How Bankruptcy Works
The filing a Chapter 7 bankruptcy case is generally a fast and easy process so long as you have proper legal guidance. After conducting a detailed intake with our clients, we then work diligently to complete the bankruptcy Petition and Schedules. In order to start the process, we need the following documents: drivers license, social security card, two years of federal tax returns, one year’s checking account statements, payroll statements for 3 months, a (free) credit report, and proof of credit counseling. These documents are generally free and easily available, except for the credit counseling certificates. Credit counseling certificates are obtained by completing a one to two hour long class online or over the phone. We provide all information for you, every step of the way.
What is the Bankruptcy Automatic Stay?
Once we file the Petition with the Federal Bankruptcy Court, an “automatic stay” protects you from all creditor lawsuits, including foreclosure. It will stop the harassing creditor calls, too; after you retain our office to file Chapter 7 Bankruptcy, you can tell creditors to stop calling you and to contact us instead! After the bankruptcy Petition is filed, the Court assigns a Trustee, who evaluates your Petition, and sets up a Creditor Hearing within 30 days. We prepare our clients for the Hearing and represent them at the Hearing.
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The “New” Bankruptcy Law
In 2005, amendments to the Bankruptcy law set up one main roadblock for our clients: they now must have income below the family median income limits in Massachusetts, or, complete a complicated “means test” to demonstrate that they qualify for bankruptcy. We explain all about the means test on our page The Means Test Demystified. We will perform the federal means test for all of our clients to determine eligibility. Notwithstanding the means test, the majority of our clients are able to qualify to file Chapter 7 Petition and have their debts discharged.
Hire an Experienced Bankruptcy Lawyer
Neil Burns has been representing clients in bankruptcy since 1985. His office is in downtown Boston, a few blocks from the Bankruptcy Court. He gives all clients a free consultation over the telephone or in his office at Six Beacon Street. If he thinks he can help, he will inform you of the fee. Most bankruptcies are a flat fee; you know the whole fee up front.
Generally, hiring an experienced bankruptcy lawyer will both save you money and provide a vast amount of guidance in going through a complicated system during a difficult time. An experienced bankruptcy lawyer will work to protect your home, your vehicle, your personal assets and your retirement accounts. It’s worth the free consultation. Call today: 617-227-7423