Chapter 13 Bankruptcy Lawyer Boston

Navigating financial challenges can be difficult, but Chapter 13 bankruptcy provides a structured path to regaining control of your finances. At the Massachusetts Bankruptcy Center, our chapter 13 bankruptcy lawyer Boston specialize in guiding residents through the complexities of Chapter 13 bankruptcy, offering customized solutions to help you get a fresh financial start.

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Understanding Chapter 13 Bankruptcy in Boston, MA

Chapter 13 bankruptcy, also known as a “wage earner’s plan,” enables people with regular income to create a plan to repay all or part of their debts over three to five years. Unlike Chapter 7, which involves liquidating assets to pay creditors, Chapter 13 bankruptcy focuses on reorganization, allowing you to keep your property while catching up on past-due payments.

Key Benefits of Chapter 13 Bankruptcy

Asset Protection: Maintain ownership of your home, car, and other valuable assets.
Debt Consolidation: Combine multiple debts into a single, manageable monthly payment.
Foreclosure Prevention: Stop foreclosure proceedings and allow you to catch up on missed mortgage payments.
Credit Impact: While Chapter 13 bankruptcy remains on your credit report for seven years, it shows a commitment to repaying debts. This can be beneficial when compared to other types of bankruptcy.

The Chapter 13 Bankruptcy Process

Filing for Chapter 13 bankruptcy consists of several key steps:

Credit Counseling: Schedule a credit counseling session with an approved agency within 180 days of filing.
Petition Filing: File a bankruptcy petition with the court, providing detailed financial information such as income, expenses, assets, and liabilities.
Automatic Stay: When you file, an automatic stay is issued, which stops most collection activities against you, including foreclosure and repossession.
Repayment Plan Proposal: Create a repayment plan outlining how debts will be repaid over three to five years, focusing on secured and priority debts.
Meeting of Creditors (341 Meeting): Meet with the bankruptcy trustee and creditors to discuss your financial situation and proposed plan.
Confirmation Hearing: The court reviews and approves the repayment plan, ensuring that it meets all legal requirements and is feasible.
Plan Execution: Begin making regular payments to the trustee, who will distribute funds to creditors by the confirmed plan.
Discharge: After making all plan payments, any remaining eligible debts are discharged, freeing you from personal liability for them.

Maintaining open communication with our bankruptcy attorney and following the repayment plan are critical to a successful outcome.

How Our Bankruptcy Law Firm in Boston Can Assist You

At the Massachusetts Bankruptcy Center, we take pride in guiding Boston residents through the complexities of Chapter 13 bankruptcy. We provide personalized and comprehensive assistance. Our lawyers provide the following services:

Personalized Consultation: We begin by thoroughly assessing your financial situation to determine whether Chapter 13 bankruptcy is right for you. A detailed analysis of your income, expenses, debts, and assets is required to develop a customized approach.
Customized Repayment Plan Development: Our experienced attorneys work with you to create a feasible repayment plan that is within your financial capabilities. We ensure that the plan meets all legal requirements and is customized to your specific needs, to lower monthly payments and protect critical assets.
Legal Representation: Navigating bankruptcy proceedings can be challenging. We represent you at all court hearings, including creditors’ meetings and plan confirmation hearings, fighting for your interests and ensuring that your rights are protected throughout the process.
Creditor Negotiations: Our team works with creditors on your behalf to negotiate favorable and sustainable terms. We work to stop collection actions, prevent foreclosures, and manage creditor communications so you can focus on rebuilding your financial health.
Ongoing Support and Guidance: Filing for Chapter 13 bankruptcy is a long-term commitment. We provide ongoing support throughout the repayment period, assisting with plan modifications as your financial situation changes and providing advice to help you stay on track.

Contact Our Chapter 13 Bankruptcy Lawyers in Boston, MA

Financial challenges can be difficult, but taking proactive steps is critical to regaining control. The Massachusetts Bankruptcy Center specializes in guiding individuals through Chapter 13 bankruptcy. It provides personalized solutions to restructure debts and achieve financial stability.

Our experienced bankruptcy lawyers provide comprehensive assistance, from initial consultations to the development of customized repayment plans. We take pride in guiding you through the complexities of bankruptcy law. Ensuring that you understand your options and make informed decisions. Contact us today to set up a free consultation and take the first step toward a secure financial future.

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