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Bankruptcy Qualifications

Bankruptcy Qualifications

Qualifying for Bankruptcy in Massachusetts

There have been changes recently in bankruptcy laws that have added new requirements. However, it is still possible for both consumers and businesses to find debt relief through Chapter 7 or Chapter 13 bankruptcy. During your free initial consultation, one of our highly qualified bankruptcy attorneys will take time to find answers to your questions relating to your specific ability to meet these new requirements, including:

Are you “Judgment Proof”?

Some people owe money to creditors, but they may be deemed judgment-proof. This means a creditor cannot collect what is due on any debts. This applies to individuals who receive income falling below certain levels and have assets which are fully protected by the exemption laws.

Is your debt small enough to avoid bankruptcy?

We will work with you to understand your complete financial situation. If your debts are small enough, relative to your income, filing bankruptcy may not be a good option. In this case, we often pursue bankruptcy alternatives to assist individuals and families to get back on their feet.

If bankruptcy does appear to be the best and only option, our office will carefully and patiently work through your case to explain the process to determine whether you meet all eligibility requirements. Very few people are unable to file either a Chapter 7 or Chapter 13 bankruptcy. Although bankruptcy should always be the last resort, it is often the best option to help you start over financially.

Determining whether or not bankruptcy is the best financial option for you and your family can be difficult to understand. Making sure you keep your home, car and other assets is a top priority of the Law Office of Brian R. Lewis. Please contact us today for your free initial consultation to discuss your specific financial situation, including the option of bankruptcy

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