https://newyorkstatelaw.org/2013/02/17/filing-for-chapter-7-michigan-bankruptcy/

It’s an act of law that protects individuals and companies that cannot pay their debts. The person or the organization could choose to liquidate assets or establish an repayment plan to pay back the debts if they declare bankruptcy. The person who’s a debtor in bankruptcy is the individual who has the creditor a loan. A bankruptcy petition can be filed petition either voluntarily or by creditors. While this process can grant you a fresh start it also stains your credit history, which makes difficult for you to be credited at a later date.

It is possible to check your bankruptcy records online using the search engine Public Access to Court Electronic Records. Pro se is the most common definition of bankruptcy. In light of the numerous legal terms used in the litigation process, it’s ideal to engage an experienced bankruptcy lawyer to represent you before the court. A seasoned attorney can help you determine whether or not to file bankruptcy. They’ll also guide on how to fill out the paperwork required and how you can reduce your debts to a minimum, the options available and any remaining issues.

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