Bankruptcy Overview

Michigan Chapter 7 Bankruptcy Cases 

Detroit Chapter 7 Bankruptcy Lawyer

Chapter 7 is one of the most common and least complicated forms of bankruptcy. As a bankruptcy attorney who has handled thousands of Chapter 7 filings, I can help you understand how this type of bankruptcy may be beneficial to your case. I am Walter Metzen, a lawyer that has been assisting clients and practicing law in Detroit, Michigan for over 14 years. My goal is to get you the debt relief you need in order to regain control of your debts and alleviate the stress that your financial troubles may be causing.

In a Chapter 7 filing, a list of all your outstanding debts is made. These are the debts that may be discharged completely. This is different from a Chapter 13, where your debts are reorganized and structured payment plans are created. In a Chapter 13 plan, you repay the portion of your debt that you can afford over a 3 to 5 year repayment plan and the remainder is discharged by Order of the Bankruptcy Judge. Click here to learn about the GOAL of BANKRUPTCY.

After the Chapter 7 filing, your creditors receive notice that the bankruptcy has been filed; are given an opportunity to object to the bankruptcy or to file claims to retrieve collateral under security interests they hold; and also barred from harassing you due to a stay Click here to learn about the AUTOMATIC STAY IN BANKRUPTCY and Click here to read excerpts from the UNITED STATES CHAPTER 7 TRUSTEE HANDBOOK that is in place prohibiting such actions. An experienced bankruptcy attorney like me can help you determine which debts are subject to liens or not dischargeable. Michigan Chapter 7 Trustee Handbook

Contact a Detroit Chapter 7 Bankruptcy Lawyer that, not only fully understands the bankruptcy process, but also can realistically advise you of your options. Feel free to schedule your free initial consultation. During this time, we can discuss your case and I can help you take charge of your financial situation. Please review my Frequently Asked Questions about Bankruptcy page for more information or feel free to call the Office at 313-962-4656 or 888-777-FILE.

What Is Chapter 7 Bankruptcy The answer to this question lies in the answer to a broader question: "What is the ultimate aim of filing for bankruptcy?" Please review my Chapter 7 Frequently Asked Questions page for more information. If filing for bankruptcy is an opportunity for a debtor to emerge out of a financial crisis and start afresh, then Chapter 7 of the Bankruptcy Code is the way to achieve this end relatively faster. Under Chapter 7 of the Bankruptcy Code all non-exempt property of the debtor is sold and the proceeds of the same are distributed to the creditors. In most cases where Chapter 7 is brought into force the debtor has no assets to lose, therefore the fresh start takes place relatively faster. CLICK HERE for an explanation of Michigan Bankruptcy Terminology How Can I Be Sure This Is The Best Way? Also known as liquidation (converting assets into money) or a straight bankruptcy, Chapter 7 Bankruptcy is the most common form of bankruptcy filing. This type of bankruptcy filing accounts for as much as 65% of all Consumer Banking filings. Detroit Chapter 7 Bankruptcy Filing Information As mentioned before, this is one of the faster ways of starting afresh, and more so if there are no objections from any of the parties involved. Ordinarily, most (if not all) debts would be discharged within months of the attorney filing a bankruptcy petition. How Does Chapter 7 Bankruptcy Work? A trustee is appointed who collects all non-exempt property, sells the assets and distributes proceeds from this sale to appropriate creditors. Chapter 7 is different from other bankruptcy filings because the debtor needs not make a payment to the trustee. Click here for a LIST OF MICHIGAN CHAPTER 7 TRUSTEES Even though in some cases this would mean that you will lose all your assets, this need not always be the case. It is strongly recommended that if you are apprehensive and feel you will lose your assets, discuss the matter with your Bankruptcy Attorney. Under Chapter 7 Bankruptcy, the debtor receives a discharge on all dischargeable debts. There are 19 general classes of debt, such as child support, most taxes and student loans that are discharged under Chapter 7 Bankruptcy. Information about the Bankruptcy Process in Michigan page for more information or feel free to call the Office at 313-962-4656 or 888-777-FILE.


An added advantage with Chapter 7 bankruptcy is that by signing a reaffirmation agreement a debtor can continue to pay for a car loan or a mortgage on their home. This agreement is in place because as per the US Government Bankruptcy Code a debtor could be allowed to retain some or all of his property. Who Can File For A Chapter 7 Bankruptcy? The reverse of this question would be more appropriate to answer. Debtors engaged in business would usually not like the prospects of liquidation and Chapter 11 might be a better option for such individuals associated with corporations and partnerships. Also, individuals with regular income if in a debt situation would be better suited to file a Chapter 13 bankruptcy. CLICK HERE for an explanation of Michigan Bankruptcy Terminology Also, any person who has been granted a Chapter 7 discharge (or completed a Chapter 13 plan) within the last 8 years, cannot file for a Chapter 7 bankruptcy plan. How Do I File For A Chapter 7 Bankruptcy? Once you get down to filing for Bankruptcy you'll know exactly what we mean by repeating that our attorneys know best! Filing for bankruptcy is the fulfillment of a clearly laid of set of rules and procedures, but it is as complex as it seems simple. You need to be sure about just one thing: "Do you need to file for bankruptcy?" Once you've filled our evaluation form and got the answer to that basic question, in discussion with our attorneys give all details of your case. Be sure the information you provide is complete and correct. Once these preliminary things are taken care of, leave it to the attorneys to take your case to its logical conclusion.

Walter Metzen-Michigan Bankruptcy Lawyer-(313) 962-4656-Suite 3156 Penobscot Building, Detroit Michigan 48226-Serving the Entire Metro Detroit Area and Southeast Michigan for since 1993

 Contact me, bankruptcy attorney Walter Metzen to learn more about how I can help you get a Fresh Financial Start!.

Be sure to Obtain a copy of your Credit Report after your Michigan Bankruptcy Filing and check it for Mistakes.

Contact me, bankruptcy attorney Walter Metzen to learn more about how the new Chapter 7 bankruptcy law may affect your case. I offer a free initial consultation so we can discuss your case personally.

Bankruptcy attorney Walter Metzen represents clients throughout Southeast Michigan, including the communities of Detroit, Southfield, Warren, Roseville, Farmington Hills, Ann Arbor, Belleville, Canton, Clinton Township, Dearborn, Dearborn Heights, Hamtramck, Highland Park, Holland, Howell, Lincoln Park, Livonia, Macomb, Northville, Plymouth, Port Huron, Redford, Rochester, Saginaw, Southfield, Sterling Heights, Taylor, Trenton, Troy, Westland, Wyandotte, Ypsilanti, Mount Clemens, Howell, Oakland County, Macomb County, Wayne County, Washtenaw County, Livingston County, and all of the surrounding areas.