Stop Creditors Now. Recieve A Financial Fresh Start
Are you afraid to answer your phone because you can't stand talking to creditors and collection agencies? Have you been transferring debt from credit card to credit card, just paying the minimum balances and never getting ahead? Have you seen your credit card interest rates skyrocket to a level where it's impossible to get ahead? Are you being threatened with lawsuits or, worse, repossession of your car or foreclosure on your home? Have you reached the point where you feel you can never get caught up?
Imagine a life free from collections calls and from the constant worries about losing your home or car. It can happen. If you are experiencing serious debt problems in the great Boston area, the Law Office of Sanford I. Furman can help.
When you visit the Law Office of Sanford I. Furman you will be treated with respect as you are asked about your income, assets, and your debt. You will be told if you qualify for a Chapter 7 Bankruptcy filing, which results in your debt being eliminated, or whether your income is too high or your assets too large for Chapter 7 but might benefit from a Chapter 13 filing, which involves restructuring your debt. You will learn about the benefits and the potential pitfalls (fewer than you might think) that result from filing for bankruptcy. An attorney since 1985, Attorney Furman has been helping people in the Boston and Metro west areas of Massachusetts, including Wellesley, Newton, Brookline, Framingham, and Brighton, file for Chapter 7 bankruptcy. His goal is to give his clients peace of mind and a fresh start on their financial future.
Chapter 7 Bankruptcy Basics
Is your debt high enough to make Bankruptcy worthwhile? Attorney Furman will analyze your debt and help you determine if Bankruptcy is right for you.
Will your assets be preserved? Attorney Furman will advise you about whether you'll be able to keep your house, your car, your retirement, and your other assets. Attorney Furman will explain to you how much of your property you can keep and whether it will be advisable for you to claim the federal exemptions or the state exemptions.
Is your income too high? Attorney Furman can tell you if your income for your household is lower than the average for your state you pass the "means test" and are eligible to file for Chapter 7 Bankruptcy.
However, even if your income is higher than the average for your size household you might still qualify for Chapter 7 Bankruptcy, depending on how your expenses compare to your available income, and how your expenses compare to the expenses considered reasonable under the Bankruptcy Code. Attorney Furman will have to perform a more complex analysis of your income and expenses to see if you qualify. If, after performing this analysis it appears that you will qualify, you will be advised that it is worth filing, with the understanding that if the U.S. Trustee, who works for the Bankruptcy Court disagrees, you may have to convert your filing to a Chapter 13 filing and pay off some of your debt.
The Process
- The first step in the process is the interview with your lawyer. Attorney Furman will take a detailed history, going over your current income, which is the average of your last six months income, your assets, your debt, and your recent payment history to creditors.
- In many cases you will learn that you would qualify and the process will be explained in detail.
- In some cases, you will be advised that you need to wait at least three months before you can file.
- In some cases, you will be told that you just don't qualify for a Chapter 7 filing and you will be given alternatives, including a Chapter 13 restructuring of your debt – which involves coming up with a plan to pay your creditors a portion of what you owe.
- One of the first benefits of a bankruptcy filing is called the "automatic stay". Once your petition is filed all of your creditors are notified, and they are strictly forbidden by law from contacting you or taking any action against you, except in the Bankruptcy Court.
- Before filing you will have to take a class, which you can do on line or over the phone.
- After the filing there will be a meeting at the Bankruptcy Court called a "creditors' meeting", where you will appear with your lawyer and you will be asked some questions by the Bankruptcy Trustee, a lawyer appointed by the Bankruptcy
Court for this purpose, and creditors will have an opportunity to be present to ask questions. You can expect to meet with Attorney Furman before the creditors' meeting to go over our petition and prepare for questions that might be asked. - In most cases creditors do not appear and, after the examination by the Bankruptcy Trustee, the most likely result is that you will be approved for a discharge, which means your debt is effectively eliminated. In some cases the Trustee will ask for additional information.
- In most cases you will be able to keep your home, your car, your retirement accounts, and your personal property such as clothes, furniture and jewelry; although in some cases the Trustee may require that you sell some of your assets for the benefit of your creditors. Creditors will be given a period time to file objections to your petition.
- You will have to take a second class on line or over the phone before you can be discharged.
- The last two steps are that if the Trustee is satisfied that you don't have enough assets or income to pay your debt you will be issued a discharge, meaning you are free of your debt.
- The final step, after you are sent your discharge, is that your case will be dismissed.
Free Initial Consultation
If you want to know if bankruptcy can assist you, contact the Law Office of Sanford I. Furman can help guide you to financial freedom. Please contact the firm by phone or e-mail if you're wondering if a Chapter 7 bankruptcy is an option for you. Evening and weekend meetings can be arranged by appointment.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
