Chapter 13 Bankruptcy

Massachusetts Chapter 13 Bankruptcy Law Firm – Serving Clients in Massachusetts and the Surrounding Areas

If you are in a lot of debt, it is essential to know that options are available to help you recover. Chapter 13 bankruptcy may be an option for you if you aren’t eligible for Chapter 7. Coleman & Macdonald Law Office. Helps clients secure their futures by guiding them through the Chapter 13 bankruptcy process.

Call us at 781-205-4735 to speak with one of our Massachusetts Chapter 13 bankruptcy attorneys. No obligation, confidential consultations with our team are available.

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy differs from Chapter 7 bankruptcy in not involve liquidating assets to pay debts. Chapter 7 bankruptcy is reserved only for low-income people who cannot pay their debts. Chapter 13 bankruptcy, also known as restructuring, involves a court-mandated repayment plan. This is a standard option for people who can afford to pay at least some of their debts.

Chapter 13 bankruptcy requirements include:

  • Stable income
  • Unsecured debt below $394725.
  • Secured debt beneath $1,184,200

Unsecured debt is any debt with no collateral, such as credit card or medical debt. This is different from secured debt such as home or auto loans. These types of debt cannot be released because they have collateral like cars or homes, and secured debt cannot be discharged. Chapter 13 reorganization is a way to reduce your payments so that you can get back on your feet financially. You can also avoid losing your home and car due to your secured debt.

Although it can take years to file Chapter 13, bankruptcy can be a good option for people who want to restore financial stability. This process allows a person to repay their debts more affordably than if they had stayed at the same amount. After making the lower court-mandated payments, the person is not responsible for unsecured debts.

Chapter 13 Bankruptcy

Massachusetts Chapter 13 Bankruptcy FAQ

What is the cost to file Chapter 13 Bankruptcy in Massachusetts?

It costs close to $310 to file for Chapter 13 bankruptcy. This is as of 2020, and this does not include attorney fees. Coleman & Macdonald Law Office. can give you a better idea of the cost of your Chapter 13 process. Don’t hesitate to contact Coleman & Macdonald Law Office for a complimentary consultation.

What qualifies someone for Chapter 13 Bankruptcy

You must be a resident or do business in the United States to qualify for Chapter 13 bankruptcy. A person must also have a regular income and have no unsecured debts greater than $336,000. Chapter 13 claimants cannot have secured debts greater than $1,010,000. They can’t file a bankruptcy case in the last 180 days and must have received credit counseling.

Chapter 13 Bankruptcy: Is Credit Counseling Mandatory?

Yes. Before a person is eligible to file for Chapter 13 bankruptcy, credit counseling must be completed within 180 days.

What is a Chapter 13 Bankruptcy Automated Stay?

An automatic Stay is a notice sent to creditors notifying them about a Chapter 13 filing, and this document prohibits them from doing specific actions.

What is the average length of Chapter 13 bankruptcy?

The length of a Chapter 13 bankruptcy case depends on the individual’s financial situation. The majority of Chapter 13 bankruptcy plans last between 3 and 5 years.

What if a person cants their Chapter 13 payments?

A person can request a suspension of payment if they stop paying Chapter 13 payments. A plan modification can be asked to help them pay their bills. In extreme hardship cases, an individual can request to have his debt discharged or converted to Chapter 7 bankruptcy.

What if a person refuses to make Chapter 13 payments?

A bankruptcy case can be dismissed if a person stops paying their bills. If this happens, the person will not be able to get the debt relief they need.

What happens to a credit score after Chapter 13 bankruptcy?

The Chapter 13 bankruptcy filings will be visible on credit reports for seven years after the process is complete. As debtors pay their creditors, credit scores may improve quickly. Creditors often consider Chapter 13 bankruptcy to be more favorable than Chapter 7, and this is because it indicates that the debtor was able at least to repay some of their debts.

What percentage of debt does a person have to pay back during Chapter 13 bankruptcy?

What percentage of debt does a person have to pay back during Chapter 13 bankruptcy?

What percentage of debt does a person have to pay back during Chapter 13 bankruptcy?

What percentage of debt does a person have to pay back during Chapter 13 bankruptcy?

What is a Hardship Discharge?

A hardship discharge is a Chapter 13 bankruptcy that ends early due to severe and unexpected financial circumstances that prevent a person from finishing paying their restructured loans. Hardship discharges do not occur often and are granted only in extreme cases.

Is it necessary to have a Chapter 13 Bankruptcy Lawyer?

A lawyer is unnecessary for Chapter 13 bankruptcy proceedings, and legal help is not required during Chapter 13 bankruptcy. However, it can help to protect your rights and ensure that your Chapter 13 bankruptcy process is as successful as possible for your financial recovery. A bankruptcy lawyer should be considered an investment in your future.

How to apply for Chapter 13 bankruptcy in Massachusetts?

Coleman & Macdonald Law Office. is an experienced law firm that can help you with bankruptcy. We will help you file paperwork, gather all the necessary information, and maintain your rights throughout the process. We want you to understand that this process can be very beneficial and provide you with the financial freedom you need.

Coleman & Macdonald Law Office. is committed to ensuring you feel secure and supported throughout Chapter 13 bankruptcy. Our goal is a financial recovery, and we’ll work until you are confident that your debts have been eliminated and you can start over again. Our work has the potential to change lives and is something we take seriously.

Serving the following Cities:

  • Revere
  • Chelsea
  • Lynn
  • Saugus
  • Peabody
  • Springfield
  • East Longmeadow