Latest News 2013 December Detroit Eligible to File for Bankruptcy

Detroit Eligible to File for Bankruptcy

Detroit has been determined to be eligible to file for bankruptcy under Chapter 9. According to reports, the judge made the ruling on the city and determined it has the right to cut pensions of municipal workers in its city as part of the reorganization plan. This is the first time this has been decided as the constitution says the state pensions for workers shall never be diminished.

Anyone at any time can find themselves needing to file for bankruptcy, whether personal bankruptcy or as a company. You need to know that these matters can be resolved in a beneficial way if handled properly so that you are able to move forward with your life. You do have rights to protect during this difficult time, but it's important that you take the correct steps to do so. Filing for bankruptcy does not have to be the end, but can be the chance at a new beginning when you make the right choices. With the help of a bankruptcy attorney, you can begin to resolve this matter and get your life back together. A lawyer will know how to best approach your situation and all aspects including any court proceedings. You can count on an attorney to always have your best interest in mind while settling your bankruptcy situation. Please take some time today to contact a bankruptcy lawyer and begin discussing the details of your case now.