Providing You with Proven Debt Solutions

At Morrison & Associates, my priority is to provide my clients with compassionate and effective legal counsel to find debt relief. When facing a significant amount of debt, bankruptcy can help you eliminate or repay your debts over time. Bankruptcy is a federally protected tool for individuals and businesses. There are several types and, as an experienced bankruptcy lawyer, I can help you to navigate the eligibility criteria to find the appropriate option for your situation.

Call Morrison & Associates today at (508) 928-3038 or use my online contact form for legal representation through the bankruptcy process.

The Bankruptcy Process

Six months before filing for bankruptcy, you must complete credit counseling with an approved agency. The next step is to determine whether you may file for Chapter 7 or Chapter 13 bankruptcy. You will also complete a financial management course after you file.

The court requires your financial information, including:

• Income sources
• Assets and property
• Debts (secured and unsecured)
• Monthly expenses
• Major financial expenditures (for the past 2 years)

The Chapter 7 bankruptcy process takes 3 to 6 months. Important details to know about Ch. 7 bankruptcies:

• Some property may be exempt from liquidation
• An appointment trustee will handle your case, including arranging a meeting with you and your creditors
• All non-exempt property gets liquidated to pay off your creditors
• The remainder of your debt will then be discharged

The Chapter 13 bankruptcy process usually requires 3 to 5 years. Important details to know about Ch. 13 bankruptcies:

• You need to a create a repayment plan and submit it to the court
• You will be protected by an automatic stay from the court that prevents creditors from contacting you for payment
• If the court approves the repayment plan, you make monthly payments until you have fulfilled the plan’s terms
• At the end of the agreed term, the remainder of your debt is discharged

Alternatives to Bankruptcy

Declaring bankruptcy can be an extremely effective way to eliminate debt for many individuals. However, in some circumstances, an alternative option may be more appropriate. This is why hiring a full-service bankruptcy lawyer is important. When you work my firm, I will carefully consider all the pros and cons of filing for bankruptcy as a means of debt relief for your situation before recommending that route.

With my thorough understanding of bankruptcy alternatives, we can determine a personalized debt relief strategy tailored to your financial situation and your specific goals.

Bankruptcy alternatives include:

• Taking legal action against abusive creditors who use unlawful harassment methods
• Negotiating with your creditors about your outstanding debt to possibly lower it, or to lower the interest rate
• Working with a nonprofit credit or debt counseling agency to help negotiate with your creditors
• Seeking a debt consolidation loan to pay off your creditor completely

Regardless of your financial situation, I can walk you through all the alternatives so that you can make an informed decision on what path you wish to pursue. Once we have a plan, I can take the necessary legal action to help you achieve debt relief.

Do you need debt relief in Spencer, MA? My law firm, Morrison & Associates, can represent you. Please reach out to me online or give me a call at (508) 928-3038 for more information.