Most people believe that they will lose everything if they file bankruptcy, but most who file Chapter 7 actually get to keep all of their assets by claiming exemptions.
Chapter 7 bankruptcy is designed to help you eliminate unsecured debts such as credit cards, retail charge cards, medical bills, and certain judgments. In order to file, you must qualify under an income means test. As soon as you file for Chapter 7 bankruptcy, creditors are ordered to stop all communications and collection efforts immediately. It will temporarily stop foreclosure proceedings if you are behind on mortgage payments.
A trustee appointed by the bankruptcy court will review your assets, liabilities and exemptions. They may also liquidate some of your assets to repay creditors, however most debtors are able to discharge their debts without losing any assets at all.
Get in touch with us today to request a free initial consultation. Doug would be happy to listen to your concerns, answer your questions, and help you navigate the bankruptcy process. Just call (781) 767-9300 or fill out our contact form.
The Law Office of Doug Surprenant serves clients in the following areas:
40 S Franklin St,
Holbrook, MA 02343
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The information contained on this website is presented for informational and marketing purposes only and is not to be understood as legal advice. You should consult an attorney for advice respecting your individual needs. The Law Office Of Doug Surprenant looks forward to speaking with you about your particular needs. Please note, however, that the mere act of contacting our firm does not create an attorney-client relationship. As a result, you should never send any confidential information to our office until a Representation Agreement has been signed by both you and The Law Office Of Doug Surprenant.
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