If you are experiencing mounting debt and financial obligations because of job loss, illness, divorce, or any other reason, there is a light at the end of the tunnel. Seasoned Oakland County bankruptcy lawyer Ronald S. Siegel can help you understand the protections available to you under Chapter 7 or Chapter 13 of the United States Bankruptcy laws, and he can guide you through the procedures and requirements to stop creditors from garnishing your wages and bank accounts, foreclosing on your home, and even calling and harassing you at home and at work. And if it is in your best interests to try to negotiate settlements with creditors in lieu of filing bankruptcy, he will explore those possibilities with you as well.Chapter 7
One of the most common options for people needing to eliminate burdensome debt through the Bankruptcy Code is Chapter 7. For debtors who meet the means test, which takes into consideration the debtor’s income, living expenses and other factors, Chapter 7 has the potential to eliminate unsecured debt such as credit card bills, medical bills, and personal loans or guarantees. Of course, some debts, such as child support, taxes, and government-secured student loans, may not be dischargeable under federal law, and some debtors may opt to reaffirm debts in order to retain possession of their vehicles. Attorney Ronald S. Siegel will personally meet with you and analyze your income, living expenses and assets to determine if you are eligible for Chapter 7 relief and whether Chapter 7 is the best solution for you. He will take you through an actual Chapter 7 case from start to finish so that you will know what to expect and have a thorough understanding of the process and the time frame. Attorney Siegel’s goal is to provide you with a complete understanding of your rights and responsibilities under Chapter 7 so that you can make the best decision for you and your family.Chapter 13
Chapter 13 is commonly referred to as the “wage earner” plan or “reorganization.” It is available for persons who either have too much income to qualify for Chapter 7 or who want to protect their home from foreclosure and make arrangements to repay delinquent mortgage payments over an extended period of time. They can potentially do so while reducing (and in some instances eliminating) unsecured debt, such as credit cards and medical bills. Typically in Chapter 13, a debtor proposes a plan to pay a portion of their debt over a three- to five-year period. The percentage of debt that ultimately will be paid is a function of the total amount and types of debt as well as the debtor’s assets, income, and monthly living expenses. After successful completion of the Chapter 13 plan, any remaining unsecured debt is eliminated, or discharged. Once a debt is discharged in bankruptcy, the creditor may no longer make any efforts toward the collection of the debt.
Attorney Ronald S. Siegel has more than 30 years of experience and familiarity with Chapter 13 requirements. He will meet with you and review your income, living expenses, and debts, and he will prepare a proposed plan that is both affordable and acceptable to the court. He will show you an actual Chapter 13 case from start to finish so that you will know what to expect and have a thorough understanding of the process and the time frame. Any questions that you have will be answered as well. Bankruptcy attorney Ronald S. Siegel provides Oakland County residents and other Michigan debtors with a complete understanding of their rights and options under Chapter 13 so that they can make the best decision for them and their families.Other Practice Areas
Our office also handles other types of bankruptcies, such as business bankruptcies under Chapter 11, as well as matters related to foreclosures, wage garnishments, and levies. We pride ourselves on collaborating with each individual client to find a solution that fits their unique situation.Discuss Your Needs with a Bankruptcy Lawyer in Oakland County
A useful way to put an end to the stress, worry, and hardship that accompany high-debt situations is to talk to consumer law attorney Ronald S. Siegel about your legal options. Regardless of which route you choose, having an accurate knowledge of your legal rights and responsibilities is essential. Oakland County bankruptcy attorney Ronald S. Siegel assists debtors in Farmington Hills, Pontiac, Southfield, Waterford, Detroit, Livonia, Dearborn, Flint, Sterling Heights, and Roseville, as well as other communities in Oakland, Wayne, Macomb, Genesee, Livingston, and Washtenaw Counties. Call us at 248-646-4600 or contact us online to schedule your confidential case evaluation.