Bankruptcy

Running a small business in Massachusetts costs money before it makes money. Rent in Boston, Worcester or Springfield climbs every year. Payroll taxes and health insurance mandates add pressure, too. When cash runs short, many owners reach for quick loans or merchant...

Losing a job does not necessarily mean that someone will get to the point of declaring bankruptcy. Nonetheless, job loss is one of the leading causes of bankruptcy.  Here is how job loss can lead to filing for bankruptcy:  Significant financial strain Typically, when...

Many Americans are in debt, and those debts can come from a variety of reasons. For some individuals, the debt load becomes more than they can handle. If that’s the position you’re in, you may be considering bankruptcy.  Bankruptcy is a legal process that makes it...

Chapter 7 bankruptcy filings have provided relief for many people over the years. In 2025, for example, 333,321 people successfully filed for Chapter 7. Not every bankruptcy petition is approved, however, so it’s vital to understand some of the things that could...

Bankruptcy provides financial relief for people who accrue excessive debt or who have a sudden drop in income. Successful personal bankruptcy filings can eliminate certain debts through the discharge granted by the courts. For many people, a single bankruptcy filing...

People may accrue substantial medical debt because they don't have health insurance. Even those with insurance are theoretically at risk of massive medical debts. Needing care from an out-of-network provider could result in tens of thousands of dollars in medical...

You're drowning in debt. The bills keep piling up. You've heard bankruptcy can wipe the slate clean. However, here's the hard truth: filing for bankruptcy won't stop your child support payments. Many people believe bankruptcy eliminates every monthly obligation. This...

Entrepreneurs excited about business concepts often rush forward to start their companies as quickly as possible. They want to corner the market before someone else has the same idea. Unfortunately, some brilliant ideas come before the public is ready for them....

A Chapter 13 bankruptcy plan is a contract with the court and your creditors, designed around your specific financial picture at the time of filing. When that picture changes, whether for the better or worse, the established repayment terms may no longer be accurate....

It is quite possible that bankruptcy filings will increase in the next few months or years. When the economy struggles, there is often an increase in consumer bankruptcies. Things get more expensive, and people cannot afford the debt that they have. Workers may...