Monday, February 22, 2010
Click here to visit my main site for more articles, videos and contact infornation
Click here to visit my main site at www.bankruptcy-in-michigan.com to see more articles, instructional videos and direct contact information. Thank you. Mike Shovan (989) 233-9389
Thursday, November 5, 2009
Do you have to show your beneficial interest in a family trust that owns a vacation home in Michigan?
Yes, more than likely, you would have to disclose your beneficial interest in the trust as an asset in your Chapter 7 bankruptcy in Michigan. However, in order to render a final opinion, I would need to carefully examine the trust document and other available exemptions.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
What is the New Fannie Mae Deed for Lease Program?
Fannie Mae has announced a Deed for Lease Program for homeowners facing foreclosure which will allow them to stay in their homes. You will be able to stay in your home if you sign a lease when you voluntary transfer of the property deed back to Fannie Mae. You simply execute a deed in lieu of foreclosure and then pay market rent to stay in your house.
Rent cannot be more than 31% your gross income. Leases can be up to 12 months with the possibility of term renewal or month-to-month extensions after that
period. If the property is sold, your lease would be assigned to the new buyer.
This exciting new program is designed for homeowners who do not qualify for a loan modification. In addition, the house must be your primary residence and any junior liens or second mortgages must be released.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
Rent cannot be more than 31% your gross income. Leases can be up to 12 months with the possibility of term renewal or month-to-month extensions after that
period. If the property is sold, your lease would be assigned to the new buyer.
This exciting new program is designed for homeowners who do not qualify for a loan modification. In addition, the house must be your primary residence and any junior liens or second mortgages must be released.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
Monday, November 2, 2009
What is the fundamental goal of the bankruptcy law in Michigan?
The goal of the bankruptcy laws is to give you a “fresh start.” The US Supreme Court has emphasized the policy of a “fresh start” stating:
It gives to the honest but unfortunate debtor a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.
Once your discharge is entered, you are forever released from personal liability for your dischargeable debts. Your creditors are barred from ever taking any action against you.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
It gives to the honest but unfortunate debtor a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.
Once your discharge is entered, you are forever released from personal liability for your dischargeable debts. Your creditors are barred from ever taking any action against you.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
Is there a meeting of my creditors in my bankruptcy in Michigan?
Yes, this meeting of your creditors is referred to as your 341 hearing. It is called a 341 hearing because it is required by section 341 of the US Bankruptcy Code. Under section 341, you are required to attend this hearing so that your creditors can question you about your debts and your claimed exemptions. The 341 hearing is presided over by the trustee.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
Will you have to appear before a Judge in your bankruptcy in Michigan?
No, probably not. Your involvement with the Bankruptcy judge is usually quite limited. In a Chapter 7 case, you will only have to appear in front of the Judge if one of your creditors files an objection to one of your objections or to the dischargeability of one of your debts. In a Chapter 13 case, you will only have to appear before the Judge at the hearing on the confirmation of your repayment plan.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
Is Bankruptcy governed by federal law enacted by the US Congress?
The US Constitution authorizes Congress to enact laws relating to Bankruptcy. Bankruptcy is a federal law that is governed by the federal court system.
Bankruptcy procedure is governed by the Federal Rules of Bankruptcy Procedure as well as local rules of each bankruptcy court. The bankruptcy courts the Eastern District of Michigan Northern Division is located in Flint and in Bay City. The presiding bankruptcy judge is the Hon. Daniel Opperman.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
Bankruptcy procedure is governed by the Federal Rules of Bankruptcy Procedure as well as local rules of each bankruptcy court. The bankruptcy courts the Eastern District of Michigan Northern Division is located in Flint and in Bay City. The presiding bankruptcy judge is the Hon. Daniel Opperman.
If you have any questions about Bankruptcy in Michigan, call the law office of Michael J Shovan PLC right now at (877) 233-9389 and speak to an attorney who can answer your questions. Michael J Shovan PLC is a debt relief agency.
NOTICE: THIS POST IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOT INTENDED TO CONSTITUTE LEGAL ADVICE NOR WILL ANY EMAIL OR INTERNET BASED COMMUNICATION ESTABLISH AN ATTORNEY CLIENT RELATIONSHIP. ANY ATTORNEY CLIENT RELATIONSHIP WILL BE ESTABLISHED BY A WRITTEN AND SIGNED RETAINER AGREEMENT.
BECAUSE THE LAW IS CONSTANTLY CHANGING THIS INFORMATION MAY CHANGE. IF YOU NEED LEGAL ADVICE PLEASE CALL AN ATTORNEY AT MICHAEL J SHOVAN PLC AT (877) 233-9389.
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