Massachusetts bankruptcy lawyer helping with personal & business debt.

If you find yourself in the unfortunate position of owing your creditors more money than you can pay, and feel you need to declare bankruptcy and get a fresh start on your finances, our office can help you. Our handles Chapter 7 and 13, bankruptcy filings.

Prior to making that drastic decision, it is a good idea to sit down with one of our Massachusetts bankruptcy lawyers to discuss your financial situation. Our Bankruptcy Attorneys can explain to you the difference between the various forms of bankruptcy such as filing for chapter 7 bankruptcy or re-organizing under chapter 13 in Massachusetts pursuant to the United States Bankruptcy Code .

We can help you avoid:

• Tax problems
• Foreclosures
• Auto and truck repossessions
• Creditor harassment
• Lawsuits
• IRS wage garnishment
• Tax levies and seizure

Chapter 13 Representation
Chapter 13 is a wage-earner repayment plan. It is a federal law designed to help individuals, married people and single-owner businesses repay a portion of their debts with dignity and peace of mind.

Chapter 7 Representation
Chapter 7 is a federal bankruptcy law enacted by Congress to give individuals, married couples or businesses in financial difficulty a fresh start. Chapter 7 is a straight liquidation bankruptcy that allows individual debtors to discharge (and not pay) unsecured debts. Unsecured debts include many but not all purchases made on credit cards. Filing under Chapter 7 may allow you to keep many assets and then start over.

We may be able to protect your home, vehicle , wages, retirement account and other valuable assets. The Law Office of Goldstein and Clegg, LLC practices under the Bankruptcy Reform Act of 2005.

Homestead - protect your home from bankruptcy proceedings:

THERE ARE 2 TYPES:

1. Regular Homestead (M.G.L. c. 188 s. 1) Available to everyone but protects only up to $500,000.00 equity per family. Only 1 person can file. If the property is jointly held by husband and wife.
2. Elderly and Disabled Person's Homestead (M.G.L. c. 188 s. 1A) For persons 62 years of age or older and statutorily disabled persons. Protects up to $500,000.00 equity per person.

REQUIREMENTS:

1. Must be your principal residence.
2. Must file Homestead Declaration with Registry of Deeds if a home, with City/Town Clerk if mobile home.

WHAT IT PROTECTS:
Protects Homestead against attachment, levy on execution, and sale for debts accrued after filing of Homestead. May offer valuable protection should you file bankruptcy.

Business Bankruptcy & Corporate Relief:

A business can file for two types of bankruptcy:

• Reorganization
• liquidation