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After Getting Sued on a Debt in Massachusetts: Supplementary Process and Capias Warrants

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May 11, 2012

This post isn’t about bankruptcy, but it’s about something that a lot of people who are deciding to file bankruptcy deal with. What happens after you stop paying a debt? The basic timeline of debt default goes like this (if one does nothing): 1. Stop paying debt; 2. Calls from original creditor; 3. Debt...
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Massachusetts Bankruptcy Court Allows Federal Homestead Exemption in Second Home

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May 7, 2012

In the interesting yet simple case of in re Lawrence, No. 11-42045-MSH (Bankr.D.Mass. 2012) the court confronted the following uncontested facts. On schedule C to their bankruptcy petition the Lawrences claimed an exemption in the Maine condominium, invoking the Massachusetts homestead exemption pursuant to Mass. Gen. Laws ch. 188 § 3. David M. Nickless,...
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How Long Does a Bankruptcy Case Last?

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April 30, 2012

Understandably, bankruptcy is something people like to put behind them. That’s the whole concept: a court proceeding and a fresh start. The two types of bankruptcy individuals file, Chapter 7 and Chapter 13, have different timelines. The timeline of a normal consumer Chapter 7 case: After a Chapter 7 case is filed, the court...
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Means Test Median Income Figures to Change May 1, 2012

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April 25, 2012

The median income figures dictating who will be subject to the bankruptcy means test (by state and family size) will change on May 1, 2012. Here are the new figures by family size: STATE   1 EARNER     2 PEOPLE     3 PEOPLE     4 PEOPLE *   Alabama $39,531 $47,478...
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Can you File Bankruptcy with a Durable Power of Attorney in Massachusetts?

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March 26, 2012

There is no reported case here in Massachusetts settling the issue of whether one can file bankruptcy on another’s behalf with a durable power of attorney. However, it is likely that this would be allowed if the debtor was incapacitated and unable to participate in their bankruptcy case due to health or disability. We...
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Chapter 12 Bankruptcy Protection for Family Fishermen

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March 23, 2012

Chapter 12 of the Bankruptcy Code is a little-known avenue of debt relief and reorganization for family farmers and fishermen.  Like its better-known cousins, Chapter 13 and Chapter 11, Chapter 12 is a court-supervised debt reorganization.  However, in a few important ways Chapter 12 is the most powerful form of bankruptcy.  Simply put, when the...
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Chapter 11 Bankruptcy Reorganization in a Nutshell

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March 1, 2012

Unlike in Chapter 7 and Chapter 13 bankruptcy, creditors have a vote on what happens in Chapter 11.  Chapter 11 bankruptcy is sometimes used by individuals who are over the Chapter 13 debt limits, but most of the time businesses file Chapter 11 to reorganize or to sell their assets.  The fact that creditors...
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Should I Reaffirm my Mortgage in Bankruptcy?

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January 12, 2012

It may work differently in other states, but here in Massachusetts people do not tend to reaffirm mortgages in Chapter 7 bankruptcy.  First of all, reaffirmation only exists in Chapter 7.  It does not exist in Chapter 13 or 11.  Reaffirmation is a voluntary procedure that can happen within a Chapter 7 case in...
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Can a Second Mortgage Foreclose on my Home?

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January 12, 2012

In theory, the answer is, yes. A junior mortgage, such as a HELOC or other second or third mortgage, can foreclose in Massachusetts.  There are additional procedures for the foreclosure of junior (second, third, etc.) mortgages that are different than those for first mortgage holders. However, in this economy, many junior mortgages are partially...
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