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A trusted lawyer can help you through personal bankruptcy

For most people in Massachusetts, filing for bankruptcy is a relatively painless process. Nonetheless the debtor must make some important decisions in the course of a personal bankruptcy proceeding. Understanding the available options and making the best decisions for the situation requires a sophisticated knowledge of federal bankruptcy law and procedure, as well as state laws that affect the rights of debtors.

One of the first decisions a person must make is whether to file for bankruptcy at all. Bankruptcy has many advantages but it is not a step to be taken lightly. An experienced personal bankruptcy lawyer can help an individual decide whether bankruptcy is right for the person, or if the individual might be better served by other debt relief strategies.

Once the decision to file for bankruptcy is made, it is necessary to choose between Chapter 7 and Chapter 13 bankruptcy. In most cases the deciding factor will be whether the debtor meets the income requirements for Chapter 7 bankruptcy. If the person is not eligible for Chapter 7, the option of Chapter 13 should be evaluated.

If you choose to file a Chapter 13 bankruptcy, it will be necessary to prepare a proposed payment plan to reorganize and pay off some or all of the debts. The payment plan can be from three to five years in duration. Some debts, like car payments, must be paid in full in order to avoid repossession. Preparing a workable payment plan tailored to the individual's specific circumstances requires some skill and a solid understanding of the applicable law.

Personal bankruptcy can provide much-needed relief to those struggling with overwhelming debt. At the Law Offices of Kenneth E. Lindauer, we are committed to helping our clients make the right choices in order to get the maximum benefit from a personal bankruptcy filing.

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