My question involves bankruptcy in the state of: Michigan
I'm talking to a bankruptcy lawyer. My problem is...over the last several years I have watched my families saving slowly disappear. I purchased a business and rental units several years ago, the business failed, abysmal renters. I'm current on everything, two mortgages, one very small auto loan, and have zero credit card debit. Without the commercial mortgage I'd be fine.
Anyway, lawyers plan is; file chp 13, pay small amt to trustee, give it a few months then return commercial property to bank in loo of foreclosure, then dismiss bankruptcy case.
Is this plan realistic? or is he just going for a fee and the last of my savings.