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November 2016 Archives

Chapter 12 bankruptcy is debt relief for Massachusetts fishermen

The men and women of Massachusetts' fishing industry have seen some tough times in the last two decades due to foreign competition, overfishing, government regulations and now climate change. New England's cod fishery, for example, has declined from more than 1,200 boats in the 1980s to fewer than 100 today.

Major bank is marketing loans to pay off credit card debt

Recently a major U.S. bank began promoting a new line of personal loan products to consumers who want to pay off their credit cards. For Massachusetts residents struggling with credit card debt, anything that looks like a way out can be a temptation. For many individuals, however, taking on new debt to pay off old debt will only make the problem worse.

Discussing debt relief options under bankruptcy law

Many households in Massachusetts have finally put the worst of the so-called "Great Recession" behind them. Many others, however, continue to struggle financially. For many families, it's a struggle to make it from paycheck to paycheck. They are never sure if they can cover the rent or the mortgage each month, let alone pay for utilities, car payments, groceries and student loans. The loss of a job, medical debt and other struggles of everyday life can easily put a family in a tough financial situation.

What's the best way to prioritize my debts for repayment?

Many people in Massachusetts who feel overwhelmed by debt make the decision to file for personal bankruptcy. But, before making that decision, it's generally a good idea to determine if there's a way to reduce debt to a manageable level without filing for bankruptcy.

Protection from creditor harassment under the law

It is not unusual nor is it anything to be ashamed of for Massachusetts residents to run into financial challenges. When a person is unable to keep up with the payments on consumer debt, the angst can be overwhelming. Considering filing for bankruptcy is a reasonable option to try and get out of consumer debt. As this is under consideration and the process moves forward, many debtors might be under pressure due to creditor harassment. There are certain tactics that creditors are able to use to try and collect a debt. Others are violations of the law.