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GRAND RAPIDS BANKRUPTCY ATTORNEY|GRAND RAPIDS BANKRUPTCY LAWYER- CHAPTER 7 & 13

The bankruptcy attorneys at Krupp Law Offices PC can answer your bankruptcy questions.  If you are facing financial problems, a good bankruptcy lawyer is a requirement! Our Grand Rapids bankruptcy attorneys can answer your questions about bankruptcy. Having the right bankruptcy attorney on your side can relieve your stress during your difficult financial times. Our bankruptcy attorneys have 95 years of bankruptcy experience.  We are located in Grand Rapids Michigan. We can provide you with superior bankruptcy representation.

Call Today For A Free Telephone Consultation & Speak To A Caring Attorney Who Can Explain Your Rights & Options under the Bankruptcy Code.

FREE PHONE CONSULTATION AT 616-459-6636

STOP – Repossessions, Foreclosures, Garnishments, & Creditor Harassment.

KEEP- Home, Car, Personal Property, and Retirement Accounts.

EXACT FEES QUOTED FOR MOST SERVICES

WHAT IS CHAPTER 7 BANKRUPTCY?

Chapter 7 bankruptcy provides for a discharge of your unsured debt such as credit cards,medical bills, reposessed cars, driver's responsibility fees.  You can keep your car and home and you pay nothing to the trustee.  You also keep your tax refunds.  The typical cost is 1350.00 (which inculdes the filing fee).  The process is about 90 days total and requires one appearance at the trustee's office. Chapter 7 Bankruptcy Information

WHAT IS CHAPTER 13 BANKRUPTCY?

Chapter 13 bankruptcy reduces your debt to what you can pay, not what you owe.  During your chapter 13 plan you will make payments that you can afford to the trustee for a period of 36 to 60 months.  You will also pay your tax refunds to the trustee during your plan.  A chapter 13 plan can be used to save a home in foreclosure. Chapter 13 Bankruptcy Information

HOW MUCH DOES A GRAND RAPIDS BANKRUPTCY LAWYER COST?

Typical fees to retain attorney for a chapter 7 bankruptcy case can range and from 1,000.00 dollars to as high as 5,000 dollars. Considering the seriousness of this life changing event, it is extremely important to retain the services of an experienced attorney in the area of bankruptcy. Bankruptcy Attorney Fees

HOW EXPERIENCED ARE THE GRAND RAPIDS BANKRUPTCY LAWYERS AT KRUPP LAW?

Our Attorneys have over 85 years of bankruptcy experience. Our lawyers have extensive bankruptcy experience in Chapter 7 and Chapter 13 bankruptcy including adversary proceeding with the trustee and creditors. Finding the right attorney for you is one of the most important decisions you can face. Krupp Law Offices P.C. has a attorney that can aggressively represent you are facing finacial problems or bankruptcy.

HOW DO I GET MY BANKRUPTCY STARTED?

Getting started on your bankruptcy is easy.  Just call our office.  You can speak with a Grand Rapids Bankruptcy Attorney at Krupp law for free.  We will answer all your questions.  We will also schedule an appointment to meet in our office.  If you are out of state or can not get away from work, we will do a phone interview.  We also have an online interview questionare that can help get you going.  BANKRUPTCY INTERVIEW PDF  FREE Credit Report

WHAT ARE FORMER CLIENTS SAYING ABOUT BANKRUPTCY ATTORNEYS AT KRUPP LAW?

"Thank you for being the kind of lawyer & person that helps people like me understand the legal system. I can't thank you enough." - unsolicited client letter

"...you are a true professional. I can't thank you enough!" -unsolicited client letter.

"Thanks for all your help with my divorce. I appreciate how easy you made everything for me during a difficult time. keep up the great work!" - unsolicited client letter

WHAT COURTS DO THE GRAND RAPIDS BANKRUPTCY ATTORNEYS AT KRUPP LAW REPRESENT CLIENTS?

Krupp Law Offices P.C. serves clients throughout West Michigan, including the counties of Kent, Ottawa, Allegan, Barry, Newaygo, Montcalm, and Ionia.

WHERE IS KRUPP LAW OFFICES LOCATED?

Krupp Law Offices - Bankruptcy Attorney Grand Rapids is located in downtwon Grand Rapids Michigan across from the court house.

161 Ottawa NW Suite 404, Grand Rapids MI 49503

GRAND RAPIDS BANKRUPTCY TOPICS:

Should I File Bankruptcy?

Bankruptcy Means Testing - Can I File?

Nonbankruptcy options

Bankruptcy - Attorney Fees

Exemptions - What Can I Keep?

Documents Needed for Bankruptcy

Chapter 7, 11, 12, 13

Common Questions Chapter 7

Common Questions Chapter 13

Business Bankruptcy

Life After Bankruptcy

Foreclosure & Bankruptcy

Bankruptcy and Divorce

Bankruptcy & Taxes

Chapter 7 Bankruptcy & Chapter 13 Bankruptcy

 

We are a debt relief agency and a Grand Rapids Bankruptcy Attorney. We help people file for bankruptcy relief under the Bankruptcy Code, in the greater Grand Rapids area.

GRAND RAPIDS BUSINESS BANKRUPTCY ATTORNEY  - COMMON QUESTIONS & ANSWERS

The Grand Rapids Business Bankruptcy Attorneys at Krupp Law Offices P.C. can answer your questions when your business is facing financial problems and you have questions about your chapter 7, Chapter 11, and Chapter 13, bankruptcy options.  It's important to have the representation of a good business bankruptcy attorney. Krupp Law Offices P.C. has been providing quality business bankruptcy representation for over 85 years. If your business is facing financial problems, call the business bankruptcy attorneys at Krupp Law Offices P.C. for a free phone consultation. During your phone consultation, our attorneys will provide you with free immediate answers to your questions and a schedule a free initial appointment with one of our business bankruptcy attorneys. 

CALL FOR A FREE PHONE CONSULTATION AT 616-459-6636

BUSINESS BANKRUPTCY - COMMON QUESTIONS AND ANSWERS

  1.  WHAT IS THE BUSINESS BANKRUPTCY PROCESS?

The first thing that needs to be done to determine if business bankruptcy is your best solution is to schedule an appointment with one of our attorneys.  At that meeting you will need to know the amount of your debts, the value of your business assets, your current monthly profit or loss, and be able to discuss the viability of your business going forward.  We need to understand your plan for your business going forward.  At that point we can discuss your nonbankruptcy options, business chapter 7 bankruptcy, business chapter 11 bankruptcy, and business chapter 13 options.  Each has benefits depending on what your objectives are for your business going forward.

2.  CAN I OPERATE MY BUSINESS DURING BANKRUPTCY?

It depends on what your plan is going forward and your cash flow.  In a chapter 11 bankruptcy the business continues to run while the bankruptcy proceeds.  In a chapter 7 bankruptcy, typically the business closes.  In a business chapter 13, a business can continue to be operated during the bankruptcy.

3. HOW DO I PAY FOR A LAWYER?

 You can use current assets of the business to pay for a business bankruptcy.  If necessary, assets of the business or inventory can be sold for attorney fees.

 

 4. WHAT SHOULD I DO IF A CREDITOR CONTACTS ME?

Tell them that you are working on a plan to get them paid.  Do not tell them that you are planning on filing for bankruptcy until you have consulted with an attorney.

5.  WHAT CREDITORS SHOULD BE LISTED, WHAT IF I FORGET A CREDITOR?
Under the bankruptcy code, you must make your best efforts to determine your creditors. All of your creditors should be listed. If you are unable to determine all of your creditors, we strongly suggest that you obtain a credit report from either TRW or Merchant Service Bureau (616-940-7100) Additionally, you may be able to obtain your credit report on the Internet at www.annualcreditreport.com.In the event that you forget a creditor we can add a creditor until your case is discharged. There is a fee of $100.00 for each additional amendment to your creditor list. After your case is discharged you may add a creditor provided that they were unknown at the time of your filing. At that point, they will be treated as discharged. This is done by filing a motion to reopen your bankruptcy case which can be done at any time for an additional fee.  You should contact your attorney immediately upon the discovery of an additional creditor.


6.  CAN I PAY MY CURRENT SUPPLIERS?

      Prior to paying supplies you should meet with an attorney to determine necessary vendors and which vendors will be unnecessary in the future.   The plan of reorganization my involve repaying necessary vendors that you will do business with in the future.

 

7.  WHAT DEBTS ARE NONDISCHARGEABLE UNDER CHAPTER 7?

      Generally, all debts are dischargeable under Chapter 7 including some tax obligations

 

8.  DO I HAVE TO FILE PERSONAL BANKRUPTCY IF MY BUSINESS FILES FOR BANKRUPTCY?

It depends on the extent that you have personally guaranteed the business debt and the current cash flow of the business.

 

9.  WHAT IF I HAVE FURTHER QUESTIONS?

In the event that you have further questions, please contact our office and we will be more than happy to answer them for you.

 

GRAND RAPIDS MICHIGAN BUSINESS BANKRUPTCY ATTORNEY

If your business is facing financial problems, a good business bankruptcy attorney is not optional, it is a requirement! Our business bankruptcy attorneys can answer your questions with straight talk. Having the right business bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy attorneys have over 85 years of bankruptcy experience. We can provide you with excellent bankruptcy representation.

Krupp Law Offices P.C. is located in downtown Grand Rapids, Michigan and has the right bankruptcy attorney for you. We represent clients in all bankruptcy matters throughout West Michigan, including the cities of Grand Rapids, Holland, and Grand Haven, and the counties of Kent, Ottawa, Allegan, Barry, Newaygo, Montcalm, Muskegon, and Ionia.

Call for a free phone consultation.  Our office can help.

KRUPP LAW OFFICES P.C.

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or  This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.

GRAND RAPIDS BANKRUPTCY TOPICS:

Should I File Bankruptcy?

Bankruptcy Means Testing - Can I File?

Nonbankruptcy options

Bankruptcy - Attorney Fees

Exemptions - What Can I Keep?

Documents Needed for Bankruptcy

Chapter 7, 11, 12, 13

Common Questions Chapter 7

Common Questions Chapter 13

Business Bankruptcy

Life After Bankruptcy

Foreclosure & Bankruptcy

Bankruptcy and Divorce

Bankruptcy & Taxes

ASK A GRAND RAPIDS BUSINESS BANKRUPTCY ATTORNEY A QUESTION

BANKRUPTCY INTERVIEW PDF

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GRAND RAPIDS BANKRUPTCY ATTORNEY - DOCUMENTS NEEDED TO FILE FOR CHAPTER 7 & 13

The bankruptcy attorneys at Krupp Law Offices PC can answer your bankruptcy questions.  If you are facing financial problems, a good bankruptcy attorney is not optional, it is a requirement! Our bankruptcy attorneys can answer your questions with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy attorneys have over 85 years of bankruptcy experience and are located in Grand Rapids Michigan. We can provide you with excellent bankruptcy representation.

 

CALL FOR A FREE PHONE CONSULTATION AT 616-459-6636

 

DOCUMENTS NEEDED TO FILE FOR BANKRUPTCY CHAPTER 7 & 13

There are a number of documents that we need to prepare your bankruptcy schedules.  Thes typical documents are as follows:

 

  1. List of your creditors (name address and approximate amount owed).
  2. The last 2 years of tax returns (4 years if it is a chapter 13)*
  3. List of all vehicle titles that are in your name.
  4. Copy of your auto insurance.
  5. Copy of 6 months of pay stubs or a printout of your wages.**
  6. Copy of the Deed, Mortgage, and State Equalized Value (SEV), and proof of insurance for all real estate you own.
  7. Copy of the last 4 months of bank statements for all accounts.
  8. Copy of the last retirement account statements.
  9. There may be other documents.  We will give you a list at your first appointment.

*  You can get your return from your tax preparer or the IRS can give you a tax transcript if you do not have your returns.

**  If you are self employed we need a monthly income and expense statement.  For social Security, your bank statements have your amount.

 

GRAND RAPIDS MICHIGAN BANKRUPTCY ATTORNEYS

If you are facing financial problems, a good bankruptcy attorney is not optional, it is a requirement! Our bankruptcy attorneys can answer your questions with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy attorneys have over 85 years of bankruptcy experience. We can provide you with excellent bankruptcy representation.

Krupp Law Offices P.C.  is located in downtown Grand Rapids, Michigan and has the right bankruptcy attorney for you. We represent clients in all bankruptcy matters throughout West Michigan, including the cities of Grand Rapids, Holland, and Grand Haven, and the counties of Kent, Ottawa, Allegan, Barry, Newaygo, Montcalm, Muskegon, and Ionia.

Call for a free phone consultation.  Our office can help.

KRUPP LAW OFFICES P.C.

161 Ottawa NW Suite 404

Grand Rapids, MI 49503

616-459-6636 or This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.

GRAND RAPIDS BANKRUPTCY TOPICS:

Should I File Bankruptcy?

Bankruptcy Means Testing - Can I File?

Nonbankruptcy options

Bankruptcy - Attorney Fees

Exemptions - What Can I Keep?

Documents Needed for Bankruptcy

Chapter 7, 11, 12, 13

Common Questions Chapter 7

Common Questions Chapter 13

Business Bankruptcy

Life After Bankruptcy

Foreclosure & Bankruptcy

Bankruptcy and Divorce

Bankruptcy & Taxes

ASK THE GRAND RAPIDS BANKRUPTCY ATTORNEY A QUESTION

BANKRUPTCY INTERVIEW PDF

GRAND RAPIDS BANKRUPTCY ATTORNEY FREE CREDIT REPORT - CHAPTER 7 & 13

The bankruptcy attorneys at Krupp Law Offices PC can answer your bankruptcy questions.  If you are facing financial problems, a good bankruptcy attorney is not optional, it is a requirement! Our bankruptcy attorneys can answer your questions with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy attorneys have over 85 years of bankruptcy experience and are located in Grand Rapids Michigan. We can provide you with excellent bankruptcy representation.

CALL FOR A FREE PHONE CONSULTATION AT 616-459-6636

 

GRAND RAPIDS FREE CREDIT REPORT

When you file for bankruptcy it is importan that you list all of your debts (creditors) to ensure they are discharged.  You have an obligation to list all creditors known to you.  Additionally, the trustee at your 341 meeting will ask you if you have listed all of your debts.  

There are a number of reasons why people forget their creditors names and addresses.  They are typically:

  • Clients have moved a number of times.
  • Clients lost track of who and how much they owe.
  • The Debts have been assigned to other creditors.
  • Creditors have merged with different companies.
  • The situation becomes hopeless so they stop keeping track of their debts.

 

In order to file for bankruptcy you will need to know the name address and approximate amount owed to the creditor.  Your attorney will need this information to file your bankruptcy.  If you want to make sure tha you have all of your creditors listed, you can get a FREE CREDIT REPORT LISTING YOUR DEBTS to make your list of creditors for the attorney.  The US Government has provide a website at www.annualcreditreport.com

This will provide you with a FREE CREDIT REPORT.

If you miss a creditor that you did not know about or forgot, they are still discharged as long as you did not intentionally leave them off your bankruptcy.

 

GRAND RAPIDS MICHIGAN BANKRUPTCY ATTORNEYS

If you are facing financial problems, a good bankruptcy attorney is not optional, it is a requirement! Our bankruptcy attorneys can answer your questions with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy attorneys have over 85 years of bankruptcy experience. We can provide you with excellent bankruptcy representation.

Krupp Law Offices P.C.  is located in downtown Grand Rapids, Michigan and has the right bankruptcy attorney for you. We represent clients in all bankruptcy matters throughout West Michigan, including the cities of Grand Rapids, Holland, and Grand Haven, and the counties of Kent, Ottawa, Allegan, Barry, Newaygo, Montcalm, Muskegon, and Ionia.

Call for a free phone consultation.  Our office can help.

KRUPP LAW OFFICES P.C.

161 Ottawa NW Suite 404

Grand Rapids, MI 49503

616-459-6636 or This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.

GRAND RAPIDS BANKRUPTCY TOPICS:

Should I File Bankruptcy?

Bankruptcy Means Testing - Can I File?

Nonbankruptcy options

Bankruptcy - Attorney Fees

Exemptions - What Can I Keep?

Documents Needed for Bankruptcy

Chapter 7, 11, 12, 13

Common Questions Chapter 7

Common Questions Chapter 13

Business Bankruptcy

Life After Bankruptcy

Foreclosure & Bankruptcy

Bankruptcy and Divorce

Bankruptcy & Taxes

ASK THE GRAND RAPIDS BANKRUPTCY ATTORNEY A QUESTION

BANKRUPTCY INTERVIEW PDF

GRAND RAPIDS BANKRUPTCY ATTORNEY – MICHIGAN EXEMPTIONS

When you are facing financial problems and have questions about your bankruptcy options and exemptions in the Grand Rapids area, it is important to have the representation of a good bankruptcy attorney.  Krupp Law Offices P.C. has been providing quality bankruptcy representation for over 85 years.  If you are facing financial problems or have questions about bankruptcy and federal exemptions compared with Michigan exemptions, call the bankruptcy attorneys at Krupp Law Offices P.C. for a free phone consultation.  During your phone consultation, our attorneys will provide you with immediate answers to your questions and schedule an appointment with one of our bankruptcy attorneys.

CALL FOR A FREE PHONE CONSULTATION AT 616-459-6636.

EXEMPTION OPTIONS - MICHIGAN V. FEDERAL EXEMPTIONS

Under the bankruptcy code, certain property is exempt. This means a debtor may keep this property and still go through bankruptcy. This property is kept by the debtor and the creditors cannot take the property. The debtor has the option to choose federal or state exemptions. Each of the exemptions has certain benefits over the other. The Michigan exemptions have higher exemption for house equity, but no (d)5 – “anything you want exemption”. Under Chapter 13 Bankruptcy, you can still keep property that exceeds your exemptions if you pay the same value into the plan (what you exceed in exemptions).  Exemptions are adjusted for inflation.  Specifically, the Michigan exemptions are as follows:

MCL 600.5451 Bankruptcy; exemptions from property of estate; exception; exempt property sold, damaged, destroyed, or acquired for public use; amounts adjusted by state treasurer; definitions. 

Sec. 5451.

(1) A debtor in bankruptcy under the bankruptcy code, 11 USC 101 to 1330, may exempt from property of the estate property that is exempt under federal law or, under 11 USC 522(b)(2), the following property:

(a) All of the following:

(i) Family pictures.

(ii) Arms and accoutrements required by law to be kept by a person.

(iii) Wearing apparel, excluding furs.

(iv) Cemeteries, tombs, and rights of burial in use as repositories for the dead of the judgment debtor's family or kept for burial of the judgment debtor.

(v) Professionally prescribed health aids.

(b) Provisions and fuel for comfortable subsistence of each householder and his or her family for 6 months.

(c) The interest, not to exceed a value of $450.00 in each item and an aggregate value of $3,000.00, in household goods, furniture, utensils, books, appliances, and jewelry.

(d) The interest, not to exceed $500.00 in value, in a seat, pew, or slip occupied by the judgment debtor or the judgment debtor's family in a house or place of public worship.

(e) The interest, not to exceed $2,000.00 in value, in crops, farm animals, and feed for the farm animals.

(f) The interest, not to exceed $500.00 in value, in household pets.

(g) The interest, not to exceed $2,775.00 in value, in 1 motor vehicle.

(h) The interest, not to exceed $500.00 in value, in 1 computer and its accessories.

(i) The interest, not to exceed $2,000.00 in value, in the tools, implements, materials, stock, apparatus, or other things to enable a person to carry on the profession, trade, occupation, or business in which the person is principally engaged.

(j) Money or other benefits paid, provided, or allowed to be paid, provided, or allowed, by a stock or mutual life, health, or casualty insurance company because of the disability due to injury or sickness of an insured person, whether the debt or liability of the insured person or beneficiary was incurred before or after the accrual of benefits under the insurance policy or contract, except that this exemption does not apply to actions to recover for necessities contracted for after the accrual of the benefits.

(k) The interest, not exceeding $1,000.00 in par value, in shares held by a member, who is a householder, of an association incorporated under the savings and loan act of 1980, 1980 PA 307, MCL 491.102 to 491.1202, except that this exemption does not apply to a person who has a homestead exempted under the general laws of this state.

(l) All individual retirement accounts, including Roth IRAs, or individual retirement annuities as defined in section 408 or 408a of the internal revenue code, 26 USC 408 and 408a, and the payments or distributions from those accounts or annuities. This exemption applies to the operation of the federal bankruptcy code as permitted by section 522(b)(2) of the bankruptcy code, 11 USC 522. This exemption does not apply to the amount contributed to an individual retirement account or individual retirement annuity within 120 days before the debtor files for bankruptcy. This exemption does not apply to any of the following:

(i) The portion of an individual retirement account or individual retirement annuity that is subject to an order of a court pursuant to a judgment of divorce or separate maintenance.

(ii) The portion of an individual retirement account or individual retirement annuity that is subject to an order of a court concerning child support.

(iii) The portion of an individual retirement account or individual retirement annuity that is attributable to contributions to the individual retirement account or premiums on the individual retirement annuity, including the earnings or benefits from those contributions or premiums, that, in the tax year made or paid, exceeded the deductible amount allowed under section 408 of the internal revenue code, 26 USC 408. This limitation on contributions does not apply to a rollover of a pension, profit-sharing, stock bonus plan, or other plan that is qualified under section 401 of the internal revenue code, 26 USC 401, or an annuity contract under section 403(b) of the internal revenue code, 26 USC 403.

(m) The right or interest of a person in a pension, profit-sharing, stock bonus, or other plan that is qualified under section 401 of the internal revenue code, 26 USC 401, or an annuity contract under section 403(b) of the internal revenue code, 26 USC 403, if the plan or annuity is subject to the employee retirement income security act of 1974, Public Law 93-406, 88 Stat. 829. This exemption does not apply to any amount contributed to a pension, profit-sharing, stock bonus, or other qualified plan or a 403(b) annuity if the contribution occurs within 120 days before the debtor files for bankruptcy. This exemption does not apply to the right or interest of a person in a pension, profit-sharing, stock bonus, or other qualified plan or a 403(b) annuity to the extent that the right or interest is subject to either of the following:

(i) An order of a court pursuant to a judgment of divorce or separate maintenance.

(ii) An order of a court concerning child support.

(n) The interest of the debtor, the codebtor, if any, and the debtor's dependents, not to exceed $30,000.00 in value or, if the debtor or a dependent of the debtor at the time of the filing of the bankruptcy petition is 65 years of age or older or disabled, not to exceed $45,000.00 in value, in a homestead.

(o) Property described in section 1 of 1927 PA 212, MCL 557.151, or real property, held jointly by a husband and wife as a tenancy by the entirety, except that this exemption does not apply with regard to a claim based on a joint debt of the husband and wife.

(p) If the owner of a homestead dies, leaving a surviving spouse but no children, the surviving spouse before his or her remarriage, unless the surviving spouse is the owner of a homestead in his or her own right, may exempt the homestead and the rents and profits of the homestead.

(2) An exemption under this section does not apply to a mortgage, lien, or security interest in the exempt property that is consensually given or lawfully obtained unless the lien is obtained by judgment, attachment, levy, or similar legal process in connection with a court action or proceeding against the debtor.

(3) If property that is exempt under this section is sold, damaged, destroyed, or acquired for public use, the right to receive proceeds or, if the owner receives proceeds and holds them in a manner that makes them identifiable as proceeds, the proceeds received are exempt from the property of a federal bankruptcy estate in the same manner and amount as the exempt property. An exemption under this subsection may be claimed up to 1 year after the receipt of the proceeds by the owner.

(4) On March 1, 2005 and at the end of each 3-year period after 2005, the state treasurer shall adjust each dollar amount in this section or, for each adjustment after March 1, 2005, each adjusted amount, by an amount determined by the state treasurer to reflect the cumulative change in the consumer price index for the 3-year period ending on the December 31 preceding the adjustment date and rounded to the nearest $25.00. The state treasurer shall publish the adjusted amounts. The adjusted amounts apply to cases filed on or after April 1 following the adjustment date.

(5) As used in this section:

(a) "Consumer price index" means the consumer price index for all urban consumers in the area of Detroit-Ann Arbor-Flint, Michigan, published by the United States department of labor or, if the United States department of labor ceases publishing that index, the most similar index available.

(b) "Disabled" means unable to engage in substantial gainful activity, as defined by 42 USC 1382c(a)(3)(E), as a result of a physical or mental impairment and receiving supplemental security income under 42 USC 1382(a)(3)(A) and (C).

(c) "Proceeds" means money payable or paid as a result of 1 or more of the following:

(i) Sale of the property.

(ii) Insurance or other indemnification for damage or destruction of the property.

(iii) Compensation for the acquisition for public use of the property.

(d) "Homestead" means 1 of the following owned or being purchased under an executory contract by the debtor that the debtor or a dependent of the debtor occupies as his or her principal residence:

(i) If the land is located outside of a recorded plat, city, or village, a residential dwelling and appurtenances and the land on which they are situated, not exceeding 40 acres.

(ii) If the land is located within a recorded plat, city, or village, a residential dwelling and appurtenances and the land on which they are situated, not exceeding 1 lot or parcel.

(iii) A residential dwelling situated on land not owned by the debtor.

(iv) A condominium unit.

(v) A unit in a cooperative.

(vi) A motor home.

(vii) A boat or other watercraft.

(e) "Residential dwelling" includes, but is not limited to, a house or a manufactured or mobile home.

GRAND RAPIDS BANKRUPTCY ATTORNEY

If you are facing financial problems, a good bankruptcy attorney is not optional, it is a requirement! Our expert bankruptcy attorneys can answer your questions with straight talk. Having the right bankruptcy attorney on your side can relieve your stress during difficult financial times. Our bankruptcy attorneys have over 85 years of bankruptcy experience. We can provide you with excellent bankruptcy representation.

Krupp Law Offices P.C. is located in downtown Grand Rapids, Michigan and has the right bankruptcy attorney for you. We represent clients in all bankruptcy matters throughout West Michigan, including the cities of Grand Rapids, Holland, and Grand Haven, and the counties of Kent, Ottawa, Allegan, Barry, Newaygo, Montcalm, Muskegon, and Ionia.

Call for a free phone consultation.  Our office can help.

KRUPP LAW OFFICES P.C.

161 Ottawa NW Suite 404

Grand Rapids MI 49503

616-459-6636 or  This email address is being protected from spambots. You need JavaScript enabled to view it.

GRAND RAPIDS BANKRUPTCY TOPICS:

Should I File Bankruptcy?

Bankruptcy Means Testing - Can I File?

Nonbankruptcy options

Bankruptcy - Attorney Fees

Exemptions - What Can I Keep?

Documents Needed for Bankruptcy

Chapter 7, 11, 12, 13

Common Questions Chapter 7

Common Questions Chapter 13

Business Bankruptcy

Life After Bankruptcy

Foreclosure & Bankruptcy

Bankruptcy and Divorce

Bankruptcy & Taxes

ASK THE GRAND RAPIDS BANKRUPTCY ATTORNEY A QUESTION

BANKRUPTCY INTERVIEW PDF