Cartwright Law Firm P.C. Articles Ex-Mayor’s Sister Files for Chapter 7

Ex-Mayor’s Sister Files for Chapter 7

By Cartwright Law Firm, PC  Jul. 13, 2012 10:11a

Ayanna Kilpatrick, sister to ex-Mayor of Detroit Kwame Kilpatrick, recently filed for Chapter 7 bankruptcy protection. Ayanna experienced time in the limelight for her actions during the scandal that erupted concerning her brother when he was mayor. In her filing she claimed nearly $350,000 in debts while only making about $2,000 a month in income. Like many in the Detroit area, Kilpatrick also suffered from the housing bubble burst when her home went from a value of approximately $250,000 to less than $75,000. Other liabilities include overdue water and energy bills, three years of delinquent taxes totaling just under $55,000, doctor's bills, credit card bills and accounts to retailers such as Target, Nordstrom and Macy's. If you feel like you are being drowned by debts with no way to stay afloat then you should speak with a bankruptcy attorney as soon as possible.

What liabilities may be discharged in a bankruptcy?

While filing for Chapter 7 or Chapter 13 bankruptcy protection can provide a great deal of debt relief, not all liabilities can be discharged. Tax debts, student loans and other possible debts are generally exempt from bankruptcy protection. Nonetheless, many people are able to get back onto stable financial ground by discharging credit card debts, medical bills and other unsecured loans through a Chapter 7. This is one of the most commonly filed bankruptcies and can bring an individual or family extensive relief in a relatively short amount of time. This form of protection, like others, has very specific qualifications but can get you debt free in a matter of a few months. Chapter 13 is a lengthier process where a payment plan is negotiated with creditors so the liabilities can be discharged in three to five years without liquidating any property.

Consult with a Detroit Bankruptcy Lawyer

Filing for bankruptcy is a serious decision and it is vital that you have a knowledgeable professional helping you with the option that best suits your personal needs. Contact our law offices to find out what we may be able to do for you. A bankruptcy lawyer with the Cartwright Law Firm is skilled in a variety of debt relief legal actions including Chapter 7, Chapter 13, foreclosure defense, loan modification and more. We may be able to get creditors off your back so you can regroup and get on your way to a brighter financial future!

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