BANKRUPTCY LAW

Experienced Massachusetts Bankruptcy Attorneys | Boston Metro | Braintree | Brockton | Randolph | Stoughton | Quincy | Weymouth | Massachusetts

The bankruptcy lawyers at Nashawaty & Rand know bankruptcy law. Bankruptcy is a federal law protecting any debtor with more debt than assets.  It also protects an individual from being deprived of necessary living expenses to service monthly debt.  Its function is to protect against mounting debt, when your monthly income is not enough to pay all of your monthly living and debt expenses.

Chapter 7 allows for qualified debtors to obtain a discharge of most debt, allowing for a "fresh start".  To qualify, your income must be below the median income for your state and household size.  A "means test is used to determine your eligibility to file under Chapter 7.

Chapter 13 provides for one monthly payment to a Trustee.  The payment plan lasts from 3 to 5 years.  You get to keep your assets.  At the end of the plan, most remaining debt is discharged.  The Chapter 13 Plan can include late mortgage payments.  It can also "strip off" second mortgagors with no real security against the home value. 

Facilitation is skilled communication resulting from years of experience in the field of debt management and re-structuring.  We have the experience to know what you need and to make it so.

If you think you need help in avoiding foreclosure, managing your debt, or working with your creditors, contact us for an assessment and fee quote. Contact Bankruptcy Attorney Nashawaty for help avoiding foreclosure, managing your debt and working with creditors.

Provide some information about your bankruptcy situation and we will contact you with an initial assessment of the course you should choose.