Best Bankruptcy Lawyers in Boston

About Bankruptcy Law in Boston, United States

Bankruptcy is a legal process that allows individuals or businesses to seek relief from their debts when they are unable to pay them. In Boston, United States, bankruptcy laws are governed by federal law but may also be influenced by state and local laws.

Why You May Need a Lawyer

Individuals facing foreclosure, overwhelming debt, or creditor harassment may benefit from hiring a bankruptcy lawyer. A lawyer can help navigate the complex legal processes, protect your rights, and ensure the best possible outcome for your financial situation.

Local Laws Overview

In Boston, United States, individuals can file for bankruptcy under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 allows for the discharge of certain debts, while Chapter 13 involves a repayment plan over a period of time. It's important to be aware of local exemptions, court procedures, and filing requirements specific to Boston.

Frequently Asked Questions

1. What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 involves the liquidation of assets to pay off debts, while Chapter 13 involves a repayment plan to pay back debts over time.

2. Will bankruptcy stop creditor harassment?

Yes, filing for bankruptcy will put an automatic stay on creditor actions, including harassment and collection efforts.

3. How long does bankruptcy stay on my credit report?

Bankruptcy can remain on your credit report for up to 10 years, depending on the type of bankruptcy filed.

4. Will I lose all my assets if I file for bankruptcy?

Not necessarily. Certain assets may be exempt from liquidation depending on state and federal bankruptcy laws.

5. Can I file for bankruptcy without a lawyer?

While it is possible to file for bankruptcy without a lawyer, it is highly recommended to seek legal counsel to ensure your rights are protected and to navigate the complex legal processes.

6. How much does it cost to file for bankruptcy?

The filing fee for bankruptcy varies depending on the chapter filed and court fees. Additionally, lawyer fees should be considered if hiring legal representation.

7. Will bankruptcy stop a foreclosure on my home?

Filing for bankruptcy can temporarily halt foreclosure proceedings and give you time to work out a repayment plan or other solutions with your lender.

8. Can student loans be discharged in bankruptcy?

Student loans are generally not dischargeable in bankruptcy unless you can prove undue hardship.

9. Will I have to go to court if I file for bankruptcy?

You may be required to attend a meeting of creditors (341 meeting) conducted by the bankruptcy trustee, but court appearances are typically not necessary for most bankruptcy cases.

10. How long does the bankruptcy process take?

The timeline for bankruptcy can vary depending on the chapter filed, the complexity of the case, and court processing times. Chapter 7 cases typically take around 3-6 months, while Chapter 13 cases can last 3-5 years.

Additional Resources

For additional information and resources on bankruptcy in Boston, United States, consider reaching out to the U.S. Bankruptcy Court for the District of Massachusetts, local bankruptcy attorneys, or organizations such as the American Bankruptcy Institute.

Next Steps

If you are considering filing for bankruptcy or need legal assistance, it is advisable to consult with a qualified bankruptcy lawyer in Boston. They can assess your financial situation, explain your options, and guide you through the bankruptcy process to help you achieve a fresh start financially.