Filing Bankruptcy in Massachusetts
On this site, we give you the honest, straightforward answers you're looking
for about filing for bankruptcy in Massachusetts.
If you are interested in learning more, you can call us at 617-338-9400, fill out
this form, or email us email@example.com
for a free consultation. We have over ten years of experience helping Massachusetts consumers and
businesses successfully navigate the bankruptcy system. You can read some reviews here.
Here are some common questions about filing bankruptcy in Massachusetts:
If you can't afford to pay your debts, it's a powerful option to consider. Many
people have filed bankruptcy and come through to the other side in better shape,
financially and psychologically. Bankruptcy can often be the only path to financial freedom and
fresh start, and getting free of the burden of debt can release creativity and
strengthen families. We explain the process, the pros and cons, the credit issues,
and the fees on this site.
Bankruptcy either eliminates most debts or reduces them to an
affordable level. People file because they can't afford to pay their debts,
especially given mounting interest and penalties. They are often caught in the
vicious cycle of robbing Peter to pay Paul.
People also file bankruptcy because they are being harassed,
facing lawsuits, foreclosures or repossessions.
Chapter 7 wipes out most debts. The discharged debts include things like credit cards and medical bills.
Whether you qualify is mainly based on your income.
The Chapter 7 page has the details....
Chapter 13 is a partial repayment plan of your debts that, when completed, results in
the balances of most debts being discharged. Chapter 13 can also help save peoples' homes
and deal effectively with tax problems. Visit the
Chapter 13 page to get the details....
The "automatic stay" puts a stop to the feeding frenzy of calls and lawsuits upon
the filing of the bankruptcy case.
Once a bankruptcy is filed, everyone must stop collecting debts from you. Read more here....
The Massachusetts exemptions, along with the federal exemptions, define what you keep and what
you lose in Chapter 7 Bankruptcy. They also help define your payment if you are in Chapter 13.
Most people keep all their property in bankruptcy.
Massachusetts Exemption Page.
The advantages of bankruptcy are usually obvious. When it comes down to it,
bankruptcy is sometimes the only thing that can provide significant relief from
burdensome debt. Discharging or substantially reducing credit card and
other debt can radically improve your finances and quality of life. If
you qualify (which you can find out by contacting us for a consultation),
bankruptcy can provide tax-free, legal debt forgiveness and a fresh start.
Bankruptcy is also sometimes the only way to save your home from foreclosure
or prevent the taxing authorities or a creditor from taking action against you. If this is
your situation, you shouldn't procrastinate: significant harm can come from
waiting (like the filing of a tax lien or an encroaching foreclosure date.)
Some people worry a lot about credit when considering to file bankruptcy.
This doesn't make a lot of sense when credit is already severely damaged.
In this situation, bankruptcy can be used to clear up credit balances, qualify
for new loans, and re-build credit history by making timely payments.
Bankruptcy hurts your credit. Later, it gives you the ability to rebuild your
credit by eliminating the debts causing you problems. It's a little like
quickly pulling off a Band-Aid. Bankruptcy is gone completely from your
credit after enough time passes. Read more here....
We usually charge $1,250 for either a Chapter 7 or Chapter 13. (More fees come out of your payment
in Chapter 13, reducing your creditors' percentage, not making you pay more).
More detail about our fees can be found here.
Usually you only have to go once. We will go with you. Based on your address, you will be assigned a meeting in Boston, Brockton, Worcester, Springfield, or Pittsfield. Read more here....