and continue on with your life, but this might come with suffocating collection attempts by the creditors. You can struggle to make the minimum payments and seemingly never make it out of the deep hole of debt. You can file for bankruptcy and walk away at the end with a fresh financial start.

Can bankruptcy help you with your finances in 2019?

The holidays are a tough time for many people, not only because of the emotional toll they can take but also because of the financial impact. Some people decide that they want to start January off with a fresh financial picture. If you are drowning in debt, you might be considering bankruptcy.

Bankruptcy has many benefits that you can enjoy when you file

A personal bankruptcy has many benefits, but most people focus on two. One of these is that you will be relieved of your personal debts. The other is that your creditors won't be able to harass you. These are both important, but you shouldn't let them cloud your judgment. We want you to think carefully about how the bankruptcy filing might change your finances now and how it might impact them in the future.

Some people aren't eligible for Chapter 7 bankruptcy

One of the primary questions that people have when they are going to file for bankruptcy is what chapter they will file under. The two primary forms of personal bankruptcy are Chapter 7 and Chapter 13. Both of these can offer the relief that you need, but they do have some very specific differences.

Simple lifestyle changes after bankruptcy can keep you debt-free

Before you breathe a massive sigh of relief after your bankruptcy, you need to understand that disaster can strike in the same place more than once. One of the largest mistakes we see Detroit residents make in the aftermath of bankruptcy is returning to their previous spending behaviors.

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Sheehan & Associates, P.L.C.
1460 Walton Blvd , Suite 102
Rochester Hills, MI 48309

Toll Free: 877-600-7891
Phone: 248-218-1473
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