Get A Free Case Evaluation Today 866-665-8095 HOME FIRM OVERVIEW ATTORNEYS PRACTICE AREAS BLOG ARTICLES CONTACT BANKRUPTCY OVERVIEW Crafting personalized and efficient legal solutions for you and your family. Home » Bankruptcy Overview Understand The Basics Of Bankruptcy At the Michigan law firm of Marrs & Terry, PLLC, our goal is to use the bankruptcy process to help clients get a fresh start on their financial future. The first question most people have when they are considering filing for bankruptcy is “What can bankruptcy do for my financial situation?” The answer to that question depends upon the type of debt you have, your income and the type of bankruptcy filing you can make. Chapter 7 bankruptcy is designed to eliminate the majority of unsecured debt. You will have the option of keeping or surrendering most items that you still owe money on. Chapter 7 can be filed upon meeting the requirements of a bankruptcy means test. Chapter 13 bankruptcy allows you to reorganize your debts and reduce your payments. You will have a payment plan that will last for three to five years. What Bankruptcy Can Do For You We understand that losing your job or income, experiencing a medical emergency, a divorce or any number of other situations can lead to overwhelming debt. The discharge of debt offered through bankruptcy is designed specifically for people who face these situations. Many people worry that they will lose all their property if they file bankruptcy. We educate our clients honestly about the realities of protecting their assets. We also educate about alternatives to bankruptcy, including debt consolidation and debt negotiation. Bankruptcy immediately: Prevents creditor harassment Prevents foreclosure Prevents repossession Prevents wage garnishment Prevents lawsuits The immediate impact is the result of the automatic stay that goes into place upon filing bankruptcy. In some cases, filing also allows you to strip your second mortgage. We Can Guide You Through Bankruptcy Thousands of people like you have turned to the bankruptcy lawyers of Marrs & Terry, PLLC. We help clients put the stress of debt in the past while finding a new, solid financial ground. We can do the same for you. We are well-versed in all bankruptcy matters, including: Bankruptcy and divorce Tax implications of bankruptcy Credit counseling and rebuilding after bankruptcy Our attorneys can guide you through the process, showing you the bright side of bankruptcy. If you have been told you do not qualify for Chapter 7 or Chapter 13, you should talk to one of our experienced attorneys for a second opinion. We Are Here To Help. Contact Experienced Attorneys Today. To discuss your case with our Ann Arbor bankruptcy attorneys, call us toll-free at 866-665-8095 or contact us online. We bring more than 18 years of experience to every case, and we offer in-home appointments upon request. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. Practice Areas Bankruptcy Overview Filing For Bankruptcy Chapter 7 Chapter 13 Advantages Of Chapter 13 Loss Of Income Debt Discharge Secured Debt Unsecured Debt Credit Card Debt Student Loan Debt Federal Levies/Income Tax Levies Medical Debt Student Loan Cosigners And Bankruptcy Asset Protection And Exemptions Can You Keep Your House And Property? 401K And Pensions Reaffirmation Agreements Bankruptcy vs. Debt Consolidation Debt Negotiation Prevent Creditor Harassment Prevent Foreclosure Prevent Repossession Prevent Wage Garnishment What Do I Do If I Have Been Sued? What Is The Automatic Stay? Stripping Your Second Mortgage Bankruptcy And Your Divorce Tax Implications Of Bankruptcy Credit Counseling And Rebuilding After Bankruptcy The Bright Side Of Bankruptcy Second Opinions About Bankruptcy Secured And Unsecured Debt Stop Foreclosure Stop Wage Garnishment Tax Issues Related To Bankruptcy Credit Counseling And Rebuilding Your Credit Choosing The Right Attorney Buying A House, Car Or Boat After Bankruptcy Home Foreclosure Alternatives Loan Modifications Short Sales Bankruptcy Qualifiers Bankruptcy Terms And Definitions Bankruptcy Frequently Asked Questions Divorce And Family Law Estate Planning Criminal Defense Civil Litigation SSDI Overview Contact The Firm ANN ARBOR OFFICE 6553 Jackson Road Ann Arbor, MI 48103 Toll Free: 866-665-8095 MAP & DIRECTIONS Phone: 734-418-0365 | Fax: 734-663-9973 JACKSON OFFICE 209 E. Washington Suite 258 Jackson, MI 49201 Toll Free: 866-665-8095 MAP & DIRECTIONS LANSING OFFICE 120 N. Washington Suite 363 Lansing, MI 48933 Toll Free: 866-665-8095 MAP & DIRECTIONS ADRIAN OFFICE 247 S Main Street Adrian, MI 49221 Toll Free: 866-665-8095 MAP & DIRECTIONS KALAMAZOO OFFICE 251 N Rose St Suite 200 Kalamazoo, MI 49007 Toll Free: 866-665-8095 MAP & DIRECTIONS MIDLAND OFFICE 1164 James Savage Suite A Midland, MI 48640 Toll Free: 866-665-8095 MAP & DIRECTIONS ROYAL OAK OFFICE 418 N Main Street Suite 228 Royal Oak, MI 48067 Toll Free: 866-665-8095 MAP & DIRECTIONS GRAND RAPIDS OFFICE 250 Monroe NW Suite 424 Grand Rapids, MI 49503 Toll Free: 866-665-8095 MAP & DIRECTIONS Facebook Twitter LinkedIn © 2021 Marrs & Terry • All Rights Reserved Disclaimer | Site Map | Privacy Policy | Business Development Solutions by FindLaw, part of Thomson Reuters Share This