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May 1, 2008
Today, in the United States, states have created usury laws in order to set a maximum legal interest rate limit. Because Congress has chosen not to regulate interest rates on a national level, individual states have made the decision to to protect their consumers. Unfortunately, the usury cap is still at a very questionable rate and in the last twenty or so years it has only risen. In the state of Michigan, the usury rate is currently 25%. Which begs the question, why have interest rates been allowed to soar to such outrageous amounts?
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January 28, 2008
As it stands now, Chapter 13 bankruptcy is the most effective tool in saving your home from foreclosure. It allows you to get caught up, while freeing you from other debt you may have. However, there is a call to allow bankruptcy judges to help even more. Jack Kemp, the former secretary of Housing and Development, recently wrote an opinion for the Los Angeles Times. In it, he outlines changes that could make Chapter 13 bankruptcy more helpful to homeowner ’s and the economy in general.
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Personal Bankruptcy Lawyers |
Bankruptcy comes in two varieties:
personal bankruptcy (sometimes called Consumer
Bankruptcy) and business bankruptcy.
A personal bankruptcy -- also called Consumer
Bankruptcy -- is the right to discharge a debt
by an individual or a married couple. This is
usually what people think of when they hear
about filing
bankruptcy.
The
business bankruptcy is what a major
corporation or business will file when
they want to file bankruptcy. This type
of filing is usually a Chapter 11 bankruptcy.
These are very complex cases, and often
to go to a bankruptcy attorney who specializes
in this specific subcategory for bankruptcy
information.
 While you could file personal
bankruptcy filing in michigan on your own, you really are better
of using the services of a bankruptcy attorney.
A lawyer who does nothing but Michigan
bankruptcy can spot ways to help
you save property using Michigan exemptions,
and will battle the creditors who fight your
attempts to make them go away. Good bankruptcy
lawyers can help you save thousands of dollars.
We're Michigan
bankruptcy attorneys (serving Wayne County, Livingston County and Macomb County / Washtenaw County ), and will be more than happy
if you chose to contact us.
If you're an individual and feel that there
is no way out of your debt troubles, because
you are facing losing your house and want to stop
foreclosure, wage
garnishment or just want to stop
the creditor
harassment, you'll want to learn
more about Chapter
7 bankruptcy or bankruptcy
Chapter 13.
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