Consumer Bankruptcy Lawyers in Weymouth, Massachusetts

Find the right Consumer Bankruptcy attorney in Weymouth, 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 Weymouth, Massachusetts will have particular rules for exemptions, so you should speak with a local attorney before filing.

Chapter 7 Bankruptcy in Weymouth, Massachusetts

There are 2 common types of consumer bankruptcies in Weymouth, Massachusetts: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 requires that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many types 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 absolved. 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 Weymouth, Massachusetts debts are not dischargeable, you might want to consider options other than bankruptcy.

Chapter 13 Bankruptcy in Weymouth, Massachusetts

In Weymouth, 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 does not absolve debt, but restructures it instead. Normally, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is normally manageable, as long as the debtor can make some sacrifices.

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

This depends entirely on the facts of your individual 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.

Regardless of your situation, you should speak with an attorney in Weymouth, Massachusetts who is experienced in bankruptcy before making a decision. They will be able to advise you of your options, and the likely outcomes of each one, allowing you to make a much more informed decision.

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Life in Weymouth

Weymouth is named after Weymouth, Dorset, which is located in England. The U.S. city is located in Norfolk County in the state of Massachusetts. Its formal name is The Town of Weymouth. It is a very historic town, as it was incorporated in 1635. Currently Weymouth has a population of 54,000.

Since Weymouth is a very "mature" city, it has had ample time to develop economically and commercially. In fact, the town is nearly completely developed compared to other areas in the region. Therefore many of the economic projects in Weymouth focus on redevelopment and transformation of existing facilities into new uses.

Examples of redevelopment in Weymouth include the conversion of Nike Missile Base into Webb state Park. Another project converts Mammoth Mart into a shopping center. The city of Weymouth is a prime example of efficient and productive use of commercial zoning.

The Town of Weymouth is neatly divided into four areas, or "Squares": Bicknell Square, Jackson Square, Weymouth Landing, and Columbian Square. The busiest of the four squares is Columbian Square, which boasts many local recreation and entertainment venues.

Lawyers in Weymouth spend a lot of time at the Quincy District Court, which has jurisdiction to hear claims arising in Weymouth. The District Court is located nearby in the city of Quincy. Many Weymouth, Massachusetts lawyers contribute their time to community building projects.

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