Consumer Bankruptcy Lawyers in Brockton, Massachusetts

Find the right Consumer Bankruptcy attorney in Brockton, MA

Bankruptcy is a legal procedure allowing a person or business to have their debts absolved, in part or in whole. It is normally treated as a last resort, because, while it can prevent financial catastrophe, it has some huge 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 Brockton, Massachusetts will have particular rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Brockton, Massachusetts

There are 2 common types of consumer bankruptcies in Brockton, 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 normally includes homes, vehicles, retirement accounts, and others. These are not available to creditors.

Once the non-exempt property is sold, the rest of the dischargeable debt is eliminated. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Brockton, Massachusetts is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Brockton, Massachusetts

Chapter 13 Bankruptcy in Brockton, Massachusetts is very different from Chapter 7. Whether or not it is a better option is highly dependent on the facts of each particular case. Chapter 13 bankruptcy does not excuse debt, it restructures it. This involves a court coming up with an altered repayment plan designed to be manageable for the debtor. This new plan sets aside the terms of the original contracts that created the debt in the first place. This creates a new payment structure, normally involving a single monthly payment, that the debtor should find manageable.

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

The answer to this question depends heavily on your particular situation. If you have enough steady income to manage a payment plan, and a lot of non-exempt property that you are unwilling to part with, Chapter 13 might be a good option. If you don't have much steady income, and most of your property is exempt, Chapter 7 might be better.

In any case, it would be a good idea to consult a local bankruptcy attorney in Brockton, 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 Brockton

Brockton is located in Plymouth County, Massachusetts with a population of around 93,810 people. Brockton is the seventh largest city in Massachusetts. It is nicknamed the "City of Champions" due to the success of resident boxers Rocky Marciano and Marvin Hagler. Brockton High School's sports programs are also very successful, and also contribute to the city's nicknames.

What is interesting is that in 2005, 2008, and 2010, Brockton was named as one of the 100 Best Communities for Young People. This award is given by America's Promise Alliance. Some reasons for this award is Brockton's dedication to education, mentoring, and volunteerism.

There are some great attractions to check out in Brockton. Such places include the Audubon Conservation Area, Brockton Fire Museum, Campanelli Stadium, D.W. Field Park, Franklin Block, Petronelli Way, Sacco Vanzetti Museum, and the SOuth Street Historic District.

Brockton is also filled with attorneys who are devoted to their practice, and who can adequately fulfill the legal needs of Brockton residents.

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