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May 2016 Archives

Credit card debt is on the rise again

Credit cards can be one of the most pernicious temptations of modern life. They make it easy to run up unmanageable levels of debt without one’s being aware of it. Many Massachusetts residents have found themselves in serious financial trouble because of credit cards. And according to a recent news report, Americans' credit card debt is on the increase.

Chapter 13 can get working families back on their feet

In the course of the current presidential campaign, one of the major issues has become the financial stress facing middle-class families. Political candidates may disagree about the causes and the remedies, but it is undeniable that many working people are dealing with serious economic hardship. The decline in manufacturing and the loss of well-paying blue-collar jobs, combined with the insecure nature of today's employment world, have resulted in serious financial challenges for a lot of people. This is as true in Massachusetts as it is throughout the country.

The bankruptcy discharge is a powerful debt relief remedy

When a Massachusetts resident files for personal bankruptcy, the ultimate goal is to get some or all debts discharged. The discharge relieves the debtor from any obligation to pay the discharged debt. In most cases, the discharge is entered automatically by the court at the end of the bankruptcy case. In a Chapter 7 bankruptcy case, creditors or the trustee may file objections to the discharge. The court will rule on these objections before deciding whether or not to grant the discharge. Creditors do not have the same right to object to the discharge in a Chapter 13 bankruptcy case.