Best Bankruptcy Lawyers in New Bedford

About Bankruptcy Law in New Bedford, United States:

Bankruptcy law in New Bedford, United States provides a legal process for individuals and businesses to eliminate or repay their debts under the protection of the federal bankruptcy court. It offers a fresh start for those who are overwhelmed by debt and unable to pay their creditors.

Why You May Need a Lawyer:

There are several situations in which you may need a lawyer when dealing with bankruptcy. Some common reasons include understanding your rights, navigating complex legal procedures, negotiating with creditors, protecting your assets, and ensuring that your bankruptcy petition is filed correctly.

Local Laws Overview:

In New Bedford, United States, bankruptcy laws are governed by federal regulations outlined in the U.S. Bankruptcy Code. However, there are also specific local laws and court procedures that may apply to bankruptcy cases in New Bedford. It is important to consult with a local bankruptcy attorney who is familiar with these laws to ensure your bankruptcy case is handled appropriately.

Frequently Asked Questions:

1. What are the different types of bankruptcy?

There are several types of bankruptcy for individuals and businesses, including Chapter 7, Chapter 13, and Chapter 11 bankruptcy. Each type has its own eligibility requirements and processes.

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

Not necessarily. Depending on the type of bankruptcy you file, you may be able to keep certain assets, such as your home or car, through exemptions provided by law.

3. Can bankruptcy help me stop creditor harassment?

Yes, once you file for bankruptcy, an automatic stay goes into effect, which prohibits creditors from contacting you or taking any collection actions against you.

4. How long does the bankruptcy process take?

The duration of the bankruptcy process varies depending on the type of bankruptcy you file and your individual circumstances. In general, Chapter 7 bankruptcy typically takes a few months, while Chapter 13 bankruptcy can last three to five years.

5. Will bankruptcy affect my credit score?

Yes, bankruptcy will have a negative impact on your credit score. However, it is possible to rebuild your credit over time by demonstrating responsible financial behavior.

6. Can I file for bankruptcy without a lawyer?

While it is possible to file for bankruptcy without a lawyer, it is not recommended due to the complexity of bankruptcy laws and procedures. A bankruptcy attorney can help you navigate the process and protect your rights.

7. What debts can be discharged in bankruptcy?

Most unsecured debts, such as credit card debt, medical bills, and personal loans, can be discharged in bankruptcy. However, certain debts, such as student loans and child support payments, are typically not dischargeable.

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

Yes, you will be required to attend a meeting of creditors, also known as a 341 meeting, where you will be questioned by a trustee about your bankruptcy petition. In some cases, you may need to attend a court hearing.

9. Can I file for bankruptcy more than once?

Yes, but there are restrictions on how often you can file for bankruptcy. For example, you must wait a certain number of years between filing for Chapter 7 bankruptcy again.

10. How can a bankruptcy lawyer help me?

A bankruptcy lawyer can provide legal advice, help you understand your options, prepare and file your bankruptcy petition, represent you in court proceedings, negotiate with creditors, and guide you through the bankruptcy process.

Additional Resources:

For more information about bankruptcy in New Bedford, United States, you can visit the U.S. Bankruptcy Court for the District of Massachusetts website at www.mab.uscourts.gov. You may also consider contacting the Massachusetts Bar Association for referrals to local bankruptcy attorneys.

Next Steps:

If you are considering filing for bankruptcy in New Bedford, United States, it is important to consult with a qualified bankruptcy lawyer who can assess your situation and provide you with personalized legal advice. You can schedule a consultation with a local bankruptcy attorney to discuss your options and determine the best course of action for your financial situation.