Sterling Heights Bankruptcy Lawyer

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Sterling Heights Bankruptcy Lawyer

Dealing with debt can feel like a never-ending battle. The constant worry, the mounting bills, and the incessant calls from creditors can make life incredibly stressful. However, remember this: bankruptcy laws exist for a reason. They are there to offer you a fresh start and to help you regain control of your financial life. At Lucido & Manzella, P.C., we understand your struggle and are here to assist you. Call our office today to begin working with a compassionate Sterling Heights bankruptcy lawyer who can explain your legal options for managing debt.

Purpose of Filing Bankruptcy

Bankruptcy is not an admission of failure but a legal tool designed to help people eliminate their debts or repay them under protection from the bankruptcy court. When you file for bankruptcy, collection actions by creditors stop immediately, giving you the much-needed peace and space to reorganize your finances.

As trusted Sterling Heights bankruptcy lawyers, Lucido & Manzella, P.C. has helped numerous clients regain their financial footing through bankruptcy filing. We are here to provide the same assistance to you.

Understanding Chapter 7 and Chapter 13 Bankruptcy

Broadly, bankruptcy filings for individuals fall into two categories: Chapter 7 and Chapter 13.

Chapter 7 Bankruptcy is often referred to as “liquidation bankruptcy.” It enables individuals to discharge most types of unsecured debt. While it may involve selling off some of your non-exempt property to pay back creditors, it often allows individuals to keep essential personal property.

Chapter 13 Bankruptcy, on the other hand, is more of a reorganization plan. It involves making payments based on a court-approved bankruptcy plan. This type of bankruptcy might be suitable for those who are not eligible for Chapter 7 or wish to protect specific assets.

Both Chapter 7 and Chapter 13 have advantages and disadvantages, and the right choice depends on your unique financial situation. At Lucido & Manzella, P.C., a skilled Sterling Heights bankruptcy lawyer can help you determine which type of bankruptcy aligns best with your financial goals.

What is the Means Test in Bankruptcy Cases?

The means test is a tool used to establish a debtor’s eligibility for filing Chapter 7 bankruptcy. It measures your financial resources and compares them against the median income within your state for a household of your size. If your income surpasses the median, you might not qualify for Chapter 7 and may instead need to file for Chapter 13 bankruptcy and set up a repayment plan.

Understanding how the means test works and how it impacts your bankruptcy case can be challenging. An experienced Sterling Heights bankruptcy lawyer can guide you through the means test and help you make informed decisions about your financial future.

Contact Lucido & Manzella, P.C. Today

Facing financial hardship alone can be daunting. But remember, you do not have to navigate this difficult time by yourself. When you need a trusted Sterling Heights bankruptcy lawyer, Lucido & Manzella, P.C., is here to assist you. Whether you are considering filing for Chapter 7 or Chapter 13 bankruptcy, our experienced team will guide you through every step of the process.

Take the first step towards regaining control of your finances today. Contact Lucido & Manzella, P.C. for assistance with your bankruptcy matters. Remember, a brighter financial future is possible, and it starts with a single step.

Talk To An Experienced & Aggressive Lawyer Today.

We offer a free initial consultation so you will get an opportunity to meet us, and we will have an opportunity to learn more about your legal issue.

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