Cambridge is a City in the Middlesex County, Massachusetts in the Boston Metropolitan area. It got its name in the honor of the University of Cambridge in the UK; just like any other City in Massachusetts, Cambridge bankruptcy is provided for by both the federal laws as well as the laws of Massachusetts. Bankruptcy is one among many other channels a financially distressed person can apply to get relief from overwhelming debt obligations or to resolve some issues that may accrue after a foreclosure, divorce, sickness or death or before a foreclosure or divorce.
We assist our clients before they can file for bankruptcy by taking them through the prerequisites they should consider for them to file their petitions successfully. One of them is taking a credit counseling course with an agency approved by the relevant authorities in the United States and in Massachusetts. The client is required to take the course at least within 6 months prior to the filing of his/her petition.
Alternatives to bankruptcy
We are delighted to help our esteemed clients distinguish among various option they can go by and avoid the negative attributes associated with bankruptcy (its effects on credit score and the fact that its reported in your credit report for the next 7-10 years and that you cannot file for another bankruptcy petition until 8 years after filing); the alternatives include debt consolidation, loan modification among others.
Bankruptcy petition Preparation
Preparing the petition is a tedious and a time consuming activity. Our clients stand to benefit from our services because we assist them in the preparation of all the required documentations and paper works that comprises a comprehensive bankruptcy petition; we also alert them on the existence of emergency bankruptcy filings where they have situations that may warrant the immediate activation of the bankruptcy stay. Here we also assist our client in determine which bankruptcy to file which is entirely dependent on the circumstances demanding bankruptcy and other determinants there in such as the means test which by comparing your house hold income with the median income of similar households determines whether you are eligible to file chapter 7 bankruptcy or in chapter 13 whether you will be subject to 3 year plan or a 5 year plan.
We prepare our clients for the meetings of creditors by informing them about how it works and by taking him/her through the likely questions that can be asked during this meeting; the meeting is chaired by the appointed trustee in your case; the people expected to attend include the trustee, the debtor(s) in question, creditors but usually do not attend unless they believe a non exempt asset is being concealed and any member of the general public may attend the hearing; this kind of hearings are done in the absence of a judge and the judge’s intervention is sought if unresolved disagreements arise.
Last we are quite experienced in bankruptcy and we have experts in all dimensions of bankruptcy visit us at our offices in Cambridge City and we guarantee you that you will never regret considering our services.