Massachusetts Bankruptcy Information
When filing a Bankruptcy in Massachusetts it is important to understand the differences between the types of Massachusetts Bankruptcies the following information contains bankruptcy information so that you may understand the differences between a Chapter 7 Bankruptcy and Chapter 13 Bankruptcy. As a Bankruptcy Lawyer in Massachusetts it is my job to recommend the best type of Bankruptcy for you and your family.
As a Massachusetts Bankruptcy Lawyer I can help you to stop foreclosure, rework wage assignments, stop harassing creditor calls, and help you with a new start on life.
It’s important for my clients to understand the Bankruptcy Process so please take the time and read the information below to ensure you understand the differences between a Chapter 7 and a Chapter 13 bankruptcy, many of the terms and definitions pertaining to the bankruptcy process, and the potential consequences of filing bankruptcy.
As a Massachusetts Bankruptcy Lawyer I can provide clarification and answer any questions you may have regarding the information in this document at our free half hour private consultation.
Massachusetts Bankruptcy Law:
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is sometimes called a straight bankruptcy or fresh start bankruptcy.
The debtor (Bankruptcy Filer) after a hearing and review by the Chapter 7 Bankruptcy Trustee, will receive a discharge of all debts which are deemed dischargeable under the Bankruptcy Code. Your Massachusetts Bankruptcy Lawyer will be able to guide you in the filing of your Bankruptcy Petition and explain the differences between secured and unsecured debt and the associated creditors.
The Life of a Chapter 7 Bankruptcy is approximately four months in which time you are in the Bankruptcy Proceeding and are protected by the automatic stay. After you receive your discharge you will then be free of those debts that have been discharges and may take steps on improving your credit rating.
It is important that you consult with your Massachusetts Bankruptcy Lawyer at all times throughout the Bankruptcy Process to ensure you are following the guidelines and keeping on top of your case.
Chapter 7 Bankruptcy Cases normally have little or no assets however there are exemptions that may be taken from the Federal Exemptions or Massachusetts State Exemption to protect some if not all of your assets. Only your Massachusetts Bankruptcy Lawyer can tell you which exemptions are the right ones for you.
The purpose of a Chapter 7 Bankruptcy is to give a person a “Fresh Start”, who previously was burdened with too much debt. Only a Massachusetts Bankruptcy Lawyer can tell you if you are eligible to file a Chapter 7 Bankruptcy Petition.
Chapter 13 Bankruptcy
When filing a Bankruptcy in Massachusetts its important to know your options a Massachusetts Bankruptcy Lawyer can help you decide whether a Chapter 13 Bankruptcy in Massachusetts is an option for you.
Chapter 13 Bankruptcy is also known as a reorganization bankruptcy or wage earner Bankruptcy. You must always ask your Massachusetts Bankruptcy Lawyer which is right for you. Chapter 13 Bankruptcy is filed by individuals who want to pay off their debts over a period of three to five years or who do not qualify to file a chapter 7. A Chapter 13 Bankruptcy appeals to individuals who have non-exempt property that they want to keep.
An example would be if you had a Home in Foreclosure and you wanted to stop the foreclosure you could file a Chapter 13 Bankruptcy which would stay the foreclosure so you can reorganize your debts and pay off your mortgage arrears. Chapter 13 Bankruptcies are more difficult and require a Massachusetts Bankruptcy Lawyer who is experienced and knowledgeable such as Attorney Lee Darst. Attorney Darst can guide you through these troubled times and help you keep your home from foreclosure.
If you have income and a house in foreclosure, it is important to contact your Massachusetts Bankruptcy Lawyer Lee Darst to see if you meet the requirements to file a Chapter 13 Bankruptcy Petition. It is also only an option for individuals who have predictable income and whose income is sufficient to pay their reasonable expenses with some amount left over to pay off their debts.
If you feel you need to file a Chapter 13 Bankruptcy in Massachusetts please call a Massachusetts Bankruptcy Lawyer to help you guide your way through troubled times. Lee Darst is a Massachusetts Bankruptcy Lawyer who can help you.
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Attorney Lee Darst serves the following areas:
Barnstable, Bourne, Buzzards Bay, Centerville, Cotuit, East Falmouth, East Sandwich, Falmouth, Forestdale, Hatchville, Hyannis, Marstons Mills, Monument Beach, Mashpee, New Seabury, North Falmouth, Pocasset, Sagamore, Sagamore Beach, Sandwich, Teaticket, West Falmouth
Avon, Braintree, Canton, Cohasset, Dedham, Dover, East Milton, Holbrook, Milton, Needham, No. Quincy, North Weymouth, Quincy, Randolph, Sharon, South Quincy, South Weymouth, Stoughton, Westwood, Weymouth, Wollaston
Abington, Bridgewater, Brockton, Carver, Duxbury, E. Bridgewater, Halifax, Hanover, Hanson, Hingham, Hull, Kingston, Lakeville, Marion, Marshfield, Mattapoisett, Middleboro, Norwell, Pembroke, Plymouth, Plympton, Rochester, Rockland, Scituate, Wareham, W. Bridgewater, Whitman