Michigan bankruptcy law education and training will teach you how to resolve your clients’ debts by dividing their assets among their creditors. This allows each creditor to achieve some measure of equality under the law. A filing under Chapter 7 is called liquidation and involves the sale of the debtor's non-exempt property. A bankruptcy proceeding under Chapters 11, 12 or 13 allows the debtor to use future earnings to pay off creditors.

The qualifications needed to provide assistance in filing bankruptcy in Michigan are determined at the state level and also will be affected by the specific type of bankruptcy that the client requires. There are three general phases in obtaining an education in bankruptcy law:

1. Formal education. An attorney who practices bankruptcy law in Michigan will need at least a Juris Doctor (J.D.) degree from an accredited law school in Michigan. An advanced degree such as a Masters of Law (L.L.M) will further distinguish you from your colleagues.
2. Membership in professional organizations. Practicing attorneys will want a membership in one of the associations dedicated to bankruptcy law in Michigan.
3. Legal specialization. Bankruptcy attorneys in Michigan can become designated specialists in bankruptcy law by meeting the state's specific requirements.
   

Action Steps
The best contacts and resources to help you get it done

Attend a law school that specializes in bankruptcy law in Michigan

There are a variety of universities in Michigan that provide a concentration in bankruptcy law. These schools are equipped to offer a solid education on the current bankruptcy laws in Michigan.

I recommend: The University of Michigan Law School teaches several courses in bankruptcy, including bankruptcy, bankruptcy and creditors' rights, bankruptcy and insolvency and advanced Chapter 11 bankruptcy. The University of Detroit Mercy School of Law offers a course in bankruptcy law that stresses the procedural law of bankruptcy and bankruptcy proceedings.

Find professional forums for Michigan bankruptcy attorneys

Professional online forums can provide a daily educational opportunity for bankruptcy attorneys in Michigan. These include information on recent changes in bankruptcy law and advice on building a practice.

I recommend: LawInfo provides a forum dedicated to discussions of bankruptcy in Michigan. Walter Metzen provides an educational overview of the current bankruptcy laws for Michigan.

Obtain Continuing Legal Education (CLE) for business bankruptcy laws in Michigan

Michigan requires attorneys to stay current on changes in the law. There are a variety of programs in Michigan that provide CLE credit in bankruptcy law.

I recommend: The Institute of Continuing Legal Education provides a seminar in bankruptcy that counts for CLE credit in Michigan. NALS of West Michigan offers a variety of CLE opportunities such as Bankruptcy – Updated Local Rules.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  A bankruptcy lawyer in Michigan also will want to join professional organizations that are dedicated to the practice of Michigan bankruptcy laws. These associations provide a number of resources essential for the practicing bankruptcy attorney, including contact information for important courts, assistance with Continuing Legal Education (CLE) requirements and links to bankruptcy laws.

Take the time to research Michigan bankruptcy law before you begin the bankruptcy process. You want to know what the process will be like and what exemptions you are entitled to.

You don’t start a business thinking it will fail. However, things don’t always go as planned, and there may come a time when filing bankruptcy in Michigan becomes the best course of action for yourself and your business. Before filing for bankruptcy, keep in mind the following:

1. View the bankruptcy as an ending to one chapter of your life and the beginning to a new and more prosperous chapter of your life.

2. Know how bankruptcy laws in Michigan can affect your life and your business.

3. Learn from your bankruptcy filing so you won’t have to file again in the future.

Action Steps
The best contacts and resources to help you get it done

Determine what property you can keep under Michigan bankruptcy laws

Knowing and understanding the exemptions you have available to you will make navigating Michigan business bankruptcy laws easier. You want to know what property you can and cannot keep before you file for bankruptcy so you can prepare accordingly.

I recommend: MichiganBankruptcy.com has a chart that details the exemptions that are available under Michigan bankruptcy law. View a chart with all of the available exemptions in Michigan as well as links to the forms you need to file and a host of other Michigan bankruptcy information at Bankruptcy Information.

Decide which chapter of Michigan bankruptcy law to file under

With the passage of the 2005 Bankruptcy laws, filing for bankruptcy has changed drastically. Bankruptcy laws in Michigan have been changed accordingly, and you should have a thorough understanding of what the process entails so you can make an informed decision on whether filing for bankruptcy protection is right for you.

I recommend: Lawyers.com has a detailed explanation of the bankruptcy process. Contact the Bankruptcy Law Office of Walter Metzen for an explanation of the bankruptcy process that includes explanation of how the new bankruptcy laws affect new filers.

Find a good Michigan bankruptcy attorney

A good bankruptcy lawyer in Michigan is absolutely necessary when filing for bankruptcy. They can walk you through Michigan bankruptcy laws and explain the process to you in detail.

I recommend: Michigan Bankruptcy Lawyers.com has a wealth of information on Michigan bankruptcy attorneys, and offers a search that will allow you to get a free consultation form a bankruptcy attorney in your area. Michael M. Malinowski PLC specializes in bankruptcy and operates in Grand Rapids.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  To help you make the decision on whether bankruptcy protection is right for you, determine what your priority debts are before filing bankruptcy in Michigan. Your priority debts include things such as alimony, child support or any back taxes you may owe that won't be wiped out during the bankruptcy process.