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Credit Card Debt Consolidation Help  in Michigan
Call Today: (877) 274-1260
If you successfully complete our program, it’s possible that you’ll enjoy these benefits:
Settle your debts for less than you owe
  (read here for full details about how much you can expect to save)
Resolve your unsecured debts in 18 to 60 months
  (read here for full details on how long our program lasts)
No Up Front Fees - Don't Pay Till You See Results!
 
 
 
Michigan  Debt Relief
Debt settlement, also known as debt negotiation and debt reduction, is the process by which we negotiate and settle a debt for a reduced amount on behalf of a client. When successful, it is possible that Franklin Debt Relief can settle their debts for less than what is owed, all with the convenience of one low program payment. The savings from our debt settlement program can potentially be tremendous versus making your minimum payments, and it is in some cases the cheapest and fastest debt relief, debt consolidation or debt help option available to Michigan consumers.

If you're overwhelmed with credit cards, medical bills, balances from a repossession, or accounts in collections, call for a free consultation: (877) 274-1260.
 
Pertinent Michigan  Debt Relief and Debt Help Laws
(This is intended to be a helpful and informational debt resource for Michigan consumers and does not constitute legal advice. For legal advice about your situation, contact a licensed professional in Michigan.)

Debt Collection

Michigan (MI) follows the set of federal laws dealing with collection agencies (and law firms that collect debts) that are collectively known as the Fair Debt Collection Practices Act (FDCPA). For more information on the FDCPA follow this link: debt collection.

- Original creditor or creditor collecting own debt must comply with all the provisions of the FDCPA, except those provisions dealing with required disclosures. (For example, the original creditor does not have to verify the debt's validity).

-Debt collector must provide debtor with receipts for cash payments and other payments when specifically requested to do so
-Maximum Interest Rate a Collection Agency Can Charge in Michigan: 5%

Michigan Debt Law

Michigan Wage Protection: 60% of wages (no less than $15/week) plus $2/week per nonspouse dependent; if not head of household, may keep up to 40% of wages (no less than $10/week). FEDERAL LAW STIPULATES THAT AT LEAST 75% IS PROTECTED---OVERRIDES STATE LAW.

Statute of Limitations

A statute of limitations is a law that sets forth the maximum period of time, after certain events, that legal proceedings based on those events may be initiated. For debt, the statutes of limitation apply to the maximum period of time after a consumer has become delinquent on their payments. The key point to remember is that you are considered delinquent not from the date of your last payment, but rather the day after you have gone past due. In other words, if you made your last payment on 3/3/03 and your next payment was due the same day of the next month, the statute of limitations on the debt would not start running until 4/4/04. The statutes of limitations vary from state to state and depend on the type of debt and where the original transaction took place (i.e. if you took the loan out in California but currently live in Michigan, the applicable statutes of limitations would be California's.)

Oral Agreements: 6 years
Written Contracts: 6 years
Promissory Notes: 6 years
Open Accounts (credit cards): 3 years

Michigan Bankruptcy Courts

Detroit
211 West Fort Street
Detroit, Michigan 48226
(313)234-0065

Flint
226 West Second Street
Flint, Michigan 48502
(810)235-4126

Bay City
111 First Street
Bay City, Michigan 48708
(989)894-8840

U.S. Bankruptcy Court, WDMI
One Division Avenue, N.
Room # 200
Grand Rapids, MI 49503-3132

U.S. Courthouse & Federal Building
410 West Michigan
Room 114
Kalamazoo, MI 49007

U.S. Post Office & Federal Courthouse
315 West Allegan Street, Room 101
Lansing, MI 48933

Logan Place West
3249 Racquet Club Drive
Traverse City, MI 49684

Post Office and Federal Courthouse
202 West Washington Street, 3rd Floor
Marquette, MI 49855
Phone: (906) 226-2117

Bankruptcy Exemptions

Federal bankruptcy exemptions are available. Bankruptcy exemptions are protected assets that the bankruptcy code mandates that a debtor is entitled to keep in order to adequately get a "fresh start" after filing. Bankruptcy exemptions vary from state to state, and the following list is the property that is protected in the bankruptcy code of Michigan. For more information, follow this link: bankruptcy exemptions.

Also, Michigan is a tenancy by the entirety state. Click here to learn about what this means if you have debt that's in only one spouse's name.

Real Estate, Auto, Personal Property

-Real property including condo to $3,500; property cannot exceed 1 lot in town, village, city, or 40 acres elsewhere (spouse or children of deceased owner may claim homestead exemption)
-Appliances, utensils, books, furniture and household goods to $1000 total
-Clothing and family pictures
-Building and loan association shares to $1000 par value, in lieu of homestead
-Burial plots, cemeteries, church pew, slip, seat for entire family
-Food and fuel to last family for 6 months
-2 cows, 100 hens, 5 roosters, 10 sheep, 5 swine, and feeds to last 6 months

Insurance

-Disability, mutual life, or health benefits
-Employer-sponsored life insurance policy or trust fund
-Fraternal benefit society benefits
-Life, endowment, or annuity proceeds if clause prohibits proceeds from being used to pay beneficiary's creditors
-Life insurance
Public Benefits

-Crime victims' compensation
-Social welfare benefits
-Unemployment compensation
-Veterans' benefits for WWII, Korean War and Vietnam War veterans
-Workers' compensation

Pensions

-ERISA-qualified benefits, except contributions within last 120 days
-Firefighters, police officers
-IRAs and Roth IRAs, except contributions within last 120 days
-Judges
-Legislators
-Probate judges
-Public school employees
-State employees

Tools of Trade

-Arms and accoutrements required
-Tools, implements, materials, stock, apparatus, team, motor vehicle, horse and harness to $1000 total

Other

-Property of business partnership
 
 
 
 
 

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