Law Office of
Lucido & Manzella, P.C.
39999 Garfield Road
Clinton TOWNSHIP, MI 48038
(at 17 1/2 Mile Rd)
586-228-3900

Evening And Weekend
Appointments Available

Our Counselors and Attorneys at Law:

We also have locations in
Harper Woods and Royal Oak.
Call for more details.

Bankruptcy

There are two forms of bankruptcy, called chapters, that are appropriate for use by the general public.

Are you having a hard time paying your bills? Are you just able to make the minimum payments? Lack of money is a problem in the lives of most Americans. Most work hard to get ahead, but many people just live from paycheck to paycheck, struggling and hoping that next week they will have the money to pay last week's bills. However, often the unforeseen happens, be it losing a job, a medical emergency, or even a death in the family. When something like this happens, mounting credit card and medical/personal bills just swallow up many people. There is a way out of this endless cycle: "Debt Relief." Let our office's in-house "Debt Relief Agency" make out a plan to guide you through these financial difficulties and get you back on track to financial stability.

Forms of Bankruptcy
There are two forms of bankruptcy, called chapters, that are appropriate for use by the general public. These are Chapter 7 (the liquidation plan) and Chapter 13 (wage-earners plan). The other bankruptcy forms, those normally not associated with the general public, include Chapter 9, which deals with municipalities; Chapter 11, which deals primarily with corporations; and Chapter 12, which deals with farmers.

Chapter 7
A Chapter 7 bankruptcy is designed for individuals or companies in financial difficulty that do not have the ability to pay their existing debts. The purpose of filing a Chapter 7 bankruptcy is to gain a discharge of existing debts. A discharge, simply put, wipes clean existing debts, including some forms of income taxes that are over three years old, so that the "discharged" debts need never be repaid. Simply, you get a "fresh start" in your financial life. Under a Chapter 7 bankruptcy, a neutral third party (United States Trustee) takes possession of your personal estate, including all of your property. However, certain property such as your home, your car, your furniture, and your clothes, all within certain established limits, may be kept after the bankruptcy is granted.

Chapter 13
A Chapter 13 bankruptcy is designed for individuals with regular income who are temporarily unable to pay their debts, but are able to pay a significant portion of the debt via installments over a period of time.

If you feel as if you are drowning in a sea of bills, your life preserver is "Debt Relief" through the Law Office of Lucido & Manzella, P.C. Contact us anytime so that we can stop the harassing phone calls and put you on the road toward regaining control of your financial life.