For an average person

it can be however

difficult if not

impossible to make

sense of the

bankruptcy laws of

Massachusetts. Hence,

if a person is not

able to hire an

efficient and

experienced Bankruptcy

Massachusetts lawyer

he can find it pretty

much puzzling

In fact the Boston bankruptcy services in

the state of Massachusetts will be able to

help a person in the very best manner by

offering them with the required amount of

knowledge about the bankruptcy laws of the

state

If you are among

those who find

themselves falling

behind on your

monthly payments,

the best thing you

can do is let your

creditors know

right away

However each

creditor may have

different policies

and if nothing

seem to work talk

to a lawyer in

order to file

Framingham

Bankruptcy

Chapter 7 is known as “straight” bankruptcy or

“liquidation.” It requires a debtor to give up

property which exceeds certain limits called

“exemptions”, so the property can be sold to pay

creditors.

Chapter 13 is called “debt adjustment”. It

requires a debtor to file a plan to pay debts (or

parts of debts) from current income. Exemptions

also apply in a Chapter 13.

Qualifications to file for bankruptcy in

Massachusetts

Qualification for filing a Chapter 7

Massachusetts bankruptcy is the ability to

demonstrate that your net monthly income is

approximately equal to your total monthly

expenses. In addition, you have to prove that

your income over the past six month period

exceeds the state median income and you may

be required to file a chapter 13 bankruptcy,

which generally requires some debt repayment.

massachusettsbankruptcycenter.com