Framingham Area Bankruptcy Lawyer
If you've been juggling a large amount of credit card debt or personal debt for a while, it can be hard to admit that it's just gotten to be too much to handle. You want to get out from under it. There are two ways to restructure debt. One is through Chapter 13 bankruptcy the other is through negotiations with creditors.
Framingham area bankruptcy lawyer Raymond Mastroianni can help you with both options. Call (508) 473-8801 or email our Milford law office to schedule a free initial consultation. Mr. Mastroianni will review your financial situation, the extent of your debt, the number and type of creditors, and the extent to which you are behind on payment. All of these factors will influence the choice of the most effective action. We have used this option for many people in Worcester, Franklin and other Metrowest towns.
Restructuring Debt with Chapter 13 Bankruptcy
Chapter 13 is a debt-restructuring plan. When you file for bankruptcy, you will be asked to list all outstanding debt in the documents given to the bankruptcy court trustee. A repayment plan will be developed that restructures your debt in the following ways:
Fines and late fees will be removed from your record
Interest rates will be reduced
Some of the debt you owe will be discharged, you will not need to repay it
A deadline will be set for repayment of the remaining amount, generally three to five years.
Debt Restructuring with Creditor Negotiation
If you tried to negotiate a debt-restructuring plan with your creditors in the past without success, you're not alone. Few consumers have the legal knowledge or the clout to be able to get a creditor or a collection agency to listen. Having a lawyer negotiating on your behalf can sometimes make the difference.
If you are concerned about the impact that a bankruptcy will have on your credit record, we can try to negotiate a repayment plan for you before you file for bankruptcy. This is more likely to be effective if you are already several months behind on your payments.
Talk with a MetrowestBankruptcy Attorney
Take that first step to getting back on solid financial ground. Contact our Milford law office or call (508) 473-8801.
- Flexible Appointments Available
- Home Visits
- Free Initial Consultation
