Massachusetts Bankruptcy

Bankruptcy offers debtors a fresh start because bankruptcy protects consumers against lawsuit from creditors. The protection starts after you attend the mandatory pre-bankruptcy counseling session and file your case with the Court. Until that time, creditors can still try to collect on your credit card debt. And, you are not protected from Massachusetts.

Massachusetts has one bankruptcy court, the Massachusetts Bankruptcy District Court that has three locations: Boston , Springfield and Worcester . It serves the entire state of Massachusetts . Most people in Massachusetts file under either Chapter 7 or Chapter 13. Only businesses and those with an extreme amount of assets and debt file Chap 11 BK.

Cost to File Under Chapter 7 & Chapter 13 Bankruptcy
t costs $299 plus attorney fees to file under chapter 7 and $274 plus attorney fees to file under chapter 13.

Avoiding Bankruptcy
Massachusetts chapter 7 bankruptcy laws and Massachusetts chapter 13 bankruptcy laws have changed the landscape of filing for bankruptcy. It is now more complicated and expensive to file for chapter 7 and chapter 13 bankruptcy. But, there are two aggressive, but effective ways of avoiding bankruptcy: loan modification and debt settlement. A debt settlement involves getting your creditors to agree to take less than what you owe as full payment for the debt. A loan modification involves negotiating with your mortgage lender for rates and terms that allow you to stay in the loan. Boston bankruptcy lawyers, Cambridge bankruptcy lawyer, Harvard bankruptcy attorneys and other Massachusetts bankruptcy attorneys can explain your options to you and help you select the best one for your situation.