Bankruptcy Law - Non-Exempted Assets

If, after the meetings of creditors, the bankruptcy trustee decides that you have nonexempt property, you may be required to either surrender that property or provide the trustee with its equivalent value in money. If the property isn't worth a lot or would be difficult for your trustee to sell, your trustee may "abandon" the property -- which means that you don't have to surrender it, even though it is not exempted in full. Your bankruptcy lawyer will advise you if this is the case.

The majority of property owned by Chapter 7 debtors is either exempt or is essentially worthless for purposes of raising money for the creditors. For that reason, few debtors end up having to handover any property, unless it is collateral for a secured loan.

For information on our bankruptcy services or to speak with one of our Grand Rapids bankruptcy attorney, feel free to give us a call at (616) 920-0555.

Medical Bills in Bankruptcy

Medical bills are treated just like creditcards in Bankruptcy. You can discharge medical bills and no longer be responsible to pay those with a Chapter 7 or Chapter 13 Bankruptcy.  If you qualify for Chapter 7 Bankruptcy you will be able to wipe out your medical bills.  If medical bills are dragging you down, please contact us at (616) 920-0555 to help you out. We are located in Grand Rapids, Michigan and our lawyer would love to help you out.