BANKRUPTCY
- Chapter 7 Bankruptcy Eligibility: You are eligible to file for Chapter 7 bankruptcy after eight years have passed from a previous Chapter 7 discharge, or six years have passed from a previous Chapter 13 discharge.
- Chapter 13 Bankruptcy Eligibility: You are eligible to file for Chapter 13 bankruptcy after four years have passed from a previous Chapter 7 discharge, or two years have passed from a previous Chapter 13 discharge.
- 180 Days Before Filing Bankruptcy: You must meet with an approved non-profit budget and credit counseling agency for an individual or group briefing within 180 before filing for bankruptcy.
- 90 Days Before Filing for Bankruptcy: You must have been a Michigan resident for at least 90 days before filing for bankruptcy. If you have not lived in Michigan for more than90 days, you must file for bankruptcy in your previous state.
- Your Case is Filed: Your case will officially begin as soon as you file the bankruptcy petition with the courts. A bankruptcy trustee will be appointed to oversee your case and ensure you are eligible for bankruptcy. The trustee is responsible for reviewing your petition, making sure everything has been completed, and scheduling a meeting with your creditors. The court will also notify all of the creditors listed in your petition of your bankruptcy, and enter an Automatic Stay, which will prohibit your creditors from trying to collect or take legal action against you.
- Four to Six Weeks After Filing Bankruptcy: The bankruptcy trustee will hold the Meeting of Your Creditors. You are required to attend this meeting. At the meeting, you will be required to testify under oath that your petition is accurate. If you fail to appear at this meeting your bankruptcy case will be dismissed and you will have to file all over again. Furthermore, if your creditors or bankruptcy trustee have any objections to your claims for exemptions, they have 30 days following this meeting to make their objections known.
- 60 Days After the Meeting of Your Creditors: Your case will be discharged after approximately 60 days from the date of your creditor’s meeting as long as the trustee does not file a motion to dismiss your case or your creditors object to the discharge of your debts.
- Education Classes: The new bankruptcy laws listed in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 require that you participate in a financial education and management course. If you do not complete these classes, then you will not be granted a bankruptcy discharge.
We are a debt relief agency. We help people file for bankruptcy protection under the Bankruptcy Code.