Chapter 7 Bankruptcy
Massachusetts Chapter 7 Bankruptcy Attorney
Chapter 7 bankruptcy is the most common type of bankruptcy filing. It eliminates most debts. Many people do not have to pay any of their debts after filing Chapter 7. It is the best option when people have experienced significant unemployment or have accumulated large credit card or medical debt.
Massachusetts Bankruptcy Lawyer
To learn more about Chapter 7 bankruptcy, contact me at Easy Bankruptcy, LLP for a free consultation. I will help you determine whether this type of bankruptcy is the right option for your situation. I will also review the filing process and answer your questions about alternatives to Chapter 7.
What Kinds of Debts Does Chapter 7 Bankruptcy Eliminate?
Although Chapter 7 does not cancel all debts, in most circumstances you will not have to pay these categories of indebtedness:
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Past due utility bills
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Most auto accident claims against you
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Most bad checks
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Business debts
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Past due rent and other lease payments
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Many tax payments and penalties
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Most civil court judgments
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Most attorney fees
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Past due charge accounts
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VA loans
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Personal loans from relatives, employers, and friends
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Accounts in collection
Some categories of debt cannot be eliminated under Chapter 7 except in very precise circumstances. These debts include student loans, unpaid child support and alimony, certain types of taxes, judgments against you for “willful and malicious” injury to people or property, drunken driving judgments, and any debt you failed to include in the Chapter 7 filing.
How Does Chapter 7 Bankruptcy work?
First, you will need to file a petition for Chapter 7 bankruptcy protection with the court. I will draft the petition based on the information you provide about your assets and debts. I will make sure you are positioned for success. You will also need to obtain credit counseling and receive a certificate of completion to include with your petition.
The most immediate benefit to filing either Chapter 7 or Chapter 13 bankruptcy is the automatic stay that kicks in right after you file. After the automatic stay becomes effective, creditors receive notice of your filing and must stop any efforts to collect the debt. This means that creditors will no longer harass you with phone calls and threatening letters. Just as important, the automatic stay means that creditors can no longer garnish your wages.
After the petition is filed, you must complete a financial management course (either online or in person). I will give you a list of court-approved courses to choose from. You must obtain a certificate of completion to take to the meeting of creditors.
The next step in the process is to attend a meeting of creditors with the bankruptcy trustee assigned to your case. This is a chance for creditors to ask questions, but creditors rarely attend such meetings. In many instances, your Chapter 7 bankruptcy will be approved at this step without the need for further meetings.
Questions?
MA Attorney Answering Your Bankruptcy Questions
People filing for bankruptcy protection usually have many questions. Will I lose my house and car? Should I keep paying rent or the mortgage? How long does the process take? What should I do if creditors keep calling after the automatic stay becomes effective? Can I protect my retirement fund? Bankruptcy lawyers at Easy Bankruptcy, LLP answers questions like these and many more, offering advice and suggestions at every stage of the process.
Learn More About Chapter 7. Call Attleboro Law Firm Bisio Bankruptcy Law. Free Consultation.
If you are overwhelmed with debt, consider Chapter 7 bankruptcy. Contact Easy Bankruptcy Law to learn if Chapter 7 is right for you and find out how to get started. Send an email [Link to Contact Us Page] or call 508-212-9210 for a free consultation. We help clients in Massachusetts.