Massachusetts Bankruptcy Attorney Helps Debtors Secure Their Financial Future
Massachusetts Debt Relief Law Firm Has Over 20 Years of Experience Solving Debt Problems
In Massachusetts, an individual, partnership, or a corporation may be eligible to file a bankruptcy petition.
If you find yourself drowning in debt, filing for bankruptcy can be a viable solution for you, once you have consulted with experienced bankruptcy attorney like Susan M. Williams who can look at your unique financial situation, provide valuable insight, and help guide you through the complex process.
Types of Bankruptcy
There are two main types of bankruptcy available to Massachusetts debtors:
- Chapter 7 – known as liquidation. In a Chapter 7 bankruptcy, the debtor will be allowed to keep some of his exempt property, but his non-exempt property will be sold by the bankruptcy trustee and the proceeds used to pay his creditors.
- Chapter 13 – known as reorganization. In a chapter 13 bankruptcy, debtors are allowed to repay their debts over time, usually three to five years. Chapter 13 bankruptcies offer individuals several advantages over liquidation, mainly giving debtors an opportunity to keep their property and save their homes from foreclosure.
Before debtors are allowed to file for bankruptcy, they must participate in a credit counsleing course and obtain a certificate from a nonprofit budget and credit counseling agency approved by the U.S. Bankruptcy Trustee's Office. After filing there is a second course the debtor must participate in which is a debtor education course teaching you how to rehabiltate your credit. The debtor education certificate must be filed with the court in order for the debtor to receive a discharge.
Do I Have to Have an Attorney?
While corporations are required to have an attorney, individual debtors have the right to be a pro se debtor, those who represent themselves. A pro se debtor is responsible for all proceedings in his bankruptcy case, and failure to comply with the federal bankruptcy code and rules may result in dismissal of the petition. For this reason, it is strongly recommended that all debtors seek legal advice before filing for bankruptcy in Massachusetts.
If you are considering filing for bankruptcy in Massachusetts, the attorneys at Susan M. Williams LLC are ready to help. Contact our firm online, by e-mail, or call 860-265-4928 to schedule your free consultation today.