Consumer Bankruptcy Lawyers in Westfield, Massachusetts

Find the right Consumer Bankruptcy attorney in Westfield, MA

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

Chapter 7 Bankruptcy in Westfield, Massachusetts

There are 2 typical forms of consumer bankruptcies in Westfield, Massachusetts: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 states that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many forms of property are exempt, and do not need to be liquidated, such as cars, homes, insurance policies, and retirement accounts.

Once all non-exempt assets are sold, and the money from the sales turned over to the creditors, most remaining debt is excused. But some forms 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 Westfield, Massachusetts debts are not dischargeable, you may want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Westfield, Massachusetts

In Westfield, Massachusetts, chapter 13 is extremely different from Chapter 7, and may or may not be the best option for you, depending on your situation. Chapter 13 bankruptcy does not discharge debt. Instead, it restructures it. This involves the bankruptcy court coming up with a new payment plan that supersedes the terms of the arrangements that gave rise to the debt in the first place. This results in an adjusted payment plan that the debtor should find manageable, if he or she can make a few sacrifices.

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

Chapter 13 is typically a good option for people who have a stable income, and a large amount of non-exempt property that they can't part with. On the other hand, if most of the debtor's property is exempt, and he or she does not have a stable income, Chapter 7 might be more beneficial.

In any case, you should talk with a local Westfield, Massachusetts bankruptcy lawyer. Your lawyer can advise you of your options and inform you of their likely result. This will make it much easier for your to make an informed choice.

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Life in Westfield

Westfield is situated in Hampden County, Massachusetts. It is a very historic settlement, being incorporated as a town in 1669 and 1920 as a city. It currently has a population of over 42,000 residents and is considered an important retail and commercial center.

The city of Westfield is home to some of New England's most outstanding attractions. For instance, Stanley Park is a 180-acre site featuring picnic, tennis, and children's play areas. Stanley Park is painstakingly maintained with several floral gardens, arboretums, and fountains. It also has a newly developed area showcasing Early American scenery.

Other points of interest in Westfield include the Amelia Park Ice Rink and the Metacomet-Monadnock Trail. Westfield State University is also located in the city. Westfield's employment and economic growth have overtaken its population growth rate, which is a good indicator of its favorable economic climate. The city's largest areas of employment are in retail, manufacturing, education, and health social services.

Most lawyers in Westfield, Massachusetts file their cases at the Massachusetts District Court Department, Westfield Division. The district court is conveniently located in Westfield and also serves a total 8 other towns. Westfield lawyers offer superb services in a variety of legal fields and practices.

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