Fairmax Law is a Michigan and Ohio bankruptcy firm offering Chapter 7 and Chapter 13 filing with $0 down options, flexible payment plans, and same-day filing.
Editorially reviewed by Harvey Brooks
Fairmax Law is a regional bankruptcy law firm serving clients across Michigan and Ohio. Founded and led by David Ienna, who earned his Juris Doctor from the University of Toledo in 2012, the firm operates as a collective of attorneys with small local offices in cities including Detroit, Grand Rapids, Flint, Warren, Dearborn, Allen Park, Columbus, and Toledo. The firm has gained media exposure through multiple Fox News appearances, where attorneys have discussed bankruptcy options including student loan discharge.
Fairmax Law focuses exclusively on bankruptcy and debt relief, handling Chapter 7 and Chapter 13 filings as well as business debt restructuring. Their stated service areas include defense against wage garnishment, repossession, and foreclosure. A standout offering is their $0 Down Bankruptcy program, which allows clients to begin the filing process without paying attorney fees upfront. They also provide an online debt calculator that generates a personalized quote without requiring a phone call, and they allow clients to start their case entirely online.
What sets Fairmax Law apart is their emphasis on accessibility and cost relief. The firm promotes a "Best Rate Guarantee," same-day filing capability, and a Three-Step Debt Liberation process designed to walk clients through their options before committing. Their team includes multiple named attorneys — David Ienna, Angela Seymour, Aaron Kimbrell, and Terry Hiller — and the firm publishes client testimonials and attorney-led educational YouTube videos, signaling a degree of transparency uncommon in smaller regional practices.
Fairmax Law is a credible option for Michigan and Ohio residents in genuine financial distress who cannot afford standard upfront legal fees. However, the firm is strictly regional — anyone outside those two states cannot use their services. Fee transparency is limited; the website promotes a calculator for quotes rather than publishing rates directly. Prospective clients should use the online calculator and schedule the free consultation to fully understand total costs before committing.
Yes. Fairmax Law is a registered company headquartered in 55 E Monroe St #3800, Chicago, IL 60603. They hold a NR rating with the Better Business Bureau.
CreditDoc Diagnosis
Fairmax Law is best suited for Michigan and Ohio residents in serious debt who are deterred by upfront legal costs — the $0 down option and online start process make bankruptcy genuinely accessible. The main caveat is strict geographic limitation: the firm serves only two states, and fee details require going through their calculator rather than being published transparently upfront.
Chicago-based bankruptcy law firm filing Chapter 7 and Chapter 13 cases across Illinois, Indiana, and Wisconsin. One of the Midwest's largest consumer bankruptcy practices.
Best for: Illinois, Indiana, or Wisconsin residents unable to repay unsecured debts like credit cards, medical bills, or payday loans, Individuals facing imminent wage garnishment, foreclosure, vehicle repossession, or creditor lawsuits
One of the Midwest's largest consumer bankruptcy law firms, handling Chapter 7 and Chapter 13 filings across Illinois, Indiana, and Wisconsin since 1977.
Best for: Illinois, Indiana, or Wisconsin consumers facing imminent wage garnishment, active creditor lawsuits, or vehicle repossession who need immediate legal protection, Homeowners facing foreclosure or a scheduled sheriff sale who need to halt proceedings through Chapter 13
Chicago bankruptcy law firm offering Chapter 7 and Chapter 13 filings, foreclosure defense, and debt relief legal services with $0 down for qualifying clients.
Best for: Illinois residents facing wage garnishment, foreclosure, or repossession who need immediate legal intervention, Individuals with overwhelming unsecured debt (medical bills, credit cards) who qualify for Chapter 7 discharge
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
When you fail to repay a loan according to the agreed terms — usually after 90-180 days of missed payments. It's the point where the lender gives up on collecting normally.
Default triggers severe consequences: credit score drops 100+ points, the debt may be sent to collections, you could be sued, and your wages or assets could be seized.
Example
You miss 4 consecutive car payments. The lender declares your loan in default, repossesses your car, sells it at auction for $8,000, and you still owe the remaining $5,000 (called a deficiency balance).
A federal agency created in 2010 to protect consumers from unfair financial practices. They write rules, supervise financial companies, and handle consumer complaints.
The CFPB is your most powerful ally against predatory lenders. Filing a complaint with them gets a response from the company within 15 days — companies take CFPB complaints seriously.
Example
A debt collector calls your workplace after you told them to stop. You file a CFPB complaint online. Within 15 days, the collection agency responds and agrees to stop. The CFPB tracks complaint patterns across all companies.
A time limit (typically 3-6 years, varies by state) after which a creditor can no longer sue you to collect a debt. The debt still exists, but they lose the legal power to force payment.
Knowing your state's statute of limitations prevents you from being tricked into paying debts that are legally uncollectable. Beware: making a payment can restart the clock.
Example
You have a $3,000 credit card debt from 2019. Your state has a 4-year statute of limitations. In 2024, a collector calls demanding payment. The statute has expired — they cannot sue you.
A federal law that limits what debt collectors can do. They can't call before 8am or after 9pm, can't harass you, can't lie, and must stop contacting you if you request in writing.
Knowing your FDCPA rights stops abusive collection tactics. If a collector violates the law, you can sue for up to $1,000 per violation plus attorney fees.
Example
A collector calls your workplace 3 times after you told them not to. That's 3 FDCPA violations. You hire a consumer attorney (free — they get paid by the collector). The collector settles for $3,000.
A court order that requires your employer to withhold part of your paycheck and send it directly to a creditor. Usually happens after a creditor sues you and wins a judgment.
Federal law limits garnishment to 25% of disposable income. Some states have lower limits. Student loans and taxes can be garnished without a court order.
Example
You owe $8,000 on a defaulted credit card. The bank sues, gets a judgment, and garnishes your wages. On a $3,000/month net paycheck, they take $750/month until the debt is paid.
The percentage of your monthly gross income that goes toward paying debts. Lenders use it to judge whether you can afford another loan payment.
Most lenders want DTI below 36% for personal loans and below 43% for mortgages. Above that, you're considered overextended and likely to be denied.
Example
You earn $5,000/month gross. Your debts: $1,200 mortgage + $300 car + $200 student loans = $1,700/month. DTI = 34%. A new $400/month loan would push you to 42% — risky for lenders.
Combining multiple debts into one single loan with one monthly payment, ideally at a lower interest rate. It simplifies repayment and can reduce total interest.
Consolidation works best when you get a lower rate than your existing debts. But it doesn't reduce what you owe — and extending the term can mean paying more total interest.
Example
You have: $5,000 at 22% (credit card), $3,000 at 18% (store card), $2,000 at 25% (payday loan). A $10,000 consolidation loan at 11% saves you ~$2,100 in interest over 3 years.
Negotiating with creditors to accept less than the full amount you owe — typically 40-60 cents on the dollar. Usually done after you've already fallen behind on payments.
Settlement can save thousands, but it severely damages your credit (settled accounts show for 7 years) and the IRS may tax the forgiven amount as income.
Example
You owe $15,000 on a credit card and negotiate a settlement of $7,500 (50%). You save $7,500 but: your credit drops 100+ points, the account shows 'settled' for 7 years, and you may owe taxes on the $7,500 forgiven.
When a creditor declares your debt a loss after 180 days of nonpayment and removes it from their books. But you still owe the money — they just stop expecting to collect it themselves.
A charge-off is one of the most damaging entries on your credit report and stays for 7 years. The debt is usually sold to a collection agency who will pursue you for it.
Example
You stop paying your $4,000 credit card. After 180 days, the bank charges it off and sells the debt to a collector for $800. The collector now contacts you demanding the full $4,000 (they profit from what they collect above $800).
When an unpaid debt is transferred or sold to a third-party collection agency that specializes in recovering the money. Collection accounts appear on your credit report for 7 years.
Even a $50 collection account can drop your score 50-100 points. Some newer FICO models (FICO 9) ignore paid collections, but many lenders still use older models.
Example
An old $200 gym bill goes to collections. It appears on all 3 credit reports and drops your 720 score to 640. Paying it helps with newer scoring models but under FICO 8 (still widely used), a paid collection still hurts.
A type of bankruptcy that wipes out most unsecured debts (credit cards, medical bills) by liquidating non-exempt assets. It stays on your credit for 10 years.
Chapter 7 gives you a fresh start but at a steep cost: 10 years on your credit, difficulty getting loans, and you may lose assets. Income must be below your state's median to qualify.
Example
You have $45,000 in credit card debt and earn $35,000/year. Chapter 7 erases the debt. You keep exempt property (basic car, household items). Your score drops to ~500 but you're debt-free.
A type of bankruptcy where you keep your assets but follow a court-approved 3-5 year repayment plan to pay back some or all of your debts. Stays on credit for 7 years.
Chapter 13 is better than Chapter 7 if you have a home or assets you want to keep. It can stop foreclosure and let you catch up on mortgage payments over 3-5 years.
Example
You're 3 months behind on your mortgage and have $30,000 in credit card debt. Chapter 13 stops foreclosure and puts you on a 5-year plan: you pay $600/month to catch up on the mortgage and pay 40% of the credit card debt.
A court ruling that says you legally owe a specific amount to a creditor. It gives the creditor power to garnish wages, freeze bank accounts, or place liens on your property.
Judgments are enforceable for 10-20 years (varies by state) and can be renewed. They give creditors far more collection power than a simple unpaid debt.
Example
A credit card company sues you for $8,000 and wins a judgment. They can now garnish 25% of your paycheck ($750/month on a $3,000 net salary) and freeze your bank account.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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