Our Boston bankruptcy lawyers begin by hearing your side of the story.
When you meet with our Boston bankruptcy lawyers you may be more than encouraged to discuss all the details of your current financial situation. Once our Boston bankruptcy lawyers understand your case they should begin to work with you to explain your legal rights and recommend your best possible plan of action.
At your first meeting, our Boston bankruptcy lawyers should explain to you the difference between a Chapter 7 and Chapter 13 case. If you are under a mountain of debt but you do have a job or some other source of regular income, a Chapter 13 bankruptcy may be the right choice for you. Your Boston bankruptcy lawyers may be able to use a Chapter 13 bankruptcy to liquidate the majority of your debts, set up a reasonable debt repayment plan, and just may give you a fresh financial start.
The Massachusetts bankruptcy lawyers who sponsor Total Bankruptcy are experienced in Chapter 13 cases. And that's important because you may need that experience to best present your case.
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A Chapter 13 case begins with the preparation and filing of your bankruptcy petition.
In your petition, you may be required to list certain personal information about yourself, your spouse, and your family, and you must set forth all of your income, your property (assets), your expenses, and all debts (liabilities). Additionally, you must select the specific exemptions to which you are entitled.
Shortly after you file your petition, the bankruptcy court clerk should send a notice of your bankruptcy case to all of the creditors listed in your petition. After that, your case will be assigned to a bankruptcy trustee, who should review your case. The bankruptcy court may also issue an Automatic Stay order. This order prohibits your creditors from collecting their debts from you, from repossessing your car or other property, and from starting or continuing any legal actions against you.
The centerpiece of your Chapter 13 case is your repayment plan
Your repayment plan is an agreement between you and your creditors in which your creditors may agree to forgive a portion of your debts to them in exchange for your commitment to repay your reduced debts over time. Most plans require you to make monthly payments to the bankruptcy trustee - a federal official who is appointed by the court to oversee your case-who in turn makes distributions to your creditors. Typically, your repayment plan may last from three to five years. While you are making payments under a repayment plan, your creditors should not take any collection actions against you, and they are required by law to abide by the terms of your repayment plan.
If you would like to know more about Chapter 13 and your other legal options, simply dial our toll free number, 1-877-349-1309. You may also fill out our secure online case evaluation form with a few details about your situation. All information is kept strictly confidential. One of our experienced professionals should contact you at the convenient time you schedule to provide a free, no-obligation consultation.
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The purpose of this web site is to help you learn everything you need to know about bankruptcy, the process, your bankruptcy attorney and your legal rights. The best place to start is with the U.S. Bankruptcy Code. It delivers protection to people in financial jeopardy who are suffering under mountains of debt. Bankruptcy is your legal right.