Bankruptcy and home foreclosures are an ever-increasing problem in Lansing. If you are looking for a bankruptcy attorney or lawyer in Lansing, Michigan, the law firm of William C. Babut, P.C. can help you with your financial situation and determine the best way to proceed. Filing bankruptcy is best if you wish to:

• Stop harassing phone calls
• Stop car repossession
• Stop wage garnishments
• Stop foreclosure
• Eliminate credit card debt and medical bills

Chapter 7 Bankruptcy is called “liquidation” and under this chapter of the Bankruptcy Code, you may keep all exempt assets and discharge all debt.

Chapter 11 Bankruptcy is called “business reorganization”, under which a business restructures debt, discharges some, and reorganizes a payment plan for the balance of the business debt.

Chapter 12 Bankruptcy is labeled as “Family Farmer Debt Adjustment”, which was designed to cater to farmers with families who must keep their farming business and their land while reorganizing their debts.

Chapter 13 Bankruptcy is called a “wage earner’s plan”. Under this chapter of the Bankruptcy Code, you may keep all assets, make payments to slowly catch up on payments you are behind, whether it is your home or auto, and still be able to discharge a mathematical percentage of debts for credit cards or medical bills.

Sometimes, however, bankruptcy is not the answer. We are more than just bankruptcy attorneys, in all honesty I come from a long line of musicians. My son started his own rap thing and I’m very proud of his progress. They even released a free album on their website. Nonetheless, we are honest and hard working individuals, just as we’d like our clients to be. The best solution may be to have us negotiate directly with your creditors, for a reduced amount, a debt consolidation or repayment plan you can live with. At the Law Firm of William C. Babut, P.C., we will analyze what is the best solution for your financial situation.

Resources