Bankruptcy Course Options for Western District of Michigan
Bankruptcy law requires most debtors in bankruptcy to take a pre bankruptcy credit counseling course and a post bankruptcy filing financial management course. The course is available both online and over the phone. Above are some course locations approved in the Western District of Michigan. If you’ve retained Iskin Law Firm PLLC to represent you in a bankruptcy, you can provide the course company the designated attorney code so that a copy of the certificate of completion is provided. Note that the pre bankruptcy credit counseling course must be completed within 180 prior to filing a bankruptcy.
Chapter 7 Bankruptcy: Often referred to as a liquidation or liquidating bankruptcy, Chapter 7 bankruptcy is available to both individuals and businesses. In Chapter 7 bankruptcy, a trustee is appointed to sell non-exempt assets and belongings of Chapter 7 debtors. But, THERE IS HOPE! DEBTORS DON’T HAVE TO LOSE ALL THEIR STUFF! If you are considering filing Chapter 7, contact a skilled bankruptcy attorney today to maximize the exemptions used to protect your belongings.Chapter 13 Bankruptcy: In a Chapter 13 bankruptcy, individual debtors propose a generally 3 to 5 year plan of payments to creditors by way of a trustee. The plan must pay creditors what they would receive in a Chapter 7 bankruptcy, and provide all of a debtor’s disposable income. Debtors should contact a skilled bankruptcy attorney to keep their Chapter 13 plan payments as low as possible.Chapter 11 Bankruptcy:Generally thought of as a corporate bankruptcy, Chapter 11 bankruptcy is available to corporations, and to individuals, usually who have too much debt for Chapter 13 and too much income for Chapter 7. Chapter 11 bankruptcies are more complicated bankruptcies, and involve a payment plan and solicitation of votes from creditors for acceptance of the plan.Chapter 9 Bankruptcy: Chapter 9 bankruptcy is the reorganization of a municipality. Sadly, this one has hit the news more in recent years thanks to insolvency in Detroit, San Bernadino, and Stockton, California.Chapter 12 Bankruptcy: Chapter 12 bankruptcy is like a Chapter 13 bankruptcy, but with nuances for family farmers and family fisherman.Chapter 15 Bankruptcy: Probably the bankruptcy chapter you are least likely to have heard of before, a Chapter 15 bankruptcy is one that involves debtors, assets, claimants, and other parties of interest involving more than one country.