Answering Common Bankruptcy Questions
The information below is intended to provide general information to common bankruptcy questions. This information is not intended to be legal advice.
Do I Need an Attorney to File Bankruptcy?
You can file bankruptcy without the assistance of a lawyer. However, many specific steps must be taken in order to complete a bankruptcy, and if you make a mistake, you may lose assets that you hoped to keep. For example, if you want to exempt real estate in Massachusetts, you must record a declaration of homestead for the property. If you do not complete this step, your home may not be exempt and may be sold in a bankruptcy. To ensure that you obtain the debt relief you need and protect your assets to the fullest extent possible, you should retain an attorney to help you navigate the complicated process.
Am I Prevented From Filing Chapter 7 Bankruptcy if I am a Wage Earner?
Credit card companies may want you to believe that. However, most wage earners with serious debt problems are eligible to file Chapter 7 bankruptcy. I have helped a number of people file for Chapter 7 bankruptcy, even after they were told by other lawyers they were not eligible. Learn more about Chapter 7 eligibility.
Will I Lose All of My Property if I File Bankruptcy?
Upon filing a Chapter 7 bankruptcy, the bankruptcy trustee can take possession of your non-exempt property and sell it to pay your creditors. However, there are many types of property that are exempt. Nearly all of my clients who file Chapter 7 bankruptcy have lost nothing other than their debts. Learn more about bankruptcy and your property.
Is Debt Settlement/Consolidation/Negotiation an Alternative to Bankruptcy?
There are many types of business that promise to consolidate your debts. These businesses claim that you will pay pennies on the dollar to settle your debts. While some of the businesses that provide these services are reputable, others are not. In far too many cases, people pay large fees to "credit counseling" firms, but eventually file for bankruptcy in the end because they do not get the debt relief they were promised. Only bankruptcy offers you full protection from your creditors.
Free Consultation With a Bankruptcy Attorney
To discuss your financial issues with an experienced and compassionate bankruptcy lawyer, call 866-959-9065 or fill out the contact form on this Web site to schedule your free initial consultation. My office is conveniently located in downtown Boston and is accessible by all T lines. I also have meeting locations throughout the Greater Boston, Metro West and North Shore areas.