Best Bankruptcy Lawyers Waterford, MI

Waterford, MI Bankruptcy FAQs

• Where do I file for bankruptcy in Waterford, Michigan?

  For bankruptcy filings in Waterford, the usual procedure involves submitting your bankruptcy petition and accompanying documents to the United States Bankruptcy Court for the Eastern District of Michigan. The specific address for the Detroit division, which handles bankruptcy filings for Waterford, is 211 W Fort St., Detroit, Michigan 48226.

• Where can I get bankruptcy forms in Waterford, Michigan?

  To obtain bankruptcy forms in Waterford, you can visit https://www.uscourts.gov/forms/bankruptcy-forms. Local forms for Waterford residents can be found at https://www.mieb.uscourts.gov/local-forms.

• Which kinds of debts are dischargeable when you initiate bankruptcy proceedings in Waterford?

  When initiating bankruptcy proceedings in Waterford, debts that meet the criteria for discharge can be eliminated. These include business debts, medical bills, credit card debts, auto loans, judgments, unpaid rent, personal loans, specific tax debts, collections, and utility bills. However, certain types of obligations, like student loans and unpaid child support, are generally ineligible for discharge. Yet, there are situations where discharging student loans can be possible by demonstrating that repayment would result in an overwhelming level of hardship for you.

• Is it possible for you to obtain financing in Waterford for a new vehicle following bankruptcy?

  If you need to purchase a vehicle while enrolled in a chapter 13 program in Waterford, you will need to obtain approval from the court. You could ask for a list of dealerships with experience in similar circumstances from your lawyer. For chapter 7 cases, you can try purchasing a vehicle immediately after receiving your discharge, provided you have sufficient income. While you may initially face higher interest rates, they should not be excessively burdensome.

• What is the duration of a chapter 13 plan in Waterford?

  Depending on your unique situation, a normal chapter 13 plan in Waterford is typically recommended to last between 30 and 60 months. During the course of your case, your attorney can extend the plan's duration if required, but it is strictly prohibited for the plan to exceed 60 months. You can expedite plan completion by refinancing or paying the remaining balance in advance.

• Is it necessary to participate in a court proceeding upon filing for chapter 7 or 13 bankruptcy in Waterford?

  Attending hearings is necessary for both chapter 13 and chapter 7 bankruptcy cases in Waterford. The section 341 first meeting of creditors (341 hearing) is the mandatory hearing for chapter 13. if all requirements are fulfilled beforehand, the second hearing, known as the confirmation hearing, may be avoided. For joint filers, both individuals must attend the 341 hearing. For chapter 7, the section 341 first meeting of creditors is typically the sole hearing required.

• What's the procedure for a joint bankruptcy in Waterford?

  When filing for a joint bankruptcy in Waterford, both you and your spouse will be required to disclose all debts in a single petition, regardless of whether they are individual or shared. This petition, along with the necessary paperwork, will be submitted to the bankruptcy court, including any assets you wish to safeguard. Both parties' dischargeable debts should be eliminated following the bankruptcy process without the need to submit separate petitions.