BANKRUPTCY IN MASSACHUSETTS AND CONNECTICUT
HELPING YOU GET YOUR FINANCIAL FRESH START
Bankruptcy is a complex legal process and you will always benefit from the assistance of an experienced attorney. Knowing the law can substantially affect the outcome of your case. Your attorney can help you spot those issues.
You must understand the collateral effects of a bankruptcy: What about our car? What about our boat? How long will it take our credit to recover? Will if effect my husband/wife? Will it effect getting financial aid for my child? What about student loans? Can I get my house out of foreclosure?
Free Introductory Consultation
Bankruptcy is not a decision to be taken lightly or without understanding all of your options. We can help you understand all of your options.
Can I Discharge Student Loans In Bankruptcy?
Sometimes you can, let us help you figure this out.
There are several types, called “Chapters,” of bankruptcy. Which Chapter you choose will be dictated by your needs and circumstances, and will significantly affect what rights a creditor has.
Chapter 7 and Chapter 13 Bankruptcy
With years of experience, our staff has the capabilities and expertise to make filing bankruptcy as painless as possible.
Chapter 7 Bankruptcy
In a Chapter 7 bankruptcy a Trustee is appointed to liquidate available assets, if any exist that are not exempt, to pay a debtor’s creditors. Chapter 7 is available to individuals and businesses, and there are no applicable debt limits. Debtors must be able to pass the “means test” to be eligible for Chapter 7 bankruptcy, which is a formula which takes into account a debtor’s income to determine whether that debtor may file under Chapter 7.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is a re-organizational proceeding rather than a liquidation. It offers individuals or sole proprietorships the ability to propose a plan to repay all or a portion of their debts over three to five years. The Chapter 13 Trustee helps Chapter 13 debtors to organize their assets, communicate with creditors, and make payments. Debtors with a higher income – who are therefore not eligible for Chapter 7 – may choose Chapter 13 reorganization instead.
Chapter 13 offers the additional benefit of allowing you to retain your home and even modify certain kinds of secured claims.