When you find yourself in dire financial straits, bankruptcy may be the best way to resolve your situation. The preferred form of bankruptcy for most Massachusetts residents is Chapter 7. It is relatively fast and in many cases allows you to keep some of your possessions. Unfortunately, the bankruptcy means test deters some people from considering this as a remedy.
There are many reasons for a financial crisis such as the loss of a job or a medical emergency. It is typically impossible to predict these life-changing events and the financial damage they cause. When the time comes to remedy this financial damage, many people consider filing a Chapter 7 bankruptcy.
The word bankruptcy is one of the most terrifying terms hardworking Massachusetts residents will hear in the course of their lives. To many, it is a symbol for total failure when it comes to acquiring--and maintaining--the American dream.