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When filing Chapter 7 bankruptcy, Michigan bankruptcy exemptions
determine the extent personal property may be retained, as well as an
allowance for homestead status. The Michigan bankruptcy exemption law is
not mandatory however, and the federal exempt property statute (Section
522 of the Code) may alternatively replace the state exemptions. With
this option available, assistance from a highly experienced Michigan
bankruptcy law firm is recommended.
Most consumer lawyers and law firms offer free initial advice to
prospective clients, including a free evaluation of potential in Chapter
7 and Chapter 13. Michigan bankruptcy laws are also quite complex
because of state property title, liability, and especially rights
associated with pending causes of action that may constitute an asset of
the estate. Questions about a Michigan bankruptcy lawyer, attorney fees,
and free bankruptcy evaluations may be addressed to the State Bar
lawyer/attorney referral program.
See also: Michigan Homestead Exemption.
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