Hyde Park Bankruptcy Attorney

Getting a Fresh Start Through Bankruptcy

A fresh start.  Sounds good, doesn’t it? Getting a fresh start on your finances is the main goal of bankruptcy. Whether through a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, the bankruptcy filer (referred to as the debtor), is seeking relief from debts that would in most cases be impossible to do outside of the bankruptcy setting.

The Immediate Benefits of a Bankruptcy Filing

Many of the benefits of a bankruptcy filing are felt right away. Once the bankruptcy is filed, an automatic stay is imposed against all creditors, preventing them from continuing to attempt to collect on the debt. It also means that credit card companies and collection agencies can no longer harass you for payment, ending those constant phone calls. A bankruptcy filing also halts any foreclosure proceedings against your house or repossession actions of your car.  If you are a defendant in a court lawsuit concerning a debt you owe, the bankruptcy filing will put a stop to that lawsuit.

The Long Term Benefits of a Bankruptcy Filing

The most common long term goal of filing for bankruptcy is the discharge of debts, meaning that you no longer owe and are not legally responsible to pay the debt. If you need to file bankruptcy in order to get out from under debts that you just can no longer afford to pay, you can obtain a discharge (meaning you will no longer be responsible for them) of those debts approximately ninety days after the bankruptcy filing. In the vast majority of cases, you will not have to give up any of your property due to the bankruptcy filing as there are both federal and state laws that exempt your personal belongings and assets, essentially protecting them from being lost due to the bankruptcy filing.

If you are seeking to save your house from foreclosure, a Chapter 13 bankruptcy filing provides you the opportunity to get caught up on the mortgage arrears through a bankruptcy plan with monthly payments over a three to five year period.  In situations where you simply cannot afford to pay the amount of money necessary to stop the foreclosure proceedings, a Chapter 13 bankruptcy plan allows you to spread that amount over several monthly payments. And the good news is that you do not need the permission or acceptance of the mortgage company- so long as the Chapter 13 bankruptcy plan is properly drafted, it will be confirmed by the United States Bankruptcy Judge.

Let an Experienced Bankruptcy Attorney Help You Get a Fresh Start

Attorney Richard C. Hyman has helped hundreds of debtors- individuals and spouses- get relief from their debts. With over thirty years of bankruptcy experience, he understands the bankruptcy rules and regulations and the various issues which arise in a bankruptcy case.  Perhaps just as importantly, attorney Richard Hyman understands how out of control finances and the need to file for bankruptcy affects the lives of his clients. To understand more about bankruptcy and how it can help you, call bankruptcy attorney Richard C. Hyman at 617-361-5310 for a free consultation at his Hyde Park office.

The Types of Debts Discharged in Bankruptcy

An experienced bankruptcy attorney can analyze the particular debts that you have in order to determine whether it will be discharged in bankruptcy. Generally, the types of debts that can be discharged include the following:

-Credit cards;

-Medical bills;

-Past-due Utilities;

-Personal loans

-Repossession and foreclosure deficiencies;

-Taxes, depending on the type and year incurred;

-Professional services, such as accountant and attorney fees.

You will be able to discharge these types of debts even if there has already been a court judgment ordering you to pay the debt. You can also discharge debts of your dependent children (such as medical bills) for which you are liable and discharge your liability for debts on which you may be a co-debtor with another person.

For more information or to schedule a free initial consultation with an experienced bankruptcy lawyer, contact Richard C. Hyman today at 617-361-5301.

Areas We Serve:  The Law Office of Richard C. Hyman serves clients throughout Massachusetts, including Hyde Park, Boston, Canton, Dedham, Dorchester Jamaica Plain, Mattapan, Milton, Norwood, Roslindale, Roxbury, Walpole, West Roxbury, Norfolk County, Middlesex County, Plymouth County, Suffolk County

When representing consumer debtors in connection with bankruptcy, the Law Office of Richard C. Hyman is a debt relief agency helping people file for bankruptcy under the Bankruptcy Code, 11 USC § 101(12A).