The national downward trend in bankruptcy filings does not, unfortunately, signal a trend that the economy is improving; rather, it reflects debtors’ realizations that bankruptcy is not a fiscal panacea. One out of every 70 U.S. households files for bankruptcy.
While no one wants to think about having to file Bankruptcy, sometimes it is something that cannot be avoided. If you are thinking of bankruptcy in Michigan, there are a few steps you can take to help you select the best bankruptcy lawyer Michigan has to offer.
When selecting bankruptcy lawyers in Michigan, first begin by word of mouth. Most banks as well as friends and colleagues will be willing to give you recommendations, whether they have considered filing bankruptcy in michigan or not. Narrowing down these suggestions to bankruptcy attorneys in michigan who have experience with similar cases is crucial to a successful case.
Discuss with Michigan bankruptcy attorney candidates how many similar cases they have worked on, and do not be afraid to talk numbers. The truth is, it is possible to rebuild your credit score after a declaration of bankruptcy if you are properly informed and utilize the right legal representation. In some instances, under Chapter 13 bankruptcy, you repay all or part of your debt under a 3 to 5 year repayment plan.
The right representation will keep you informed of key information such as this before filing bankruptcy in Michigan. While the process can certainly be emotional, try to make decisions based on what is best for you and your financial decision rather than your emotions. Proper research means a better result for your case, which is ultimately the point, is it not?