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August 2016 Archives

The automatic stay gives immediate relief in personal bankruptcy

Many people in Massachusetts deliberate for months or even years before making the decision to file for personal bankruptcy. But even when a person has been thinking about it for a long time, the final decision to file often comes when a crisis hits. Perhaps they have been laid off. Perhaps they just received a notice of foreclosure on their mortgage. Or perhaps the gas or electric company is threatening to cut off service.

Judge: debtor's car crash settlement must go to Chapter 13 estate

For Massachusetts residents who earn a regular income but are overwhelmed by debt, a Chapter 13 bankruptcy can provide significant relief. In a Chapter 13 bankruptcy the debtor enters into a court-approved plan to pay off some or all of their debt in three to five years.

Learning how to overcome debt with debt relief options

Dealing with financial problems is never easy, and for some Massachusetts residents, debt problems are unavoidable. Whether people are struggling financially because of a job loss, suffering from an illness or injury, are dealing with a struggling business, suffering the loss of a loved one or other difficult or unfortunate events, there are ways to tackle debt and regain control of their finances.

CFPB protects Massachusetts consumers from financial industry

July marked the five-year anniversary of the Consumer Financial Protection Bureau. Massachusetts Senator Elizabeth Warren first proposed creation of the CFPB to fight back against banks, credit card companies and other financial industry businesses who can take advantage of consumers. Not surprisingly, financial industry lobbyists tried unsuccessfully to block the creation of the CFPB.