Chapter 7 Bankruptcy

Credit card balances can grow faster than expected. Interest charges and late fees can make it harder to catch up, especially when you can only afford the minimum payment each month. For some Andover residents, Chapter 7 bankruptcy may offer a way to clear certain...

Filing Chapter 7 bankruptcy can relieve the pressure of debts that have become impossible to manage. That relief often comes with concern about the filing’s effect on future borrowing. If you are considering Chapter 7, knowing how your credit profile could change may...

Many people delay asking about bankruptcy because they assume their income is too high. They may have a steady paycheck, a spouse who works or a household income that looks comfortable on paper. At the same time, credit cards, medical bills, personal loans or missed...

A Chapter 7 bankruptcy is also known as a liquidation bankruptcy. People may need to liquidate some of their property before the courts will grant them a discharge of the remaining amount they owe. The law allows for certain exemptions that protect assets from forced...

Debt problems do not begin with the intention of filing for bankruptcy. However, when your bills grow faster than your ability to pay, Chapter 7 bankruptcy can become a path toward relief. Chapter 7 bankruptcy is a legal process that allows you to erase common debts,...

If you are filing for Chapter 7 for the first time, you may have some questions about the process. Particularly, you might be wondering which debts can be discharged. This post covers your concerns and the additional protections Massachusetts can provide. Which...

Facing overwhelming debt can feel exhausting and isolating. When bills continue to pile up, and income no longer covers basic obligations, many people look for a way to reset their finances and regain control of their future. Chapter 7 bankruptcy is one option...

Chapter 7 bankruptcy is a relatively rapid process. People can stop collection activity quickly and may be able to discharge eligible debts in a handful of months. Chapter 7 proceedings are subject to strict oversight, including rules that require a filer to pass a...

Chapter 13 bankruptcy requires years of commitment to a payment plan. It is a much longer process than Chapter 7 bankruptcy. Each person contemplating bankruptcy has unique circumstances that influence the best approach to the process. There are numerous circumstances...

When people file for bankruptcy, their credit circumstances shift abruptly. They have immediate protection from ongoing collection activity, but they also lose access to their revolving lines of credit. The record of their bankruptcy may affect their credit...