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August 2013 Archives

Chapter 13 bankruptcy one option for repeat filers

While most people who file for bankruptcy in Massachusetts usually promise themselves that they never will allow themselves to get in such dire financial straits again, many Massachusetts residents, along with those in other parts of the country, may unfortunately find themselves having to file a second or even third bankruptcy for reasons that are not entirely within their control.

The importance of understanding the personal bankruptcy process

The story of an immigrant family who tried to live out the American dream by starting a new business serves as an important reminder for Massachusetts residents who are contemplating trying their own hands at a new business idea. It also serves as a good reminder of how bankruptcy can help individuals with overwhelming debt.

Man sentenced for his role in debt relief scam

Some Massachusetts residents who have struggled with financial difficulties may have tried to avail themselves of the services of a private agency that offers assistance with settling one's debts outside of the bankruptcy process. While this option may be attractive to many and even best for some people, debtors in Massachusetts need to be cautious, since not all of these self-styled "debt relief" agencies are legitimate.

Famous singer resolves Chapter 7 case; forfeits rights to songs

Massachusetts readers who are struggling with debt might take some comfort from hearing that even the rich and famous can have financial troubles. Singer Toni Braxton, who enjoyed considerable success in the mid-1990s with her single "Un-Break My Heart", recently resolved a dispute with the bankruptcy trustee in her pending Chapter 7 bankruptcy case.

Avoiding common errors may help reduce credit card debt

One financial expert recently offered his opinion on how Massachusetts residents and those in other parts of the country can avoid being overwhelmed by credit card debt. The expert notes that while legislation like the CARD Act may help protect consumers from the financial challenges that result from mounting credit card bills, both Massachusetts consumers and others can on a personal level be proactive in avoiding some costly mistakes that often lead to more debt and less financial security: