Some people think that if you file for bankruptcy that you will lose your home. This is not the case in 99.9% of filings.
If you have less than $11,850 in equity in your home, you can keep your home, and your other assets will not be affected at all. If you have between $11,850 – $23,700 then you can keep your home, but your D5 Wildcard exemptions may be limited.
If you have between $23,700 – $37,775 in equity, then you will want to use your Michigan Exemptions. If you have more than $37,775 then you will want to contact my office. There are still a few more exceptions that you can take advantage of. Give me a call at (616) 920-0555 or email me at Travis@RussellGR.com