What Is It Like To Declare Bankruptcy?


Filing for bankruptcy can be a scary thing, but when the debt keeps mounting and you can’t see a way out, it may be your best option. Taking fear out of the equation makes the process much easier. Most fear comes from the unknown. What will bankruptcy mean for your life, your reputation and your time? Discovering the basics of the bankruptcy process will help put your mind at ease. It will also help you decide if filing for bankruptcy is the right option for you. So we ask:

What Is It Like To Declare Bankruptcy?

  1. It is not nearly as bad or scary as most people think. And if it’s the right option for you, it can actually eliminate a lot of stress and anxiety from your life.
  2. It doesn’t require that much for your time. You will usually have 3 to 4 appointments with a lawyer and one appearance in court.
  3. It won’t be publicized. A declaration of bankruptcy is not posted online or in the newspapers, so only people that you tell will know that you filled for bankruptcy.
  4. It will be over relatively quickly. In a chapter 7 bankruptcy, the process usually takes 6 to 8 months, but your involvement usually ends after 3 months and the rest of that time is just a waiting period.

To ensure that your bankruptcy goes as smoothly and quickly as possible, we strongly recommend working with a bankruptcy attorney. They will guide you through the process and help you understand everything along the way. An experienced law office will also help you plot a course for your financial future, one that will ensure your financial success.

If you are in the West Michigan area and have questions about bankruptcy, we at Mapes Law Offices are available to help. An honest, expert discussion with our attorneys will help you decide upon the best course of action. And our focus is not just on the short-term. We examine your financial status and recommend actions to help get you on stable financial ground for the long-term. We understand that life happens and our mission is to help good people through bad times. Our kind and understanding staff can help you onto the road toward financial freedom. To get the help you need, call us at (616) 719-3847 or schedule a free consultation appointment today.

Divorce & Bankruptcy

They say that some of the hardest things to go through in life include divorce and bankruptcy.

And if you’re facing both, it can feel extremely overwhelming. Many questions and concerns arise when discussing bankruptcy and divorce, especially because you have another party to think about, one that you might not be getting along with. Fortunately, you’ve come to the right place. We can help you navigate these troublesome waters and get the answers that you’ve been looking for. So, if you are in debt and are facing a divorce, what should you do?

  1. It is generally better to divorce before filing bankruptcy. This usually provides a smoother outcome for both parties.
  2. Consider filing for a chapter 13 bankruptcy. With a chapter 13 bankruptcy, debts owed to a former spouse can be discharged, but they can not be discharged with a chapter 7 bankruptcy. If these debts are not properly discharged under the appropriate bankruptcy, a former spouse could decide to sue in divorce court and force payment.
  3. The judgement of divorce should be scrutinized. This is where a bankruptcy attorney is very valuable. They will be able to scrutinize your divorce stipulations and help you decide which course of action is best.
  4. Know your options. Certain debts like child support and alimony cannot be discharged. However, getting rid of, or reducing, your other debts will make payment of those amounts much easier.

It can be tempting to run and hide when you’re facing divorce and bankruptcy. That’s why it’s important to get help. Instead of trying to understand bankruptcy on your own, visit Mapes Law Offices  to get a grasp on your financial situation.

With multiple locations in Western Michigan, we offer expert advice and planning to help you out of a financial crisis and into a stable financial future. We offer free consultations to understand your situation and recommend our course of action. We understand that life tosses curve balls and we pride ourselves on helping good people go through bad times. After meeting with us, you will feel empowered and at ease knowing that you have a viable plan for financial success.

Our skill, experience and compassion has helped many people navigate through bankruptcy and divorce. We can help you too. Call us today at (616) 719-3847 or request your free consultation and take your first step toward financial freedom.