Due to some changes that took place this year, some people who didn't previously qualify for chapter 7 bankruptcy in Michigan may now be eligible. The median income went up in Michigan on April 1, 2013. Then on May 1, 2013 the National Standards for living expenses also changed.

Filing bankruptcy is complicated and can result in mistakes if you aren’t careful. Failure to avoid common mistakes could result in your bankruptcy being dismissed. Knowing what to avoid can mean the difference between struggling financially, and getting back on the road to rebuilding your credit after bankruptcy.

Filing for bankruptcy is not something to jump into without any thought. Yes, it is in some cases the best way for an individual to get out of debt, but the way if affects your credit score can make it very difficult for someone who will need car loans after bankruptcy.

A lot of people thinking about filing for bankruptcy wonder if they should transfer their car out of their name before filing. This is because of all the misconceptions associated with bankruptcy that have people fearing the worst.

You may already know chapter 7 bankruptcy is a liquidation process so your Washington trustee has the legal right to take any personal assets with large amounts of equity to repay your creditors – which can include your car.

If you are filing chapter 13 bankruptcy, and want to keep a car with an upside-down car loan, you may be eligible to "cram down" the balance. This can allow you to hang onto a vehicle that is worth less than you owe, without having to pay the full loan amount. Read on to find out if you're eligible and how much you could save.

Often when you file for Chapter 7 bankruptcy, you still owe money on a car, and want to keep it as means of transportation for you and your family. There are two options in this case, loan reaffirmation or loan redemption. Today we will focus on what auto redemption in bankruptcy is, and if it’s the right choice for you.

Many people wonder what happens to their student loans when they file bankruptcy. Are these loans discharged like unsecured credit? Or do you have to repay them like taxes and child support?

Many people falsely assume that their car will automatically be taken away when they file bankruptcy, and that they won't be able to get an auto loan after bankruptcy for 7-10 years. Because of this, some people think that transferring the car out of their name before filing bankruptcy will save it from being liquidated. The truth is, not only does this not help you keep the car, but it can also be considered bankruptcy fraud.

When your debt seems out of control, you're probably willing to do anything to save some money. This may include trying to file bankruptcy without a lawyer. Because bankruptcy laws are so complicated, knowing when to hire a lawyer is important.