Boston Bankruptcy Lawyer

Debt Relief Through Filing For Bankruptcy In Boston

There are many different ways that very well meaning people can find themselves unable to keep up on their mortgage, credit card debts, personal loans, and even their vehicle payments. When your debt is significant, simple debt relief programs won’t correct the problem, but filing for bankruptcy with Smeloff & Associates can assist you in stopping harassment from creditors and even foreclosure.

When you come in to see us from Boston, MA, we will meet with you and discuss your options. In Massachusetts, as throughout the United States, you have two different options when filing for bankruptcy.

Chapter 7 Bankruptcy

One option for people that have no ability to pay back debt and who own few assets can be handled by our Chapter 7 bankruptcy attorneys. Chapter 7 is often known as liquidation, as you will liquidate your assets, with some exemptions, so this amount will be used by your bankruptcy trustee to settle your debts with your creditors.

To qualify for a Chapter 7 bankruptcy, you must pass a means test and demonstrate the inability to be able to pay off your bills using a Chapter 13 bankruptcy or other debt settlement type of arrangement.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy in Boston, MA, is sometimes known as a restructuring of debt. You will still make regular payments on all your debts, and also catch up on missed payments over a three to five year period. You will retain all your assets and, with this bankruptcy, you can stop foreclosure and get debt relief from creditors as well.

Bankruptcy is important an option to consider to get out from under debt and start over. Talk to our Chapter 13 and Chapter 7 bankruptcy attorneys about how we can help with your debt relief.

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