Understanding Bankruptcy Options
The framers of our Constitution anticipated that American citizens might need relief and protection from creditors. Bankruptcy relief is authorized under federal law. Bankruptcy courts are federal courts.
In the state of Massachusetts, there are three bankruptcy courts, in Worcester, Springfield and Boston. At these courts, people can exercise their bankruptcy rights. There are five judges in three courts, with two clerks that handle bankruptcy filings throughout Massachusetts. We are available to help you navigate the legal obstacles to find debt relief.
Morrison Rousseau LLP has its main office in Worcester, with branch offices in Springfield, Sturbridge, Framingham, South Easton and East Hartford, Connecticut.
Get a fresh start today. Contact us online or call us at 866.496.0337 or 508.471.3012 for a free initial consultation.
What Is a Chapter 7 Bankruptcy Trustee?
A key participant in your bankruptcy will be a court-appointed bankruptcy trustee. The bankruptcy court assigns a Chapter 7 bankruptcy trustee to your bankruptcy case. You meet with the trustee at the time of your bankruptcy hearing, where you will be represented by your attorney. The trustee reviews all your paperwork, liquidates non-exempt property, distributes it according to legal priority and determines whether there were any fraudulent transfers that can be recovered.
What Is a Chapter 13 Trustee?
You will also have a court-appointed bankruptcy trustee to review and administer any debt repayment plan in a Chapter 13 bankruptcy. You pay one lump sum to the trustee once a month. The trustee distributes that payment to your creditors each month for the duration of your payment plan, which lasts from three to five years. The secured creditors, such as mortgage banks get paid first. Priority creditors get paid next. This includes student loans, child support and taxes. Unsecured creditors such as credit card companies are paid last.
Our law office can represent you at all trustee meetings and throughout the bankruptcy process.
Do Bankruptcy Laws Differ From State to State?
While the federal Bankruptcy Code governs bankruptcies across the country, each state has slightly different exemptions that apply in bankruptcy filings. The Massachusetts Homestead Act allows Chapter 7 bankruptcy filers to protect primary residences worth up to $500,000 with certain exceptions that an experienced lawyer can explain.
Will Other People Like my Employer Learn I Have Filed for Bankruptcy?
We understand the people are concerned about who will discover their financial problems. Our law office wants you to know that we have represented clients who live on the same street, with neither one knowing that the other filed for bankruptcy. While the matter of your bankruptcy is public record, no one so far as we know has ever checked to see if one of our clients has filed bankruptcy.
Get Straight Answers to Your Bankruptcy Questions.
Reach us online or call 866.496.0337 or 508.471.3012 to arrange for a free initial consultation today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
