Bankruptcy
Individual Debtors - We represent individuals who are in need of bankruptcy protection or need a "fresh start" from their creditors. This can be accomplished by the filing of a Chapter 7 (Liquidation) or 13 (Re-payment Plan). The issues regarding whether you should file a Chapter 7, 13 or no bankruptcy at all will be discussed with you after receipt of your financial information through the preparation of the petitions and schedules.
Upon the completion of the bankruptcy, assuming there are no objections by creditors or the trustee, you would obtain a bankruptcy discharge. As you may be aware a bankruptcy on your credit report may affect you for many years, so the analysis of the need to file must be discussed thoroughly before filing. This involves an analysis of your exempt and non-exempt property. For example, you have the option of choosing from Federal or State exemptions that allow you to protect some of your equity in your car, home and other personal property.
You will be represented in the filing of the Petitions and Schedules and through the 341 hearing before a bankruptcy trustee. We also assist in preparing Reaffirmation Agreements (to keep certain debt, i.e. car or house). If additional services are required subsequent to the 341 hearing such as a 2004 exam or the filing a responce to an objection filed by a creditor or trustee, we can represent you for an additional fee.
Creditors: We have represented creditors in protecting their debts. This can be accomplished by many different legal maneuvers including, filing proofs of claims and objections to a debtors exemptions and discharge of debts. This can be accomplished by filing motions to lift the automatic stay to proceed with collection remedies in state court or to pursue on a security or by filing of an Adversary Case proceeding requesting that certain debts be declared non-dischargeable from the backruptcy.
Examples of Creditors Claims:
- Michigan Builder Trust Fund Defense: The Michigan Builders Trust Fund Act MLA 570.151 et. seq. imposes a trust on sums paid to a building contractor for the benefit of laborers, subcontractors, and material suppliers engaged to work on a construction project. You may have a claim that your debt is non-dischargeable for the builder's violation of this trust fund act.
- Real Estate owners may want to collect lease rentals and/or property.
- Object to the exemptions claimed by the debtor.
- Objecting to the debtor's general discharge.
- Objection to discharge of debt because of false representations, actual fraud and/or misrepresentation.
This list is not meant to be exclusive and many defenses exist in the law.
Before you give up trying to collect your debt, talk to the law firm of Harry, McMillen & Fiederlein, L.L.P. to analyze the pros and cons of pursuing your legal remedies.
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