Olmstead Law Office

Street Address

You'll find the Olmstead Law Offices just off Ludington Avenue at 111 S Rath Ave, Ludington, MI 49431-2037.

(231) 845-1211

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Diffusing the stress of your legal matter is our specialty.

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Get a fresh start

Bankruptcy is most particularly difficult for clients. Many clients feel it is a personal embarrassment and only come to see the lawyer when they have already sold many assets in an effort to pay their obligations. If a client is even thinking of filing bankruptcy, it is time to explore their situation before they, perhaps, sell assets that they might normally be able to retain.

In a Chapter 7 Bankruptcy, the client normally gets rid of all of his unsecured debts such as credit card debt and perhaps reaffirms debt on the home in order to keep their residence. The rest of the debts are normally dischargeable.

There are debts in bankruptcy that are not dischargeable. For example, student loans, child support, alimony, intentional torts, and other types of debt are not dischargeable. We will sit down and review everything with you so you know exactly where you stand and we will give you quick, effective help in order to protect your Estate and give you a fresh start!

To file or not to file

To file or not to file that is the question. It can seem to be a question of life and death but not to fear, it doesn't have to be. Michigan bankruptcy laws provide an array of options and protections for those that chose to file. There is no magic formula for when and if you choose to file. But there are certain signs that point in its direction.
  • Are paying only minimum amounts on your bills
  • Can't budget yourself out of debt within five years
  • Are getting notices that your mortgage or loans are being foreclosed
  • Have had a severe financial setback, such as losing your job or a major client, a divorce or a costly illness

Bankruptcy doesn't cover all debts

Bankruptcy does not get rid of all debts. You are still responsible for:
  • Alimony
  • Child support
  • Most recent back taxes
  • Most student loans
  • Recent large purchases of more than $550 for luxury goods bought within 90 days of filing
  • Fines or penalties of government agencies
  • Fraudulent debts
  • Cash advances of $825 within 70 days of filing