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October 2016 Archives

CFPB acts to stop creditor harassment by major U.S. credit union

Struggling with debt on a daily basis is extremely stressful. The level of anxiety increases when creditors call constantly and make ominous threats. Massachusetts consumers should keep in mind, however, that there are laws in place to prohibit abusive conduct by creditors attempting to collect on a debt. The Consumer Financial Protection Bureau, established in the wake of the Great Recession, is charged with enforcing many of these laws.

For many, Chapter 7 bankruptcy has advantages over Chapter 13

When a Massachusetts resident consults an attorney about filing personal bankruptcy, one of the first decisions that must be made is whether to file under Chapter 7 or Chapter 13 of the Bankruptcy Code. For many debtors the decision will be made for them by the Chapter 7 means test; if their monthly income is above the state median and they have the means to enter into a repayment plan under Chapter 13, they will not be eligible for Chapter 7.

What should you bring when meeting with a bankruptcy lawyer?

For Massachusetts residents struggling with debt, meeting with a bankruptcy attorney can be the first step toward a new financial life. The first meeting with a bankruptcy lawyer is important, and it will helps when the debtor brings some key documents for the attorney to review.