An Invitation To The Rest Of Your Life

James L. Gutting is known in the state of Michigan to provide liberating legal services that turn the page to the next great chapter of your life. Every year, more than a million people declare bankruptcy to seek relief from the duress of difficult financial circumstances. If you believe you’re one of the millions of Americans suffering from the weight of unpayable financial burdens and need to seek temporary shelter, you’ll need to start with an experienced financial lawyer to see you through the darkness of the woods before you.

What are my options?

You can turn to two different options when declaring bankruptcy depending on your situation. Chapter 7 bankruptcy oversees the process of liquidation. Chapter 13 focuses on devising a plan with your lawyer to pay off debt in regular installments over a 3 to 5 year span. But which one is ideal for you? If you’re regularly earning an income, Chapter 13 is ideal. Also known as “a wage earner’s plan,” Chapter 13 has many advantages and is widely considered a more viable option. When you declare bankruptcy under this chapter, you and your lawyer will begin by creating a plan to propose a repayment to your creditors. If successful, this will stop any foreclosure proceedings so you can still keep your home.

What about Chapter 7?

Chapter 7 bankruptcy begins with the debtor filing a petition with the bankruptcy court. After the initial petition is filed, the debtor must file a wide range of different documents pertaining to all financial transactions and holdings. Filing under Chapter 7 begins the process of liquidation, which means you will have to sell any assets including stocks, bonds, and find every area where you can pull money from to pay off your debts. This option can also put a temporary stop on most collection actions from your creditors. To learn more about Chapter 7, please contact me.

The Law Office Of James L. Gutting is committed to helping clients win back their lives. When hard times hit, you need a dependable bankruptcy lawyer in your corner to make sure you are protected and all court proceedings are fair. Declaring bankruptcy can be overwhelming and discouraging, but we are here to reassure you that it is merely an avenue to a new beginning. Our office is one a mission to help you turn the page and start fresh. Please reach out to us today to learn more about our services, and answer any questions you have. Together we can start building the foundation to a new and better tomorrow.