Boston-Area Bankruptcy Attorneys
Serving Communities Such As Brockton, Canton and Easton
Chapter 7 bankruptcy allows you to eliminate your debt by obtaining a court order known as a discharge. Eligibility is determined by use of a formula known as a "means test." Our Boston and Braintree personal bankruptcy lawyers at Nashawaty & Rand can help you to qualify for a Chapter 7 discharge. We will walk you through the process of obtaining complete debt relief and a financial fresh start.
Our Braintree and Boston Chapter 7 bankruptcy attorneys can determine your eligibility for Chapter 7. We will talk to you about the benefits as well as the disadvantages of filing Chapter 7 as it relates to your specific situation. Our bankruptcy attorneys have helped thousands of people like you eliminate their debt and receive peace of mind.
How Does Chapter 7 Bankruptcy Work?
To qualify for a Chapter 7 bankruptcy discharge, you must satisfy one of two tests. First, if your gross income does not exceed the median gross income for a family of your size in Massachusetts, you qualify. Even if you are above median income, you may still qualify under the means test. Our Boston and Braintree bankruptcy attorneys are experienced in determining your qualification for this relief. If you do not qualify for Chapter 7, Chapter 13 becomes the next option.
Chapter 7 is also called "straight bankruptcy" or "liquidation." However, this does not mean that your assets are liquidated. Rather, most Chapter 7 filings are considered "no asset" cases. Our Massachusetts bankruptcy attorneys are skilled at maximizing your available exemptions, helping you keep your home, automobiles, furnishings, retirement accounts, electronics and even savings.
In Chapter 7 bankruptcy, any unprotected or "nonexempt" assets are sold, and the proceeds go to pay off your creditors. At the end of the process, your debt is discharged.
We offer free initial consultations in our Braintree bankruptcy law office or Boston bankruptcy law office. To schedule your confidential meeting, please call 781-848-8545. You may also contact us online. We can arrange evening and weekend appointments to accommodate your schedule.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
