Metrowest, MA, Chapter 13 Bankruptcy Attorney
You have a job. You pay your bills. But every month it seems you get further and further behind. A missed payment here and the interest rate on your credit card jumped 7 points. A late payment there and you were fined $25. Now you are late with your mortgage and are worried that the bank will begin foreclosure proceedings. The stress of your financial situation is keeping you up at night. We help people with bankruptcy in Framingham, Worcester and throughout Massachusetts.
But today can be different.
Filing for Chapter 13 bankruptcy will bring immediate relief.
Bill collectors are required to stop calling you and mailing you. No more harassment!
Credit card companies and other creditors cannot continue to add additional late fees and fines to your unpaid bills.
Wage garnishment and seizure of your assets will stop.
It will temporarily stop foreclosure proceedings, giving you time to seek a mortgage modification or to sell your home and retain your equity.
Now you have time to breathe.
If you're ready for things to change, call Metrowest, MA, Chapter 13 bankruptcy attorney Raymond Mastroianni. Call (508) 473-8801 to schedule a free initial consultation.
A Chapter 13 Debt Repayment Plan
While Chapter 7 bankruptcy wipes out debt for those who do not have the income to make payments, Chapter 13 helps those who have a steady income get a reasonable repayment plan.
When you file for Chapter 13, you will work with a bankruptcy lawyer and a bankruptcy court trustee to document all debt and create a repayment plan. Some debts may be discharged. Fines and fees will be cancelled. Interest rates will be lowered so that your ultimate repayment plan will be significantly lower than what you owe right now – sometimes pennies on the dollar. By following the repayment plan, your debt will be paid off and you will begin to rebuild your credit rating.
One Caution: It's important that you include ALL of your debts in your Chapter 13 bankruptcy filing. Any debts that are not included are still owed in full. And any debts that you incur after you file are also not covered by the plan.
Do You Qualify for Chapter 13?
It is easier to qualify for Chapter 13 than it is to qualify for Chapter 7. After we review your financial situation, we can advise you if you will qualify. Some people who qualify for Chapter 7 choose to file for Chapter 13 instead because they want to keep some assets that they would have had to sell otherwise.
How Chapter 13 BankruptcyWill Affect Your Credit Record
If you are filing for bankruptcy, chances are your credit rating is already in bad shape. The good news is that by following the repayment plan set out for you by the bankruptcy trustee, you will automatically be rebuilding your credit. Every month you make your payments on time, you are climbing the ladder to financial health.
Take Action Today. Talk with a Chapter 13 Bankruptcy Attorney
Take the first step in regaining control of your life and your finances. Contact our Milford law office or call (508) 473-8801.- Flexible Appointments Available
- Home Visits
- Free Initial Consultation
