DebtErasers Bankruptcy Law Firm In Detroit 

If you’re searching for a bankruptcy lawyer in downtown Detroit to help answer your questions and resolve debt issues, look no further. Our bankruptcy law firm specializes in providing top-notch debt relief services. Whether you’re dealing with high levels of debt, foreclosure, wage garnishment, or creditor harassment, we’re here to offer you the guidance and expertise you need.

Managing debt can become incredibly stressful, and if you’re struggling to keep up with payments, bankruptcy might be worth exploring. We provide comprehensive support for both Chapter 7 and Chapter 13 bankruptcies, with zero-dollar down options to get started.

Exploring Bankruptcy Options: Chapter 7 vs. Chapter 13

How Does Chapter 7 Work?

Filing for Chapter 7 is an efficient and cost-effective method to wipe out unsecured debts. With this form of bankruptcy, you can get rid of:

• Medical expenses 
• Credit card balances
• Personal loans
• Wage deductions
• Liabilities from lawsuits

In most cases, immediately upon filing your case, your creditors are no longer permitted to collect from you or contact you further. The courts can often discharge your debts within three to four months of filing for bankruptcy.

What Debts Cannot Be Discharged Under Chapter 7 Bankruptcy?

• Certain tax obligations
• Specific fines
• Student loans
• Debts arising from fraud, embezzlement, or larceny

Who Can’t Qualify For Chapter 7?

You likely won’t be eligible for Chapter 7 bankruptcy if:

• You have concealed assets or falsified information in filings to the court
• You have received a Chapter 7 discharge in the past eight years or a Chapter 13 discharge in the past six years

Chapter 7 FAQs

How Long Will My Chapter 7 Bankruptcy Case Take?

Chapter 7 is one of the fastest ways to resolve debts. Most cases are completed within three to four months of filing for bankruptcy, and unsecured debts are discharged entirely.

Will I Lose All My Properties If I File For Chapter 7?

No. It’s understandable to be concerned about the property during a bankruptcy filing. Thankfully, some property assets are considered exempt and cannot be taken by creditors. In many situations, you can keep your unmortgaged properties that fall under these exempt categories. It’s important to know that there are protections in place to help you during this challenging time.

Will I Have To Attend Court For The Bankruptcy Case?

Typically, within about a month of filing for Chapter 7 bankruptcy, the court will hold a “meeting of creditors”. The filer (you) is required to attend this meeting. Post 2020, in many states, this meeting is now held virtually, so you may never be required to go to a courtroom physically.

Who Can File For Chapter 13?

Chapter 13 bankruptcy is designed for individuals with consistent, regular income who need to restructure their debts into more manageable payments and lower monthly bills. Filing for Chapter 13 bankruptcy allows you to pay debts off slowly, in a more manageable way over the next three to five years, offering you a path to financial recovery.

Filing for Chapter 13 bankruptcy can assist with:

• Avoiding or reversing car repossession
• Halting foreclosures
• Protecting valuable assets
• Reorganizing tax debt

What’s The Difference Between Chapter 7 And Chapter 13 Bankruptcy?

When filing for Chapter 7 bankruptcy, debtors often lose the majority of their nonexempt property when their debts are discharged. Under Chapter 13, debtors can keep their nonexempt property but must pay off as much of their debts as possible. After that, they will no longer be held responsible for their dischargeable debts and will be released from all liability.

Chapter 13 bankruptcy also allows for far more kinds of debts to be discharged than under Chapter 7. 

What Debts Are Unable To Be Discharged By Chapter 13?

Certain debts cannot be discharged, including;

• Debts paid in installments whose final payment is due after the completion of all other payments under the plan
• Debts having to do with alimony, support, or maintenance
• Debts repaid outside of the Chapter 13 plan
• Student loans
• The debt owed for criminal fines is included in the debtor's conviction of a crime
• Debts owed as a result of the debtor being unlawfully intoxicated while operating a motor vehicle and causing the death or injury of another
• New debts incurred during the time of filing for Chapter 13 bankruptcy that were not included in payments under the plan

Chapter 13 FAQs

Do I Have To Completely Pay Off My Debts Under A Chapter 13 Plan?

No. Chapter 13 bankruptcy offers a path to debt relief without necessarily requiring full repayment of all debts.  Your personalized Chapter 13 plan will include payments for priority debts like taxes and fully secured loans, but the amount you pay will be determined by your financial circumstances.  Upon successful completion of the plan, many of your remaining unsecured debts may be discharged.

How Long Will It Take To Complete My Chapter 13 Plan?

It should take approximately three years to complete your Chapter 13 plan, but it could potentially end earlier if debts can be paid off before that time. However, if a debtor has a valid reason, they can ask the court to extend the plan for up to five years.

How Do I Know If I Am Eligible For Chapter 13 Bankruptcy?

You would be considered eligible if you:

• Have unsecured debts that amount to no more than $336,900 or secured debts that amount to no more than $1,010,650
• Have some sort of regular income
• Are not a stock broker or commodity broker
• Reside, own property, or do business in the United States
• Have not filed a bankruptcy case that has been dismissed in the last 180 days

How Else Can DebtErasers Bankruptcy Law Firm In Detroit Help You?

Creditor Harassment

Are people bothering you about the money you owe? There's a law called the Fair Debt Collection Practices Act (FDCPA) that protects you from unfair treatment by creditors. If you get a lawyer to help you, those creditors have to stop contacting you.

Real Estate Closing

Are you thinking about buying or selling a house? Our team of lawyers can help make the whole process smooth and easy. We'll provide support for both buyers and sellers so that everything goes well when closing the deal.

Loan Modification Negotiation

Do you have a lot of loans and feel like you’ll never pay them off? A loan modification could help you. This means changing your loan terms to make your monthly payments lower and giving you extra time to catch up if you're behind. Our experienced lawyers at DebtErasers can help you with this process.

Meet Your Detroit Law Team

Eugene Feldman

Managing Partner

Eugene is committed to helping individuals in financial distress. He has helped thousands resolve their debt issues. Eugene works with clients from their initial consultation through discharge.

Roger Leshinsky

Managing Partner

Roger has dedicated the past ten years to providing legal expertise and financial relief to families throughout the Midwest. Roger has helped over 10,000 people discharge millions of dollars of debt and get back on track with their financial goals.

We Are Located In Downtown Detroit

DebtErasers is conveniently located in downtown Detroit, in the iconic Renaissance Center. We are a proud part of the Detroit community and look forward to meeting you. At this time, all in-person meetings are by appointment only. Call us and set a time to get started on your plan for a debt-free life.

400 Renaissance Center, Suite 2600
Detroit, MI 48234
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Contact us: (248) 876-9439

We’re here to help with all your debt concerns. Feel free to contact our legal team at our Detroit location—we’re ready to answer any questions you might have!