Consumer Bankruptcy Lawyers in Arlington, Massachusetts

Find the right Consumer Bankruptcy attorney in Arlington, MA

Bankruptcy is a legal procedure allowing a person or business to have their debts discharged, in part or in whole. It is usually treated as a last resort, because, while it can prevent financial catastrophe, it has some major long-term consequences. This warrants careful consideration of the costs and benefits. Being a product of federal law, bankruptcy will go through federal courts. Accordingly, the procedure for filing for bankruptcy in Massachusetts is basically the same as the procedure anywhere else in the United States. However, individual courts in Arlington, Massachusetts will have individual rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Arlington, Massachusetts

There are 2 main types of consumer bankruptcies in Arlington, Massachusetts: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 involves liquidation of some of a debtor's assets. It requires that a certain percentage of the debtor's property to be sold to pay off as much debt as possible. The majority of property that most people own, however, is exempt. This usually includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is discharged. But some types of debt cannot be discharged through Chapter 7 bankruptcy. These include child support payments, student loans, and criminal fines, among others. If most of your Arlington, Massachusetts debts are not dischargeable, you might want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Arlington, Massachusetts

In Arlington, Massachusetts, chapter 13 is very different from Chapter 7, and may or may not be the best option for you, depending on your situation. Chapter 13 Bankruptcy involves a court setting up a modified payment plan, which allows the debtor to pay off most or all of his debts over a longer period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

Which Type of Consumer Bankruptcy Should I File in Arlington, Massachusetts

This depends entirely on the facts of your particular case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

In any case, it would be a good idea to consult a local bankruptcy attorney in Arlington, Massachusetts. Your attorney can make an educated judgment as to what your best option is, and advise you accordingly (of course, the choice to file for bankruptcy is ultimately yours).

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Life in Arlington

Arlington is located in Middlesex County, Massachusetts. It is very near Boston--approximately 6 miles northwest of it. Arlington has a population of around 42,900 people.

For nature lovers, Arlington is the place to be! It is filled with beautiful parks. Popular sites include Menotomy Rocks Park, Robbins Farm Park, Robbins Library, and Spy Pond Park. Other popular attractions include the Arlington Center Historic District, the Cyrus E. Dallin Museum, Henry Swan House, the Jason Russell House, Water Tower at Park Circle and the Uncle Sam Memorial Statue.

Past famous residents of Arlington include Dane Cook, Olympia Dukakis, Timothy Hutton, Alan "Blind Owl" Wilson, and Tom Yewcic.

The legal industry also has a presence in Arlington because many attorneys call Arlington home. These attorneys practice in many areas of law and focus on providing excellent and personalized legal services.

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