Bankruptcy in Worcester
Worcester is a city in the commonwealth of Massachusetts and the seat city of Worcester County, therefore bankruptcy in Worcester is provided by both the Federal Bankruptcy laws and Massachusetts laws. If you are considering to file for bankruptcy in Worcester, the United States Bankruptcy Court that has jurisdiction over the town and cities in the Worcester Donohue Federal Building 595 Main Street, Room 211, Worcester, MA, 01608-2076, the clerk’s office is open at 0830hrs up to 1630hrs you can file your between those hours during business days (phone: 508-110-8900, Fax: 508-720-8900)
Chapter 11 Worcester bankruptcy
It is usually filed by large business entities(partnerships and limited liability corporations) because the intent is to reorganize their debts and still continue to be in business; sometimes spouses or persons with huge debts can be required to file for chapter 11 bankruptcy.
Chapter 12 bankruptcy in Worcester
Bankruptcies filed by farmers and fishermen (fishing for commercial purposes) and are seeking to organize their debts; chapter 12 bankruptcy allows them to be make payments for during the seasons favoring them.
Means test for filing Worcester bankruptcy
This test was established to reduce the number of people filing for chapter 7 because you have to pass it for you to file for chapter 7 bankruptcy, it compares debtor’s household income with the median income of similar household, below the median you qualify to file your petition and if not you will have to provide information about expenses and your secured debts for further examination for your eligibility to file. If you choose to file chapter 13 a similar test is administered and if your income is below the median you will file for a 3year plan instead of a 5years one.
Credit counseling certificate and debtor education course in Worcester
At least 6 months before you file your petition; you must undertake a credit counseling course with an agency approved and if 180 days pass after you have obtained your counseling certificate, you must also undergo and complete a debtor education course before you can acquire your bankruptcy discharge.
Bankruptcy exemptions in Worcester
They determine what assets you get to keep and what the lenders will be receiving during chapter 13 plan and you can only choose to go with either the federal exemptions or Massachusetts exemptions but not both; you cannot match or mix them up.
Emergency bankruptcy filing
Some issues may arise that may prompt you to seek activating automatic stay such as a Foreclosure sale on your home, car repossession, wage garnishment and lawsuits and because due to the fact that regular filing takes a lot of time to compose the petition, this allows you to file only a few documents and within 14 days to file you are to file the rest of paperwork.
We are licensed and authorized to operate in the Worcester and in Massachusetts; we have been in operation for nearly a decade therefore we are highly experienced. Our workforce is highly qualified and possesses expertise in their different fields. Our services are diverse ranging from credit counseling to legal presentation during the bankruptcy proceedings and any adversary proceedings that may arise in the process; our services are not only to help you resolve your case in the present but also to help you avoid the same problem(s) in the future, and since bankruptcy has a damaging effect on your credit score we also help evaluate other means you can resolve your situation without have to go through bankruptcy.
Worcester, MA 01608