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DEBTFREEDETROIT.COM

Law Office of Charles L. Basch II

Services

The Law Office of Charles L. Basch
100 Kercheval, Suite D

Grosse Pointe Farms. Michigan, 48236

(877) 343-9930

debtfreedetroit@gmail.com

I am a dedicated legal professional who is well-versed in many specialized areas especially consumer bankruptcy. I will not advocate for you in an area I am not experienced in, however, my office brings a diverse background to the table, allowing me to advocate for you in many areas of law. This gives my office an edge when dealing with complex legal matters. Often, more than one area of expertise is required. No need to hire a multitude of attorneys. I can provide you with comprehensive legal support in many areas.

The Law Office of Charles L. Basch offers free initial consultations. My services include:

STOP FORECLOSURE!
STOP GARNISHMENTS!
STOP THE CALLS!
DRIVER RESPONSIBILITY FEES
STRIP SECOND LIENS OFF REAL PROPERTY!
Asset Protection
Bankruptcy
Chapter 13
Chapter 7
Collections
Consumer Advocacy and Protection
Contracts
Credit Repair and Disputes
Debt Relief
Foreclosure
Harassment
Mortgage Loan Modifications
Repossessions

Bankruptcy Basics

What is bankruptcy? Webster defines bankruptcy as “the quality or state of being bankrupt” and bankrupt as “a person judicially declared subject to having his or her estate administered under the bankrupt laws for the benefit of creditors” or “a person who becomes insolvent.” Insolvency, or the inability to pay legal debts, can cause someone to file for voluntary protection under the federal bankruptcy laws. An involuntary bankruptcy is one forced upon an entity or person by the creditors. The most common is the voluntary case, where the entity or person enters into the case on their own accord and decision.

11 USC Section 101 through Section 1523 covers the federal laws on bankruptcy commonly known as the “bankruptcy code” and includes the subchapters 7, 9, 11, 12, 13 and 15. Chapter 7 is by far the most common sub-chapter filed in the United States, and it can be filed by any entity (individual, married couples, corporations, LLC’s and son on) it is a universal chapter, therefore anyone can file, if there sole intent is to liquidate and get a fresh start. If an entity or person “qualifies” for a chapter 7 they can have certain debt eliminated and obtain a fresh start without losing their basic assets. Liquidation occurs when an entity or person has an asset that they cannot legally protect under the exemptions and exceptions stated in the bankruptcy code, when that happens a chapter 7 trustee will seize those assets and liquidate them, or in other words reduce them to cash for the benefit of the creditors involved in the case, and distribute what they can to those affected creditors.

Chapter 13, the adjustment of debts of an individual with regular income, or “personal reorganization” sub-chapter is the second most common chapter filed in the United States, and can only be filed by people, not corporations or other business entities, with regular income. Chapter 13 involves a repayment plan over a period of years not to exceed 60 months or 5 years. The basic premise is to take all of your creditors, such as mortgage creditors, auto loan creditors, tax creditors, medical bills and credit cards to name a few and classify them and propose a plan of repayment for those debts based on their priority and classification.

Most individuals will file under one of the above mentioned sub-chapters for the relief they need. However, there are the other sub-chapters available, 9, adjustment of debts of a municipality, 11, reorganization, 12, adjustment of debts of a family farmer or fisherman with regular annual income, and 15, ancillary and other cross-border cases. Of these the most common is sub-chapter 11, which is for corporate restructuring such as what General Motors has done.

This is the basic framework of the bankruptcy law and its sub-chapters, as we go on the complexity of each chapter will be uncovered and put into its basic form for easy understanding. The remaining sub-chapters 1, 3 and 5 have connections to each of the other aforementioned chapters and explain general provisions, case administration and the commencement of a case, the duties and powers of officers and administrative powers, they explain and define creditors, the debtor, and the estate and what claims and creditors are. They explain the debtor, and her duties and benefits, and how an estate is created and what it contains.

/s/ Charles L. Basch II, Attorney and Counselor

What is the worst thing that can happen?

I know that money is a painful issue to talk about. But ask yourself; are there to many bills coming in every month, and not enough money to pay them? Are the creditors calling you night and day? Have you been sued or are being threatened to be sued? Are you being garnished right now?

Well, imagine this; no more bills in the mail! No more creditors calling you day and night! No more worries about being sued! Or if you have been sued, no more worries about those suits leading to garnishment! And, even if you are presently being garnished imagine stopping it and getting all your money every pay day!

Look at the worst case scenario; you can continue to struggle every month with all those incoming bills, and maybe, one day, maybe pay them all off. Or, you can just continually change your phone number or address so the creditors cannot call or mail you anything. Or you can run and hide from every strange person that you meet because they could be a process server trying to hand you anther lawsuit by another creditor. Or you could just sit there and let those creditors that are already taking money out of your check keep taking it until they are satisfied, and wait for the next creditor to sue you and do it all over again. Or you can quit your job and find another to hide from the creditors for a little while. None of these sounds very good and it is a difficult and painful way to live.

I can get you debt free! I can stop the bills and endless calls, I can stop the lawsuits and garnishments, I can get your money back!!! I have been filing bankruptcies for people like you for almost nine years and I have helped thousands of people just like you get rid of the painful financial issues in their lives. I can get your life back! Give me a call, it will be the best call you will make. (877) 343-9930 the call is free!

What Is Bankruptcy?

Chapter 7 and Chapter 13 bankruptcy basics.

Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as "liquidations" or "reorganizations."

Chapter 7 bankruptcy is the liquidation variety: If you own property that isn't exempt under your state's laws or in the alternative federal law exemptions , it may be taken and sold ("liquidated") to pay back some of your debt. However, that rarely happens, most people can keep their stuff and get rid of their debt!

Chapter 13 bankruptcy is the most common type of "reorganization" bankruptcy for consumers: You get to keep all of your property, but you must make monthly payments over three to five years to repay all or some of your debt. In some instances you can STRIP SECOND AND THIRD LIENS OFF YOUR HOUSE AND ELIMINATE THEM COMPLETELY!

Both kinds of bankruptcy have numerous rules -- and exceptions to those rules -- about what kinds of debts are covered, who can file, and what property you can and cannot keep. CONTACT ATTORNEY CHARLES L. BASCH II FOR MORE INFORMATION AT 877-343-9930 or debtfreedetroit@gmail.com

Attorney Charles L. Basch II, an attorney that you can count on!

We are a Debt Relief Agency. We help people file for bankruptcy relief under the bankruptcy code. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. Copyright 2009 Charles L. Basch II