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January 2015 Archives

Debt relief can look very different to different consumers

Some readers of this Massachusetts bankruptcy blog may be familiar with the marketing slogan, "One size fits all." Products and services that are given this designation are intended to work for any person, regardless of the many qualities that make him or her unique. While one size fits all promotions may work in some industries and markets, it is not a good policy when it comes to consumer debt relief.

How does Chapter 13 differ from Chapter 7?

For people struggling with extreme levels of debt, one of the best and most effective forms of relief can be filing for bankruptcy. Deciding to take advantage of bankruptcy protection is only the first step, however, because there are various different types of bankruptcy under which a person can file. "Debt reorganization," or Chapter 13 bankruptcy, differs from Chapter 7 bankruptcy, commonly known as liquidation bankruptcy, in several important ways.

Reality star's mistakes turn personal bankruptcy into prison time

Filing for bankruptcy is not an easy process. Aside from the emotional strain of making the decision and the challenges of sorting through one's personal finances, a Massachusetts resident must check all of the right boxes and jump through all of the right hoops in order to successfully complete the bankruptcy filing. It is possible to make honest mistakes during the process of filing for bankruptcy; however, some people find ways to manipulate the process in their favor.

Find debt relief during the new calendar year

Readers of this Massachusetts bankruptcy blog may have spent the last few weeks preparing their 2015 resolutions. Each year people traditionally make plans to improve their health, wealth and happiness as the previous year ends and the new one begins. By now some may have fallen off of the resolution wagon and reverted back to using credit cards and other deferred payment options that enable their old spending ways. For people struggling to make ends meet and crippled by medical, home or credit card debt, our law firm understands that this can be a devastating occurrence.

Medical expenses are a frequent cause of bankruptcy

People in Essex who experience unexpected life changes might also be confronted with the realization that their financial situation is negatively affected by it. This is especially true with medical expenses. No one can be truly prepared for an injury or illness that will lead to massive medical costs. Along with the personal issues that arise, the finances are not something to be ignored. Many people are taking the step to consider bankruptcy to help them through this difficult time.