Kenneth Demers has been admitted in the Eastern District of Michigan as well as in the Western District of Michigan Federal Courts and has assisted individuals and families from Port Huron, Michigan to Grand Rapids, Michigan. Kenneth Demers actively practices Consumer Law including Probate & Estate Planning, Bankruptcy Law, Tax Planning as well as in all facets of Real Estate Law. Kenneth Demers began 6 Lakes Legal Services in order to provide clients greater access to the legal system by offering five different locations in and around the Metropolitan Detroit area.
Our firm has several tools at our disposal and can offer many options which help people resolve debt no matter where the problem lies. Our goal is to protect assets and earnings in the process of resolving tax debt. Kenneth Demers is registered with the Internal Revenue Service to assist in tax matters such as Offers in Compromise, Good Faith Penalty Abatement and First Time Abatement of Penalties including the IRS regarding non-filing or non-payment of taxes.
Without a good credit profile, individuals and families are at the risk of creditors as well as insurance companies having conspired to line their pockets by raising insurance as well as interest rates resulting in digging you deeper and deeper into debt. This office assists individuals and families in reorganizing and discharging debt under Chapter 7 as well as Chapter 13 of the Federal Bankruptcy Code. Chapter 13 Wage Earner Plans - Guaranteed Results
Chapter 13 Bankruptcy Wage-Earner Plans are vastly superior to any debt consolidation plans. Although there are some reputable debt consolidation companies out there, they cannot compete with what Bankruptcy can do for you. First, debt consolidators cannot control actions taken by your creditors, including keeping creditors from bringing suit, but Bankruptcy forces them to participate while imposing a stay against further collection activity. In addition, creditors must accept your repayment plan arrived at with our attorneys. Debt Consolidation Myths
Debt consolidators cannot force creditors to participate but if they do, they do not have to follow your plan but instead devise their own. In weighing between filing bankruptcy and all its benefits and handing over your hard earned money over to a complete stranger who is more committed to your creditors and getting paid they they are committed to you? Horror stories include paying debt consolidation companies thousands of dollars before their clients find out they are being sued and then told to read the fine print which states that the Debt Consolidation company gets their fees up front. In fact, there are many misconceptions about Bankruptcy including debt consolidation and forgiveness which this office sets to rest in 10 Bankruptcy Myths. This office offers assistance to families and persons seeking protection under the Federal Bankruptcy Act.
Individuals or families filing for relief under Chapter 13 must only pay what they can afford to pay over a limited period of time before receiving a discharge. A Chapter 13 debtor must commit income, or what is called their "best effort" to repay their debt during the time in repayment. A debtor's best efforts are defined as household income less payroll deductions and household and related expenses. A Chapter 13 discharge means different things to different people. For persons not qualifying, or desiring to file under Chapter 7 and whose income falls below the median income level for a family of your size, you must commit to a 3 year repayment term. However, if your income falls above the median income level, you must commit to a 5 year repayment period to obtain the full benefit of filing under Chapter 13.
Under a Bankruptcy Plan for reorganization, liens which exceed value of real estate may be wiped out in some circumstances. In these cases, the second mortgage is forgiven and lien is removed. In addition, the second mortgage company must share pro-rata with other creditors so there is no guarantee that they will receive a money toward what they were owed and if they receive any, it will be without interest and without any obligation to repay.Cram Down
Cram Down is a term of art under the Federal Bankruptcy Code in which practitiioners propose repayment of secured debt by reducing debt to the value of the underlying collateral including real estate. Under Chapter 13, persons may reduce, or cram down, what is owed on debt secured by liens that can be paid over 60 months. For example, if $38,000 is owed on a vehicle and the vehicle is only worth $20,000, the lesser is what you will pay at the prevailing rate of interest.
Debt consolidation companies exist by virtue of a contractual relationship between themselves and some of your creditors. That';s right, some but not all creditors participate and the ones that do wait patiently for debtor's to fall behind on payments to pounce. I have yet to encounter a single Debt Consolidation company who is contractually bound to every creditor. Debt Consolidation Companies derive their powers from a contractual relationship between creditors and themselves. Bankruptcy, on the other hand, derives its authority through powers granted by Congress of these United States and to a limited extent, legislatures of the state in which you reside share to the extent of allowable exemptions. To the extent that one differs from the other, you get to pick which set of exemptions benefit you the greatest. A Chapter 13 Plan which is approved in Court is binding upon all creditors and those who don't play by the rules go without payment and are forever barred from asking for money.
Chapter 7 Bankruptcy
Chapter 7 of the code has varying effects for various people and is vastly superior to any debt consolidation plan available on the market. Chapter 7 Bankruptcy allows qualified debts to be entirely wiped from a credit profile without any obligation to repay.
Our clients are ensured that they received the benefit of all exemptions under the law whether they apply to lowering income tax penalties offsetting earnings while also safeguarding property in the liquidation context upon seeking protection. After obtaining a fresh start under all chapters of the Bankruptcy Code, our clients are ensured they receive the full benefit of a discharge of debts including the clearing of credit following discharge. Even problematic automobile finance companies must give way when a car is underwater. A debtor filing under chapter 7, with the help of his attorney, redeem automobiles for market value and the cost of doing so can be financed as well. This is a way to save literally thousands of dollars even more depending on how much your car has devalued and how much extra you were charged when you purchased. Call us this is another way we make life easier for you and brighten your tomorrow.
The Probate process can seem to be be a mine ridden path for the unwary. Some practitioners excitedly say that when loved ones die without an estate plan, a law suit must be initiated against the belongings of the loved one or loved ones resulting in a judgment against the person no longer able to represent or defend him or herself. If the loved one leaves no instructions such as an Estate Plan or Trust and dies with assets in their name, probate proceedings must be opened up which amounts to a law suit against the assets of the decedent brought by creditors of the decedent. While this may be partially true, it is not as alarming as all that. All the law requires is for an interested person to file a petition to open an estate, either supervised or unsupervised, depending on the local rules of the court where the loved one has died. If there is no will directing where the assets go, the proceedings are used to determine which heir or heirs inherit and which claims must be paid from the deceased love one's remaining assets. If the loved one leaves a will, this makes the process much easier as the Court will know where to direct the assets barring objections and pay claims as they arise prior to distribution. Our office employs several probate avoidance techniques to place assets in desired hands sometimes avoiding both probate but also more expensive estate planning involving trusts. In addition, sometimes a probate estate must be opened if the loved one is involved in civil litigation or bankruptcy proceedings at the time of death before relief may be granted in these forums.
A good reason to avoid probate is to come in and direct that the assets either be placed in trust or listed as avoiding probate by joint ownership with rights of ownership. Our offices commonly recommend such actions to save trouble, heartache at someone's passing and decrease final expenses.
Families that are interested in directing assets in the event of death while lowering and deferring tax consequences. Setting up a trust is a way to direct assets to chosen loved ones or even charities without contact with any court. There are ways to construct a trust to provide for succeeding generations and provide for beneficiaries who have not reached age of majority. Of the most importance in setting up an estate plan is for persons whose wealth exceeds the statutory limit for inheritance tax. There are several vehicles for abating the inheritance tax which require planning which can benefit succeeding generations to see that the benefit is passed on to the greatest extent possible.
REAL ESTATE LAW
Our office offers assistance in the Mortgage Closing Process to ensure that buyers and sellers alike get the benefit of the bargain. Michigan's Seller's Disclosure Act controls when parties disagree as to the meaning of a Real Estate Purchase Contract. Buyers must rely upon disclosures by the seller as to condition of the property which may not be readily apparant. Disputes arise when defects affecting health and safety arise which were not disclosed. We bring the parties back to the table to iron out misconceptions and make the agreived parties whole.
Buyers face difficulty and hardship at the hands of title agencies and mortgage originators who misrepresent the terms of sale. Our office helps through application of Fair Debt Collection Act and Real Estate Settlement and Transactions Practices Act.
If you're looking forward to your first house and want to save money on inspections, remember the phrase "caveat emptor" or let the buyer be aware. When it comes to finding an inspector, do your homework and find a reputable one who tells you what he will and will not inspect in advance. If an inspector wishes to avoid liability for non disclosure of problems, this is usually contained in a section titled description of services and disclaimer of liability. In Michigan, some courts have enforced disclaimer of liability contained within their agreements so their significance should not be overlooked. Some courts hold that these types of provisions are enforceable so their
significance should not be overlooked. Harpham v Big Moose Home Inspections, Inc, No 321970, 2015 Mich App LEXIS 1881 (Oct 13, 2015) (unpublished); Slater v Hometeam Inspection Serv, Nos 260989, 261860, 2005 Mich App LEXIS 1849 (Aug 4, 2005) (unpublished).
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6 Lakes Legal Services maintains several offices throughout the Metropolitan Detroit area including Livonia, Novi, Southfield, Bloomfield Hills and Troy. We make it easy for people to drop in to discuss their legal issues of all types.