There are many concepts surrounding the filing of bankruptcy that many individuals in Bridgewater, MA may not be familiar with. In fact, there have been some recent changes in the bankruptcy laws in Massachusetts which will affect the residents of East Bridgewater and West Bridgewater who wish to file bankruptcy.
Discussing your financial situation and the possibility of either filing personal bankruptcy or business bankruptcy with a bankruptcy attorney is your best option. As mentioned above, the laws are constantly changing and it is important to have someone on your side that is an expert in this area. Bridgewater bankruptcy lawyer at At the Law Office of Brian R. Lewis, you will find highly qualified professional bankruptcy lawyers who specialize in personal bankruptcy and business bankruptcy. Their number one goal is finding you debt relief.
Although the laws for filing bankruptcy have changed in Bridgewater, MA, it is still possible to have a fresh financial start by filing either Chapter 7 bankruptcy or Chapter 13 bankruptcy – the two most common types of bankruptcy filed.
The new requirements added to the bankruptcy laws of Massachusetts, which includes East Bridgewater and West Bridgewater include the following:
Judgment Proof ” Although some individuals owe money to creditors, this may be considered judgment-proof. This means that a creditor is not allowed to collect what is due from the debts. However, this rule only applies to those individuals who receive income falling below certain levels, and have assets which are fully protected by the exemption laws.
To determine if you are judgment proof, or if your income falls below these set levels, you should contact a bankruptcy lawyer at the Law Office of Brian R. Lewis right away. They will be able to answer any questions you have regarding bankruptcy and whether or not you are judgment proof.
Avoid Bankruptcy ” In some instances, individuals may have debt, but it may be too small to file bankruptcy. This option requires that your debts are small, relative to your income. A bankruptcy attorney can help you understand your entire financial situation and possibly avoid filing bankruptcy all together.
In the event that a bankruptcy does not appear to be your best option, a Bridgewater, MA bankruptcy lawyer from the Law Office of Brian R. Lewis can help you discover alternatives to filing bankruptcy that will help get you and your family back on track.
Other Eligibility Requirements ” If it is determined that filing bankruptcy in Bridgewater, MA is your best option, the bankruptcy attorneys from the Law Office of Brian R. Lewis will work with you, carefully and patiently, to determine whether or not you meet all other bankruptcy requirements. Again, this is never a process you want to go through alone.