Massachusetts bankruptcy lawyers focus on either consumer or commercial bankruptcy. If you want to eliminate or repay your debts, then a bankruptcy lawyer in MA can represent you in Chapter 7 or 11 proceedings. Chapter 7 allows you to sell your nonexempt assets and use the proceeds to repay your creditors. If your business is struggling, you can file for Chapter 11 to reorganize your debt load and stay in business.
However, the process of filing for Chapter 7 or Chapter 11 bankruptcy can be daunting. This is where Massachusetts bankruptcy attorneys, such as the ones at Riley & Dever can help. Your bankruptcy lawyer in MA can provide you with legal advice and handle the legal proceeding from start to finish. Learn more about bankruptcy here.
How an MA Bankruptcy Lawyer Can Assist You with Bankruptcy Legal Issues in Massachusetts
The primary focus of a bankruptcy lawyer is to assist his/her clients in court hearings to eliminate or reduce debts. However, aside from providing legal advice and handling the legal proceeding, your bankruptcy lawyer in MA can help you in other helpful ways. A bankruptcy lawyer in MA can do these things for you:
- Massachusetts Bankruptcy Lawyers Will Evaluate Your Situation and Help You File the Right Type of Bankruptcy
After assessing your situation, your bankruptcy lawyer in MA will recommend what type of bankruptcy you should file. Your remedies can be to remove, lower, or reorganize your debts depending on what type of bankruptcy is filed.
- Massachusetts Bankruptcy Attorneys Can Handle the Necessary Paperwork
Your bankruptcy lawyer in MA will make sure that you have all the bankruptcy requirements, bankruptcy forms, and other necessary documents. Some bankruptcy cases are dismissed simply because you failed to submit some important documents.
- MA Bankruptcy Lawyers Can Help in Debt Negotiation
If you have more than one creditor, your bankruptcy lawyer in MA can help negotiate a payment plan for paying your debts. Your creditors may be divided into classes where each of them will be paid in full depending on the established order of priority. However, if you have enough money to pay your creditors in full, each of them will receive an even percentage.
- Massachusetts Bankruptcy Attorneys Will Help Prevent Foreclosure or Repossession of Your Assets
Your bankruptcy lawyer in MA will do his best to enable you to keep your home, car, or any other property that you have. However, in Chapter 7 cases, you may have to sell some of your property especially if you don’t have other resources to pay your debt. Your bankruptcy lawyer in MA will make sure that you will not lose all your assets.
- Massachusetts Bankruptcy Lawyers Will Assist You at the Bankruptcy Hearing
The 341 meeting of creditors is a mandatory hearing that you must attend after filing for bankruptcy. You may want to hire a good MA bankruptcy lawyer to assist you as you may have to attend more hearings depending on your case. Your bankruptcy lawyer in MA will be able to advise you on what to say or do during the hearings.
What to Look for in a Lawyer to Help with Debt Relief and Bankruptcy Court
Given all the things that a good bankruptcy lawyer in MA can do for you, it is also important to know what you should look for in an MA bankruptcy lawyer. There are plenty of Massachusetts bankruptcy lawyers, so you may find it hard to choose which bankruptcy lawyer in MA is best for you. Here are some qualities of a good bankruptcy lawyer in MA that you should consider:
- A Bankruptcy Lawyer in MA Should Have Considerable Experience in Bankruptcy Litigation
Most lawyers focus their practice on a certain area. You have to make sure that you get a bankruptcy lawyer in MA who has valuable experience in bankruptcy cases. This way, you can be sure that he/she knows what he/she is doing and that you can trust whatever advice he/she gives.
- A MA Bankruptcy Lawyer Should Know How to Listen
A good bankruptcy lawyer in MA should be able to understand your financial situation which is relative to your case, and this can only happen if he/she knows how to listen. Your MA bankruptcy lawyer should listen to your story so that he
would also know which type of bankruptcy is more appropriate to file.
- A Massachusetts Bankruptcy Attorney Should Have In-Depth Knowledge of the Bankruptcy Code
Bankruptcy laws can have revisions or changes. Massachusetts bankruptcy attorneys should be knowledgeable about the bankruptcy law and properly trained on the fair application of the bankruptcy code. A good bankruptcy lawyer in MA must have attended annual seminars to stay updated on pertinent revisions to such law.
- A Massachusetts Bankruptcy Lawyer Should Establish a Good Relationship With His/Her Clients
A good bankruptcy lawyer in MA should be someone who knows how to gain the trust of his/her client in order to build a long-standing professional relationship with them. This way, the clients would be more comfortable in sharing their situations.
The bankruptcy lawyer in MA should also provide relative updates to the client about the progress of a case. This way, the clients would know that the lawyer is really taking the proper legal steps to help them with their present circumstances.
Your bankruptcy lawyer in MA should also be compassionate, respectful, and caring. Though this is not a requirement for Massachusetts bankruptcy attorneys, you would surely want one who understands you and makes you feel at ease. With this, you may want to consider a bankruptcy lawyer in MA at Riley & Dever. We can help protect you and your assets in bankruptcy cases.
Bankruptcy Attorney Massachusetts : Bankruptcy in the United States
Chapter 11 in the United States is an issue set under government purview by the United States Constitution, which engages Congress to sanction “uniform Laws regarding the matter of Bankruptcies all through the United States”. Congress has ordered resolutions administering liquidation, essentially as the Bankruptcy Code, situated at Title 11 of the United States Code.
An account holder goes into chapter 11 to acquire alleviation from obligation, and this is ordinarily practiced either through a release of the obligation or through a rebuilding of the obligation. At the point when an account holder documents a willful appeal, their insolvency case initiates.
Bankruptcy Debts & Exemptions
While chapter 11 cases are constantly documented in the United States Bankruptcy Court, liquidation cases, especially regarding the legitimacy of cases and exceptions, are regularly needy upon State law. A Bankruptcy Exemption characterizes the property a borrower may hold and safeguard through liquidation. Certain genuine and individual property can be excluded on “Calendar C” of an account holder’s liquidation structures, and successfully be taken outside the indebted person’s chapter 11 home. Insolvency exceptions are accessible just to people seeking financial protection.
There are two elective frameworks that can be utilized to “absolved” property from an insolvency home, government exceptions, and state exclusions. For instance, Maryland and Virginia, which are abutting states, have diverse individual exclusion sums that can’t be seized for installment of obligations. This sum is the first $6,000 in property or money in Maryland, however regularly just the first $5,000 in Virginia. State law in this manner assumes a significant job in numerous chapter 11 cases, with the end goal that there might be noteworthy contrasts in the result of an insolvency case contingent on the state in which it is recorded.
After an insolvency request is documented, the court plans a conference assembled a 341 conference or meeting of loan bosses, at which the chapter 11 trustee and banks survey the candidate’s appeal and supporting timetables, question the solicitor, and can challenge exceptions they accept are ill-advised.
Massachusetts Bankruptcy : Chapters of Bankruptcy
There are six types of bankruptcy that can be found under Title 11 of the United States Bankruptcy Code:
Chapter 7 Bankruptcy
Basic liquidation for individuals and businesses; also known as straight bankruptcy; it is the simplest and quickest form of bankruptcy available
Chapter 9 Bankruptcy
Municipal bankruptcy; a federal mechanism for the resolution of municipal debts
Chapter 11 Bankruptcy
Rehabilitation or reorganization, used primarily by business debtors, but sometimes by individuals with substantial debts and assets; known as corporate bankruptcy, it is a form of corporate financial reorganization which typically allows companies to continue to function while they follow debt repayment plans
Chapter 12 Bankruptcy
Rehabilitation for family farmers and fishermen;
Chapter 13 Bankruptcy
Rehabilitation with a payment plan for individuals with a regular source of income; enables individuals with regular income to develop a plan to repay all or part of their debts; also known as Wage Earner Bankruptcy
Chapter 15 Bankruptcy
Ancillary and other international cases; provides a mechanism for dealing with bankruptcy debtors and helps foreign debtors to clear debts.
Who is Riley & Dever?
Riley & Dever is a full service law firm that provides quality and personalized legal services to individuals, families, and businesses. Most of the lawyers at Riley & Dever earned their law degrees at Suffolk University Law School, one of the best law schools in Boston, Massachusetts. Our lawyers focus their practice in general and commercial litigation, estate planning, business transactions, corporate law, family law, and bankruptcy cases.
The law firm of Riley & Dever was initially founded and located in the heart of downtown Boston. As of today, our offices are found in Lynnfield, Massachusetts where we continue to serve the interests of our clients.
Get to Know the Massachusetts Bankruptcy Lawyers of Riley & Dever
The Massachusetts bankruptcy attorneys at Riley & Dever include a former Chairman of the Massachusetts Alcoholic Beverages Control Commission, a former Massachusetts Assistant Attorney General – Chief of the Criminal Bureau, and other attorneys formerly associated with Boston’s most recognized law firms.
How Can the Bankruptcy Lawyers of Riley & Dever Help You?
Riley & Dever’s bankruptcy lawyers are currently representing small businesses and consumers in bankruptcy cases. With our extensive years of experience, you can be sure that we have cultivated a vast knowledge of bankruptcy laws and are fully updated with any bankruptcy code revisions.
Riley & Dever’s bankruptcy lawyers offer free initial consultations. We will listen to your story and assess what type of bankruptcy you need to file. Our lawyers can help you with your tax problems, mortgage foreclosures, medical billings, actions involving credit card debt collection, and other legal matters. If you are filing for Chapter 11 bankruptcy, our lawyers can help you reorganize your corporate affairs to ensure that you remain in business.
Get Your Lawyer at the Riley & Dever Law Offices to Help with Your Debts
If you are planning to file for bankruptcy, you may want to consider getting help from a Massachusetts bankruptcy attorney at Riley & Dever. Our highly qualified MA bankruptcy lawyers have been representing individuals and businesses in their bankruptcy cases. We take pride in our ability to provide personalized and professional services to serve your best interests. Contact us to arrange a consultation. Click here to contact us about obtaining a MA bankruptcy lawyer.