If you are struggling financially, the federal bankruptcy laws can help you stop threatening phone calls and foreclosure so you can get a fresh start. You want an experienced attorney to guide you through the bankruptcy process, one who can help you determine whether you should file under Chapter 7 or Chapter 13, and who will help you keep as much of your property as possible.
We understand the emotional and financial challenges that come with personal bankruptcy matters.
Our Personal Bankruptcy Process
We handle all matters related to Chapter 7 and Chapter 13 bankruptcy filings, preparing and submitting all the documents required to initiate and finalize your bankruptcy. We will act as your representative in meetings with creditors, the bankruptcy trustee, and the bankruptcy court. If you decide to file for protection under the bankruptcy laws, we will provide you with the information you need to complete the mandatory credit counseling course before you file.
Once you decide to file, we will carefully review your financial situation with you so that we can help you determine whether you should file under Chapter 7 or under Chapter 13. The bankruptcy laws have changed over the years, making it more difficult to discharge your debts in a Chapter 7 proceeding. You must now submit to a “means test,” whereby the bankruptcy court determines whether you have the ability to repay your creditors over a three- to five-year period.
We will walk you through the means test, so that we can determine whether you qualify under liquidation of your debt under Chapter 7. If you do, we will make certain you understand which debts can be discharged before you file, so that you don’t have unrealistic expectations. Some debts, such as alimony and child support arrearages, cannot be discharged in bankruptcy. Other obligations, such as student loans and taxes, are difficult, though not impossible, to discharge. We will also make certain that any exempt assets, such as principal residence, motor vehicle or retirement assets, are not included in the bankruptcy sale. Under normal circumstances, a Chapter 7 bankruptcy can be completed in four to six months.
If you fail to qualify for Chapter 7 or prefer to repay your creditors, we will help you file for reorganization of your debts under Chapter 13. We will help you prepare proposed repayment plans and will review any proposals that come from your creditors to ensure that they are within your means. If you enter into a repayment plan under Chapter 13, but fail to meet your obligations, you can lose the protection of the bankruptcy law.
Speak with us. Learn your options.
We are located in Salem, Massachusetts and we serve clients throughout Essex County and the North Shore region including Beverly, Danvers, Lynn, Marblehead, Peabody, Saugus, and Wenham.
For a free case evaluation regarding personal bankruptcy or to learn more about filing Chapter 7 or Chapter 13 bankruptcy, please contact us to schedule your appointment.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.