Michigan bankruptcy laws help to understand the federal bankruptcy process along with
some of the common issues which pertain to Michigan residents.
If one is about to file a Michigan bankruptcy case, it is beneficial to first go for proper counseling regarding the bankruptcy law.
If your expensive assets are not covered under Michigan bankruptcy laws, exemptions and
you still wish to keep it; then you can opt for chapter 13.
Profits of chapter 13:-
- You can keep your property safe if you are earning well
- In chapter 13, your payment can be reduced
- You have instant protection against creditors’ collection efforts and wage garnishment.
- You can file your case more often.
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Why we see repeat bankruptcy cases in Chapter 11
There are more chances of same company filing the bankruptcy cases in chapter 11 again and again. This is not really worth it. what is the need to repeat?
