Chapter 13 Bankruptcy Lawyer in Massachusetts
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Chapter 13 can be used to reorganize debts and help property owners retain their homes, cars, and other valuable assets while paying down debts. Under the protection and guidance of the bankruptcy court, you may also be able to file for Chapter 13 bankruptcy. This will allow you to stop wage garnishment, foreclosures, or repossessions and reduce or eliminate credit card debt. The best part about bankruptcy is that it allows you to start over. Our years of experience will help you decide whether a default suits your needs. We can handle Chapter 13 cases in Massachusetts.
Are you having trouble paying your bills?
Bankruptcies in Massachusetts are described as either liquidation or reorganization; here, we will discuss the option for reorganization/repayment. Chapter 13 bankruptcy is designed to assist married couples and individuals in consolidating, reducing, eliminating, repaying, prioritizing, and prioritizing old debts while protecting creditors. This allows you to make a single repayment plan, which the court manages. Rather than dealing with multiple creditors and bills, this method will enable you to do away with the need to manage numerous creditors and accounts. Reorganization or repayment of debt allows the creditor to agree to a debt repayment plan that is interest-free and will enable them to repay all or part of their debts over a set period, usually three to five years. Creditors are prohibited from contacting you or collecting your debts during this period. The court will approve the plan.
Get help from our knowledgeable bankruptcy attorneys for Chapter 13 in Massachusetts.
Important to remember is that an individual must have regular/recurring income as they will need to pay monthly living expenses and court repayments for consolidated debts. A Chapter 13 Personal Bankruptcy Petition is filed to allow homeowners to avoid foreclosure, which eventually leads to their homes being lost. The court will also stop foreclosure if homeowners can continue paying their regular mortgage payments, property taxes, and insurance. In most cases, the court will require the homeowner to arrange to pay off the mortgage arrears over some time.
Are you already receiving a foreclosure notice?
It is still possible to get back on track. Chapter 13 bankruptcy in Massachusetts provides another important benefit: creditors are not subject to collection actions. Creditor harassment, wage garnishment, and auto repossessions can all be stopped. We work with our clients to create a healthy plan for them. The court will consider whether other debts or percentages can be repaid without interest, depending on your debt. Sometimes, repayment is optional.
Although we understand that debt can be overwhelming, there are options. Your life will be easier if you get rid of your debt obligations through Chapter 13. Let’s help you stop living paycheck-to-paycheck. Stop creditors calling you and end the harassing phone calls. Eliminate the fear that your mailbox might contain a foreclosure notice. We are committed to our clients and will provide a debt-free future. Massachusetts’s legal team is ready to help you achieve financial independence. Be sure to file for bankruptcy. You will feel relieved knowing your finances and possessions are in order the faster you file for Chapter 13 bankruptcy. Contact us today to receive a free personal debt assessment!