Wolfson Bolton Kochis is Proud to be the consumer bankruptcy lawyer, serving clients throughout the Great State of Michigan, with offices in both the Upper and Lower Peninsulas. We regularly appear and represent our clients in both the Eastern and Western Federal District Bankruptcy Courts.
Our top priority is ensuring that you move through this process seamlessly, leading to results that will give you the peace of mind you need to focus on your future. Our goal is to provide you with the highest quality representation at a reasonable price.
When you choose Wolfson Bolton Kochis PLLC, you will be given the same respect, courtesy, and attention that we give to our corporate clients, no matter how large, or small, the matter. Our office is centrally located in Troy Michigan and a quick drive from almost every community in the greater Detroit area.
Our firm is maximizing its ability to serve you virtually with phone calls and videoconferencing. Wolfson Bolton Kochis PLLC is proud to offer no-contact, full-service bankruptcy representation to ensure our clients' health remains a priority. Choose Michigan's Leading Consumer bankruptcy attorneys serving the Tri-County Area, Genesee and Livingston Counties, and all of Northern Michigan including the Upper Peninsula today.
Call (248) 609-1855 or Contact or contact our consumer debt attorneys today for a safe and seamless road to financial recovery.
Chapter 7 Bankruptcy - What is it and how does it work?
Chapter 7 Bankruptcy is designed to extinguish unsecured debts, allowing you to get on with your life as quickly as possible. It is the fastest and most straightforward type of bankruptcy available for individual consumers, making it a popular choice for many.
Filing for Chapter 7 Bankruptcy will give you the breathing room you need to focus on payments that are most important, such as:
- Your home loan
- Car loan
- Or lease payment
Choosing Chapter 7 also allows you to surrender a home, car or other secured property that you decide not to keep.
What is the Chapter 7 Bankruptcy Process?
After meeting with one of our experienced Chapter 7 Bankruptcy attorneys for a free initial consultation, you will be asked to provide key documents, including:
- A current credit report
- Proof of income
- And the estimated value of your assets
We will use these documents to prepare your bankruptcy petition. You will meet again with your bankruptcy attorney to review and sign your petition, which is filed electronically with the Federal Bankruptcy Court.
You will attend a brief meeting of creditors with your attorney approximately four to six weeks after your case is filed. A Chapter 7 Bankruptcy discharge is typically granted approximately two months after your meeting of creditors.
How is it different from Chapter 7 and what are the advantages?
Chapter 13 Bankruptcy provides additional benefits above and beyond a Chapter 7 filing. Chapter 13 Bankruptcy will allow you to stop a pending foreclosure or repossession by giving you time to cure missed payments.
Similarly, it will provide you with time to repay:
- Property taxes
- Water bills
- Or other liens on collateralized property you want to keep
If you do not qualify for Chapter 7 Bankruptcy based on the amount of your income, or if you choose to retain assets of value, such as:
- A second home
- Or your business
Chapter 13 allows you to keep your assets by re-paying some of your debts over time.
How Does it Work?
Our Chapter 13 Bankruptcy attorneys will help you keep any property that has sentimental value or is important to you and your family. This is accomplished through a payment plan that will be based on what you can afford, and the value of the special assets you seek to protect. You pay what you can afford to pay while discharging what you cannot afford to pay.
Chapter 13 Bankruptcy also consolidates all of your debts into a single monthly payment. Through your individual reorganization, creditors agree to accept a lesser amount and/or a longer-term repayment of your debts. Payment plans generally last from three to five years, depending on your circumstances.
Bankruptcy is a highly specialized practice with many nuances. An individual who is unfamiliar with federal bankruptcy law is likely to face many challenges. It is always advised that consumers considering filing for bankruptcy not only consult with, but hire experienced bankruptcy counsel to assist with this technical process.
A single misstep, error or omission in the filing and handling of a case may result in:
- The loss of property
- Valuable assets
- Or loss of the bankruptcy discharge itself
Determinations made by the bankruptcy court may have a life-changing impact. When handled by an experienced and knowledgeable attorney, a bankruptcy can provide significant benefits and relief.
Conversely, an individual who chooses to file on his or her own, or with an inexperienced attorney, may experience difficulties including significant fines or, in egregious cases, federal imprisonment.
Contact us online to get started on your consumer bankruptcy case today.
I am very impressed with their professionalism. I got Michelle Bass and she is professional, smart, dedicated and a great asset to your team.Vanessa S.
Michelle's integrity is beyond reproach. She treated us with understanding and dignity from the beginning of the process to the end.Kenneth T.
Michelle guided me through the process and today, almost seven years later, my Experian credit score is back to 825.Lynn I.
I highly recommend Michelle Bass!Marty G.
I have no reservations about recommending Michelle Bass as your bankruptcy attorney.Jonathan M.
She specializes in bankruptcy and if you want your case handled correctly and properly, Michelle should be your first and only stop.David F.
As a personal bankruptcy attorney, there is none better.Lenny H.
She communicates extremely well and she does everything she tells you she will do in a timely manner.David C.
Her years of experience in the field of consumer bankruptcy are apparent in the quality of her representation.Morry H.
Thank you for a job well done.Randy M.
Troy, MI 48083