In terms of geographic area, Macomb County is one of Michigan’s smaller counties. The total land area is 569 square miles, but 15% of that is water, meaning that Macomb County’s land area encompasses roughly 482 square miles.

Despite its relatively small size, Macomb County is Michigan’s third most populous county, with 840,978 residents according to the 2010 census. It is part of the Detroit metropolitan area, lying north of Wayne County. It is further bordered by Oakland County on the west, by Lapeer and St. Clair Counties to the north, and by Lake St. Clair to the east.

Macomb County contains 13 cities, eleven townships, and three villages, and the county seat is the city of Mount Clemens.

The Recent Sharp Economic Decline in Macomb County and Elswhere in Michigan is Leading to Increased Numbers of Bankruptcies

The nationwide economic downturn that was spurred by the mortgage and banking crisis did not leave Michigan unscathed; unfortunately, the opposite is true. Michigan, overall, has experienced unemployment rates higher than many other states, partly due to Michigan’s heavy reliance upon the suffering automobile industry to keep its economy robust.

As a result, in the last few years, Macomb County has suffered particularly high unemployment rates, peaking, by official records, at over 16% during 2009. And while unemployment rates have recently gone down to just over 11%, the unemployment rate in Macomb County remains higher than the national average.

Even more, Macomb County homeowners have seen their house prices drop in during the recent economic downturn. From its peak in 2006 of just over $150,000, the average price of a home in Macomb County dropped dramatically, to below $100,000. Although the average home price has climbed somewhat in recent quarters to around $110,000, that is partially explained by the limited number of homes on the market; as housing prices have dropped, homeowners who face being underwater in their mortgages find themselves unable to sell their homes without having to face a short sale. Overall, Macomb County homeowners have seen a dramatic loss of home equity.

Given these statistics, it is not surprising to see that Michigan bankruptcies have increased over the last several years, for both individuals and businesses. According to information compiled by the American Bankruptcy Institute, in 2007, 32,050 individuals filed for bankruptcy under Chapter 7 in Michigan. By 2010, that number had climbed to 56,359.

If You are Having Financial Difficulties, and Want to Find Out if a Bankruptcy May be the Right Option for You, the Biernat Law Group Can Help

As a general rule, it is fair to say that many of the bankruptcies that have been filed in Michigan in recent years are not the result of individuals or businesses making unwise investment decisions or managing their finances poorly, but are instead a product of the struggles many individuals are facing due to job loss, reduced wages, and a loss in value of their most important assets. Ironically, this loss in income and savings has forced individuals and businesses to access lines of credit in order to keep their households or businesses operating, leading to even greater financial burdens and challenges.

While most people accessing credit try to remain optimistic that they can overcome their financial hurdles, at some point, a debt load may become so unmanageable that the only way out is to seek extraordinary relief. This is why bankruptcy laws were written, and this is why bankruptcy courts exist.

If you are a resident of Macomb County, and you have reached the point where you know you need some outside help in resolving your financial difficulties, the Biernat Law Group can assist you. We are a small law firm located in Mount Clemens that specializes in helping individuals and small businesses assess their debt structure, evaluate their options, and, if necessary navigate the laws and procedures of the U.S. bankruptcy system.

The Appropriate Bankruptcy Court for Macomb County is Located in Detroit, Michigan

Because bankruptcies are administered under federal law, they are handled by United States bankruptcy courts. For Macomb County, the appropriate court is the United States Bankruptcy Court for the Eastern District of Michigan located in Detroit, at:

211 West Fort Street
Detroit, Michigan 48226

Call the Biernat Law Group if You Need Help on any Bankruptcy Matter

When you need someone to provide you with information and advice on whether a bankruptcy is right for you, or even if you just need an attorney to review a petition for a bankruptcy you intend to file yourself to make sure it is in proper legal order, call the Biernat Law Group for a personal consultation at (586) 493-5377.