As skilled Southfield Michigan Bankruptcy Attorneys, we understand that financial problems can happen to good families who work hard. Our Firm is dedicated to helping people eliminate debt and get back on their feet by offering solutions, not just a quick fix.

We have extensive experience in consumer bankruptcy matters. We will carefully discuss all options with you to insure your best result. Our fees are reasonable and competitive. We are committed to helping you plan for bankruptcy, protect your assets and achieve a fresh start.

We specialize in solving consumer providing financial problems and solutions to real estate foreclosures, repossessions, wage garnishment and creditor harassment. We offer a personal, hands-on approach to representing clients. 

Our focus includes:

• Financial Workouts
• Foreclosure Prevention  
• Chapter 7 Bankruptcy 
• Chapter 13 Bankruptcy 
• Small Business Chapter 11
• Debt Consolidation
• Creditor Harassment
• Repossession Prevention

Our Firm consists of compassionate attorneys who strive for excellence. We understand that many of our clients are struggling financially and we work with them to make bankruptcy an affordable option. Also, we take the time to explain the law in easy-to-understand terms.

We started our firm in 2007 after representing hundreds of debtors in bankruptcy proceedings as attorneys with the UAW DaimlerChrysler Legal Services Plan. Having an experienced bankruptcy attorney who knows the law and required procedures is important and we stay updated on the law by regularly attending bankruptcy conferences and seminars.

There are many potential problems that can arise in bankruptcy cases and we carefully review each case prior to filing to eliminate the likelihood of any problems with obtaining a discharge for our clients. As experienced Southfield Michigan Bankruptcy Attorneys, we also work to have an efficient law practice, so we regularly use the latest technology in our communications with clients and in the preparation of documents.

Our success rate is very high and we have years of references to prove it.  We have a dedicated staff that knows the value of client contact, service and quality preparation. We do our work personally and offer evening and weekend appointments.

If you or someone you know needs the assistance of an experienced Southfield Michigan Bankruptcy Attorney, call Redd & Rao, PLC today at 866-681-0514, or complete the contact form provided on this site to schedule your free consultation.

Practice Areas and Legal Definitions

Every year, more than 1,000,000 Americans file for protection under Federal bankruptcy laws. Although a few bankruptcy filers are credit abusers and/or financially irresponsible, many hardworking individuals and businesses can succumb to financial difficulty, and face irreparable economic crisis. Bankruptcy is designed as a legal option to help resolve such a crisis, and act as a financial life preserver for those drowning in debt. To discuss your bankruptcy options and other types of debt relief that might be available to you, contact a qualified bankruptcy attorney who can advise you of your legal rights as stated under Bankruptcy Law and federal Bankruptcy courts.

New Bankruptcy Laws:
Bankruptcy is a federal court process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as liquidation or reorganization. Under a liquidation bankruptcy (Chapter 7), a debtor files to eliminate debt through the bankruptcy court. Under a reorganization bankruptcy (Chapter 13), a debtor files a plan with the bankruptcy court proposing how to repay creditors.

As of October 17, 2005, the requirements under which a debtor may file Chapter 7 bankruptcy changed with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act.  Debtors are now required to seek budget and credit counseling within six months of filing, financial “testing” is required to determine the debtor’s capacity for debt repayment and state exemptions cannot be applied unless the debtor has resided at current residence for over two years.

Due to the imposed requirements for Chapter 7 bankruptcy as set forth by the new laws, many debtors who were once eligible to file under Chapter 7 will now have to file under Chapter 13 bankruptcy instead. In a Chapter 13, individuals and creditors agree to a court-imposed plan that requires some or all debts be repaid over three to five years, with an appointed trustee assigned to monitor the repayment process. Bankruptcy filings can be recorded on an individual’s credit report for up to ten years.

Chapter 7:
Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, or a partnership. A Chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in Chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. The Bankruptcy Code will allow the debtor to keep a certain amount of property called "exempt" property; however, potential debtors with valuable assets should realize that the filing of a petition under Chapter 7 may result in the loss of property.

Chapter 13:
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 permits individuals to keep their property by repaying creditors out of their future income.  It is not available to corporations or partnerships. After completion of payments under the plan, Chapter 13 debtors receive a discharge of most debts.

Foreclosure:
Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien".

A Foreclosure by Sale begins with the posting of a sign advertising the auction of your home on the sale date. You can stop a foreclosure sale by filing a Chapter 13 bankruptcy by paying the full arrearage or arranging a workout agreement with your mortgage company.  Full Payment: If you are able to obtain and tender the full amount of your arrearage, including fees and costs, you can stop the foreclosure of a standard residential mortgage. Most people lack the money to make full payment. Chapter 13 stops the foreclosure and allows you to repay your arrearage over a three-to-five year period. The arrearage is paid through a court-appointed official, while you resume your regular monthly payments to the bank in order to keep your home. A Chapter 13 can be filed at any time prior to the sale date, and it is often the only avenue to save your home at the last minute.

Bankruptcy Fraud:
Bankruptcy fraud is a business crime of filing for bankruptcy with criminal intent, that is with the intention of evading payment for goods even though the buyer has funds that could be used to pay for them, or accepting payment for goods or services but not supplying them. Common types of bankruptcy fraud include petition mills, false oath, concealment of assets, and fraudulent conveyance. Multiple filings are not per se fraudulent; as with all things in the law, it depends on the circumstances. Bankruptcy fraud should be distinguished from strategic bankruptcy, which is not a criminal act (but may prejudice a judge against the filer if there is evidence that bankruptcy is being used strategically).

Debt Consolidation:
Contrary to popular belief, debt consolidation is not a loan. Debt consolidation is a process in which debt is restructured into one low monthly payment. It further enables a consumer to reduce the amount owed and thereby eliminate interest. Very often a consumer can detect warning signs of being in too much debt long before any collection notices are received. If more than two of the following signs apply to you, you are probably in too much debt:

• You charge essential expenses, like food and daily expenditures, to your credit card 
• You make only the minimum payments on your credit cards each month
• You are near the limit of your credit cards
• You have too many credit cards
• You don't know how much money you owe creditors

If you or someone you know needs the assistance of an experienced Southfield Michigan Bankruptcy Attorney, call Redd & Rao, PLC today at 866-681-0514, or complete the contact form provided on this site to schedule your free consultation.

Professional Profiles

If you or someone you know needs the assistance of an experienced Southfield Michigan Bankruptcy Attorney, call Redd & Rao, PLC today at 866-681-0514, or complete the contact form provided on this site to schedule your free consultation.

ADDRESS OF THE FIRM:
Redd & Rao, PLC
2000 Town Center Suite 1900
Southfield, MI 48075
Telephone: 866-681-0514
Fax: 866-253-7063

MEMBERS OF THE FIRM:

Kimberly C. Redd

EDUCATION:
The Ohio State University College of Law, J.D., 1998
University of Michigan School of Business Administration, B.B.A., 1995

JURISDICTIONS:
Michigan

PROFESSIONAL MEMBERSHIPS:
National Association of Consumer Bankruptcy Attorneys
American Bankruptcy Institute
Detroit Metropolitan Bar Association

Anita R. Rao

EDUCATION:
Wayne State University, J.D., 2000
Wayne State University, M.A.

JURISDICTIONS:
Michigan

PROFESSIONAL MEMBERSHIPS:
National Association of Consumer Bankruptcy Attorneys
American Bankruptcy Institute
Detroit Metropolitan Bar Association
Oakland County Bar Association

FOREIGN LANGUAGES SPOKEN:
Hindi