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.

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.

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.

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.

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.

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.

Sunday, November 1, 2009

How much will I pay for a Bankruptcy in Michigan?

It is important to realize that all fees in Bankruptcy cases are monitored by the Bankruptcy court. Fees for your particular case will depend on your circumstances. With a simple straight forward Chapter 7 case, you will pay a flat fee. If your case is more complicated, the fee will be adjusted accordingly. Make sure that you have a written retainer agreement with your lawyer. Our retainer agreement is posted on our website under forms.

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.

How do I know if filing Bankruptcy in Michigan is the right thing for me to do?

You want to carefully consider your options before you make a decision to file a Bankruptcy in Michigan. You will want to review the free reports that we provide and check out posts on our blog and watch some of the instructional videos.

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.

How do I pick a good lawyer for my Bankruptcy in Michigan?

The most important quality in any good lawyer is their level of compassion and there ability to follow up with and keep you informed on what is happening in your case. The other thing is really important is communication. Make sure that your attorney gives you his direct contact information and make sure that they have a strict policy to return calls or respond to email or faxes.

At the Bay Area Bankruptcy Clinic, we promise to return your call or respond to your email or fax within one business day of your request. For example, if you call me on Monday, I will respond to you no later than the close of business on Tuesday.
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 happens when I file for Bankruptcy in Michigan?

When you file your bankrutpcty petition in Michigan, an “automatic stay” goes into effect. Any action against you to collect on any of your debts must stop. The automatic stay stops the following:

Creditor Harassment,
Foreclosure,
Gambling Debt
IRS Collections,
Lawsuits,
Repossession,
Utility Shutoffs
Wage Garnishments

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.

I am an honest person and I have always pay my bills, how could I even think about filing Bankruptcy in Michigan?

You are not alone and you don’t have to feel guilty or be ashamed because you file Bankruptcy. The public policy that underlies Bankruptcy is help you get a fresh start. It is not designed to punish you. It is not penal statute.

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.

Why do people file for Bankruptcy in Michigan?

You may be overwhelmed with debt and not be able to make payments for any number of legitimate reasons including:

Job Loss
Illness
Medical Bills
Accident
Divorce
Bad Luck
Failed Business
Credit Card
Overextended
Overleveraged

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 famous people have filed bankruptcy?

What famous people have filed bankruptcy?


US Presidents including Abraham Lincoln, Ulysses S. Grant, William McKinley;

Professional Athletes including Joe Louis, Gaylord Perry, Leon Spinks, Lawrence Taylor, Mike Tyson, Johnny Unitas and Michael Vick.

Actors, Actresses and Music Stars Kim Basinger, Lorraine Bracco, Toni Braxton, Lenny Bruce, Anita Bryant, Tia Carrere, George Clinton, Natalie Cole, Gary Coleman, Francis Ford Coppola, Cathy Lee Crosby, David Crosby, Vic Damone Freddy Fender, Eddie Fisher, Mick Fleetwood, Heidi Fleiss, Red Foxx, Zsa Zsa Gabor, Marvin Gaye, Andy Gibb, Merle Haggard, Dorothy Hamill, M.C. Hammer, Isaac Hayes, Margaux Hemingway, La Toya Jackson, Don Johnson, George Jones, Grace Jones, Chaka Kahn, Buster Keaton, Margot Kidder, Marion “Suge” Knight, Cyndi Lauper, Jerry Lewis, Jerry Lee Lewis, Meat Loaf Willie Nelson, Wayne Newton, Ted Nugent, Johnny Paycheck, Tom Petty, Randy Quaid, Lynn Redgrave, Burt Reynolds, Debbie Reynolds, Mickey Rooney, Run DMC, Derek Sanderson, Billy Sims, Tom Sizemore, Anna Nicole Smith, Lynne Spears, Sheryl Swoopes, and Tammy Wynette.

Famous people that we all know include P.T. Barnum, Buffalo Bill, Mark Twain Walt Disney, George Frideric Handel, Rembrandt Oskar Schindler.

World famous business moguls including John DeLorean, William C. Durant, Henry Ford, Charles Goodyear, Bob Guccione, H.J. Heinz, Nelson Bunker Hunt, Larry King, Bowie Kuhn and Donald Trump.

Famous lawyers including Melvin Belli and Marvin Mitchelson.

Politicians including John Connally, George McGovern.

Famous crooks including E. Howard Hunt, Charles Keating.

And even Rich Dad Poor Dad author and speaker Robert Kiyosaki.

So you can see that if you do decide to file bankruptcy, you will be in good company.

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.

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.