Find A Local Massachusetts Bankruptcy Lawyer or Law Firm Right Here

According to statistics from the U.S. Bankruptcy Courts, approximately 1.5 million Americans file for personal bankruptcy. For individuals with crippling debt, bankruptcy is their best chance at getting creditors off their back and get a second chance at their finances.

What Are the Main Causes of Debt?

Debt is tricky. You can be penalized for not having any debt with a poor credit score, but carrying too much debt can leave a person with out-of-control debt. Debt can be overwhelming, and if you are struggling to pay them off, USAttorneys recommends you consult with an accident lawyer in Massachusetts. We have experienced and dedicated bankruptcy lawyers to assist with your case.

The Top Six Causes of Debt in U.S.:

  • Medical Expenses
  • Reduced Income
  • Job Loss
  • Credit Debt
  • Divorce
  • Unexpected Expenses

Above is just a list of common reasons a person can find themselves deeply in debt, but there are plenty of other reasons you’ve found yourself in debt. USAttorneys.com

Debts that cannot be discharged in bankruptcy include:

Alimony

Child support

Student loans

Taxes

Massachusetts Bankruptcy Laws

The State of Massachusetts requires you attend a credit counseling course at least six months before filing for bankruptcy. To find a counseling service near you visit the United States Bankruptcy Court District of Massachusetts website.

http://www.mab.uscourts.gov/mab/notice-approved-personal-financial-management-course-providers

2005 Bankruptcy Act Means Test

Before you can file for Chapter 7 bankruptcy, you must undergo a two-part means test to determine their eligibility. The bankruptcy courts will use a formula to determine if your income is below the state’s median income. After subtracting expenses such as your rent, utilities, and food, the courts will determine if you can afford to pay 25 percent of your unsecured debts.

Next, your non-priority income will be compared to Massachusetts’ median income, and you won’t be allowed to file for Chapter 7 bankruptcy, but Chapter 13 is still an option.

Why Should I Hire a Bankruptcy Lawyer Massachusetts?

To complete the bankruptcy process, you need to choose the method that is right for you considering your finances and your debts. If you have decided to file for bankruptcy, you need to understand the different structures, how they will affect your finances and how long it will take you to complete bankruptcy. USAttorneys.com can help you locate a bankruptcy lawyer near you in Massachusetts. They will look at your finances and help you decide which structure is better for you.

Our team of debt relief specialists will help you with all aspects of your bankruptcy filing including gathering your paperwork and financial documents. Their expertise and advice will be instrumental throughout all stages of your case. Call one of the knowledgeable attorneys today.

Your bankruptcy paperwork should be filed with one of the following bankruptcy courts in Massachusetts:

US Bankruptcy Court

595 Main St #211, Worcester, MA 01608

 

United States Bankruptcy Court

5 Post Office Square, Boston, MA 02109

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