Debt Relief Through Chapter 7 Bankruptcy
If you have a large amount of debt and do not think you will ever be able to pay it back, Chapter 7 bankruptcy might be an appropriate solution. At Moniz & Mendes, P.C., we help clients in the North Shore and surrounding communities in Massachusetts find the debt relief they need through Chapter 7 bankruptcy.
What Is Chapter 7 Bankruptcy?
Chapter 7 is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. The purpose of filing a chapter 7 case is to obtain a discharge of your existing debts. It is ideal for people who have little or no equity in their home or do not wish to keep their home.
Will I Lose Everything When I File Bankruptcy?
Typically, most assets up to a certain value are protected from being liquidated or sold in a Chapter 7 bankruptcy proceeding. For example, retirement accounts generally cannot be liquidated to pay debts when a person is in bankruptcy. If you are falling behind on your payments, it is important to contact a lawyer to learn about the debt relief options that may be available.
When clients contact us, we work closely with them from the initial consultation until the discharge of debt has been granted. We offer our clients the counsel they need to make informed decisions throughout the process.
Contacting us as soon as you realize you have a problem can help protect your assets from being unnecessarily drained. Before draining your pension or 401k in an effort to pay off debts the bankruptcy system was designed to preserve, contact us online or call 781-350-4963 to schedule your free initial consultation with an experienced bankruptcy attorney.
