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1. Lansing Bankruptcy Lawyer – Gene Turnwald
For more information and free consultation please visit the main
website at: http://www.lansinglawyer.com/
Bankruptcy and home foreclosures are an ever-increasing problem in the
Lansing, Michigan area. The Lansing, Michigan area law firm of bankruptcy
attorney, Gene F. Turnwald, P.C. can help you with your financial situation and
determine the best way to proceed. Michigan bankruptcy is best if you wish to:
 Stop harassing phone calls
 Stop car repossession
 Stop wage garnishments
 Stop foreclosure
 Eliminate credit card debt and medical bills
Chapter 7 Bankruptcy. Under this chapter of the Michigan Bankruptcy Code, you
may keep all exempt assets and discharge all debt.
Chapter 13 Bankruptcy. Under this chapter of Michigan Bankruptcy Code, you
may keep all assets, make payments to slowly catch up on late payments
(whether home or auto,) and still be able to discharge a percentage of debts for
credit cards or medical bills.
Chapter 11 Bankruptcy, under which a business restructures debt, discharges
some, and reorganizes a payment plan for the balance of the business debt.
Sometimes, however, bankruptcy is not the answer. The best solution may be to
have us negotiate directly with your creditors, for a reduced amount, a debt
consolidation or repayment plan you can live with. Lansing, Michigan,
bankruptcy attorney Gene Turnwald, P.C., will analyze what is the best solution
for your financial situation.

2. Michigan Bankruptcy Types (More Info)
Your Michigan bankruptcy attorney will help you decide which bankruptcy type
(chapter) is right for you. Here is a brief description of each of the different
types of bankruptcies:
Chapter 7 Bankruptcy – Liquidations
In Michigan, the purpose of a Chapter 7 bankruptcy is to allow a person to
obtain a fresh start, free from creditors and free from the pressures of over-
whelming debt. After filing for relief, an individual debtor may receive a
discharge of debts.
A discharge permanently prohibits creditors from attempting to collect those
debts listed by the debtor on the bankruptcy schedules. However, some debts
are non-dischargeable. They include certain taxes, student loans, alimony, and
child support to name just a few.
You are allowed to keep any assets (example mortgages, car payments) you
choose as long as you can continue to make regular monthly payments.
Lansing Michigan Bankruptcy court filing fee: $299.00 (price subject to change)
Michigan Chapter 11 Bankruptcy – Reorganizations
The purpose of a Michigan Chapter 11 bankruptcy is to allow an individual or
business a limited amount of time free from creditor’s collection efforts to
restructure its financial obligations so it may continue to operate in a normal
fashion under a court approved plan of reorganization. Creditors of a business
filing a Michigan Chapter 11 bankruptcy vote on the repayment plan and the
plan must be approved by the court. The advantage of Chapter 11 bankruptcy
is if a trustee is not appointed, the individual or business maintains control of
its property during the bankruptcy and allow time to deal with creditors and to
negotiate a plan of repayment.

3. Chapter 11 bankruptcy in Michigan is normally for corporations and businesses
but individuals may also file Chapter 11 bankruptcy. Chapter 11 bankruptcy is
complicated there may be advantages to filing under a different chapter. An
individual should consult with a Michigan bankruptcy attorney before making
the decision to file Chapter 11 bankruptcy.
Lansing Michigan Bankruptcy court filing fee: $1039.00 (price subject to
change)
Chapter 12 Bankruptcy– Family Farmer Debt Adjustment
The Chapter 12 bankruptcy law was created to help family farmers who need to
reorganize their debts while keeping their land and farming business. Chapter
12 is meant to assist farmers who have potential to reorganize and to allow
them relief from a heavy debt burden, while at the same time allow farmers to
pay their creditors what is deemed reasonable under the terms of a court
approved repayment plan.
For Michigan, the rules of a Chapter 12 bankruptcy are modeled closely after
those of a Chapter 13 bankruptcy. A Chapter 12 bankruptcy case may only be
filed by certain family farmers and businesses. A trustee is appointed, but the
farmer usually remains in possession of the farm while formulating a plan.
Lansing Michigan Bankruptcy court filing fee: $239.00 (price subject to change)
Chapter 13 Bankruptcy– Individual Wage Earner
The purpose of a Michigan Chapter 13 bankruptcy is to allow an individual
debtor with a regular income pay back debts using their income and enabling a
debtor to keep certain assets. A person who operates a small business as a sole
proprietor may also file under this chapter.
Under a Michigan Chapter 13 bankruptcy filing, the debtor must promptly file a
repayment plan and obtain the court’s approval of the plan. Any creditor may
object to the plan. The debtor, along with the appointed trustee, must work out
any objections to the plan before the court will approve it. The typical

4. repayment period of a Chapter 13 bankruptcy is 3 to 5 years. The debtor makes
regular payments to the trustee and the trustee distributes these monies to
creditors according to the terms of the plan.
After completion of the plan, the debtor’s debts are discharged (with some
exceptions) and the debtor is no longer obligated to pay them.
Lansing Michigan Bankruptcy court filing fee: $274.00 (price subject to change)
Common Michigan Bankruptcy Definitions
 Bankruptcy – A legal proceeding in federal court in which an individual or
company may be released (or “discharged”) from all or a portion of their
debts.
 Debtor – The person or company filing bankruptcy.
 Trustee – A person who administers a debtor’s estate. A trustee is always
appointed in a chapter 7, 13, or 12 bankruptcy. A trustee may be
appointed in a chapter 11 case.
 Creditor – The people or companies to whom a debtor owes money or
property. Creditors have claims against the debtor.
 Proof of Claim – A proof of claim is a written statement filed with the
court describing the debt that a creditor claims the debtor may owe
them.
Lansing Bankruptcy Lawyer – Gene Turnwald