Why file for Bankruptcy?
The new Bankruptcy Laws set stricter standards on the filing of bankruptcies and require more disclosure and paperwork than ever before. At Kelsey & Trask, P.C. we can help you evaluate whether Bankruptcy is the best option for you, and whether you qualify for a Chapter 7, Chapter 11 or Chapter 13 bankruptcy. We are a debt relief agency and we help people file bankruptcy relief under the Bankruptcy Code. We can assist you in preparing the necessary filings, and ensure that you are appropriately prepared.
Why should I file for bankruptcy?
Bankruptcy in the United States is permitted by the United States Constitution (Article 1, Section 8, Clause 4) which authorizes Congress to enact "uniform Laws on the subject of Bankruptcies throughout the United States." As such, Constitutional recognition of bankruptcy law is amongst the oldest in the United States, predating even the bill of rights. Even 223 years ago, the Founding Fathers and the draftsmen of this Country's earliest laws recognized that sometimes people got in over their heads as a result of insufficient planning or factors beyond their control. They understood that it was in the best interests of both debtors and the economy as a whole to provide people with a fresh start in the event someone found themselves with debts they were unable to pay.Despite the fact that the Constitution specifically permits Congress to enact bankruptcy legislation, there is still a significant cost, both economic and emotional, to seeking the protection of the Bankruptcy Court. So, if you or someone you know is considering bankruptcy, please review the pages listed below, which will help you understand what the advantages and disadvantages of bankruptcy are, and whether or not you qualify. If you would like more information please do not hesitate to call us at 508.655.5980 or e-mail us.
Do I Qualify? - The Means Test
What is the Means Test?
How is the Means Test calculated?
What is the Median Family Income for Massachusetts?
What are the debt limits for bankruptcy?
Can I file for Chapter 7 bankrupty if I filed before?
Can I file for Chapter 13 bankrupty if I filed before?
What will I Keep? - Exemptions
What is an Exemption?
Do I have a choice of Exemptions?
Can I Protect my House?
How can filing bankruptcy help protect my house?
Will filing for bankruptcy ensure that I can keep my house?
What do I do if I have negative equity in my house?
What do I do if I can no longer afford my house?
What is a Short Sale? Is it right for me?
What if I can't afford or sell my House?
What will Bankruptcy cost?
How much do you charge to file bankruptcy?
How much does it cost to file for bankruptcy?
What are the costs of a bankruptcy on my credit?
How long will a bankruptcy affect my credit?
How will it affect my credit? How will a bankrutpcy affect my credit?
What are the costs of a bankruptcy on my credit?
How long will a bankruptcy affect my credit?
Can I settle my Debt?
Do I have to disclose a trust in bankruptcy?
What do "Debt Relief Agencies" really do?
How are Trusts treated?
Do I have to disclose a trust in bankruptcy?
I am the Trustee of a Trust. Can the Bankruptcy Trustee take the Trust Assets?
I am the Beneficiary of a Trust. Can the Bankruptcy Trustee take the Trust Assets?
My House is Held in a Trust. Is it Exempt? Can I File a Homestead Declaration to Protect my Home?
How Can I Avoid Problems with Trusts in Bankruptcy?
Click here to learn more about whether or not you qualify for bankruptcy.
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