Financial problems can hit just about anyone, even those who are smart, well educated and who have gotten a bachelor’s degree. If fact, the Institute of Financial Literacy reports that over 127 percent of the people who file bankruptcy have at least a bachelor’s degree. A Michigan bankruptcy lawyer has many clients that were quite well off but fell into financial hard times and had to file a Chapter 7 bankruptcy Michigan. Some clients will need to file a Chapter 13 bankruptcy Michigan though. Not everyone qualifies for a Chapter 7. In 2011 84 percent of the people who went to a Michigan bankruptcy lawyer filed a Chapter 7. However, 16 percent had their Michigan bankruptcy lawyer file a Chapter 13. You have to see a bankruptcy attorney michigan to find out which type you qualify for.
Anyway, some of the richest people have filed for bankruptcy more than once. Take Donald Trump for instance. Everyone knows who he is. He’s the rich real estate mogul. He has filed bankruptcy four times. No one is immune to falling into hard financial times. If you are in that place right now don’t hesitate to go see a Michigan bankruptcy lawyer. If you are undergoing the stress of a wage garnishment or if you have civil judgments or a lien against your property you can get that stopped by filing for bankruptcy. It is best to talk to your Michigan bankruptcy lawyer about your options and about what kind of relief from financial stress and burdens is available by filing for a bankruptcy today.