Michigan Debt Settlement Lawyer

Debt Settlement Attorney in Michigan

Heavy debt can leave you feeling uncertain about the future and your options. With help from a Michigan debt settlement lawyer, you can begin the process of reclaiming your life and financial future. Stephanie Krane-Boehmer can negotiate a favorable debt settlement that allows you to rebuild your financial standing.

Debt Settlement in Michigan and Recovering From Debt

Getting into financial trouble can be a terrifying and stressful situation. However, there are ways that debt settlement in Michigan can help you with options to consolidate and reduce some of your debt to manageable levels. Debt settlement in Michigan requires a debt settlement attorney to facilitate the process and to negotiate with creditors. Choose a debt settlement lawyer in Rochester Hills who will treat you with compassion and understanding. Call for a consultation to get started.

The Facts About Debt Settlement in Michigan

One way to reduce your debt load if you are unable, or do not wish to file for bankruptcy is debt settlement. Stephanie Krane-Boehmer can help you with debt settlement in Michigan and beyond. Debt settlement is where a company or individual agrees that you can pay back a portion of the debt you owe, rather than the entire sum.

Why would they agree to this? Because they realize that if you were to file for bankruptcy, they would likely receive little or no money. So, in their reckoning, some money is better than none. When working towards a debt settlement in Michigan, we negotiate on your behalf. You pay an agreed-upon lump sum to each of your creditors. If you’re looking for debt settlement in Michigan, watch out for scams. There’s a lot of bad actors out there who are just looking for a piece of your assets. The Department of Attorney General of Michigan issues alerts on scams. Protect yourself!

If you live in the Rochester Hills, Michigan area, including Oakland, Macomb, Genesee, Lapeer, Livingston, and Wayne Counties and you think debt settlement is right for you, visit us for a no-obligation consultation.

Take a deep breath, pick up the phone and today for an appointment at 248‑293‑0048. We are here to help.

Michigan Bankruptcy Lawyers Will Help You Through

Sometimes, if the situation is severe, bankruptcy is the best solution to your debt problems. When this is the case, Stephanie Krane-Boehmer, a bankruptcy lawyer, is available to walk you through the filing and settlement process. She can recommend a credit counselling course that you must complete as part of the bankruptcy process.

Stephanie Krane-Boehmer knows the Chapter 7 and Chapter 13 fining process well and can ensure that it is done correctly, minimizing the impact on you as much as possible. Get in touch with my office if you are considering bankruptcy, and let’s talk.

Find a Bankruptcy Attorney Near You for Advice

If you feel that Chapter 7 may be the only option for you, Stephanie Krane-Boehmer can assess your situation. There may be other options, such as debt consolidation, that she can explain and help facilitate. So, when things seem desperate, don’t panic. Call my office and find out more about the options available to you.

Debt Settlement vs. Bankruptcy

Debt settlement and bankruptcy are both designed to help people through unmanageable debt, but they work in different ways.

Debt settlement is a negotiation process that happens out of court. You and your attorney work directly with creditors to reduce the total amount you owe. This is often done by arranging a payment plan or a lump-sum payment. Creditors have to agree to the settlement, but if they do, you can resolve your debt without going to court.

Debt settlement usually does not impact your credit as much as bankruptcy and allows you to maintain more control over your assets. However, it does not stop collection efforts by creditors unless you reach a settlement.

By contrast, bankruptcy is a formal legal process that takes place in federal court. It provides automatic legal protection from creditors, stopping wage garnishments, collection efforts, and legal action. Bankruptcy can provide a more comprehensive financial reset, but it may affect your credit for a longer period of time.

Both options can offer relief, but the right choice depends on your specific financial circumstances.

Understanding Debt in Michigan

Debt is a reality for many Michigan residents. In the first quarter of 2025, the average household debt-to-income ratio in Michigan was 1.24 at its highest and 1.11 at its lowest. For families under financial strain, these numbers highlight why debt settlement and negotiation are often considered alternatives to filing for bankruptcy.

In Michigan, debt-related disputes are typically handled in district courts or small claims courts, depending on the amount owed. When a creditor takes action, the process begins with a summons and complaint.

If you ignore this action, the court may issue a judgment allowing creditors to garnish wages or place liens on property. An attorney can often negotiate settlements that reduce the balance owed, restructure payments, or dismiss legal claims entirely. For many, pursuing settlement through Michigan’s courts offers a path toward regaining financial stability.

Why You Should Hire a Debt Settlement Lawyer

The decision to hire a debt settlement lawyer can greatly improve the chances that you resolve your debt-related matters on favorable terms. Debt settlement cases are considerably complex. They require an intimate knowledge of debt settlement laws and how they apply to court cases. By hiring a Michigan debt settlement attorney like Stephanie Krane-Boehmer, you can rely on her to secure a fair settlement that satisfies you and the party collecting your debt.

FAQs

Q: Is It Worth Getting an Attorney for a Debt Collection Claim?

A: Yes. An attorney plays an important role in asserting your rights and pursuing favorable terms for a settlement. Going to court without an attorney can be a costly mistake. It could lead to wage garnishments, liens on your property, and other unfavorable outcomes. You could also end up filing the incorrect documents without an attorney to guide you.

Stephanie Krane-Boehmer understands state laws and creditor tactics, and her work can save you considerable time and money.

Q: Is It Better to Settle a Debt or Go to Court?

A: Settling a debt is often faster, less stressful, and less expensive than going to court. A favorable outcome in court is never a guarantee. The settlement process allows both parties to come to an agreement on settlement terms. Rather than risking an unfavorable judgment, you can work with an attorney to avoid the risks that are inherent in court rulings.

Q: Does Michigan Have a Debt Relief Program?

A: Michigan does not offer a state-run debt relief program, but residents have options through federal bankruptcy laws, nonprofit credit counseling, and private debt settlement negotiations. Stephanie Krane-Boehmer can evaluate whether Chapter 7 or Chapter 13 bankruptcy, consolidation, or settlement is the right fit for you. Each solution has benefits and drawbacks, depending on your income, debt level, and goals.

Q: How Much Does a Debt Settlement Cost?

A: The cost of debt settlement in Michigan varies, depending on the complexity of your case and the amount of debt involved. Attorneys may charge either a flat fee or an hourly rate. While fees differ, many people find the savings and protection gained from professional negotiation well worth the investment.

Contact a Debt Settlement Lawyer Today

Call The Law Office of Stephanie Krane-Boehmer today at 248-293-0048 for a debt settlement consultation. Call to book an appointment by phone, Zoom, or in-person in our office.