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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.

If you are one of those households that hasn't felt the effects of the economic recovery, or if you juggle bills every month trying to decide which ones you absolutely must pay and which will have to wait, you are not alone. Lots of people are in the same boat.

Talking about debt relief options under bankruptcy law is a good first step to finding a way out of financial troubles. The right approach may not necessarily include bankruptcy because in many cases other strategies are available. But, if personal bankruptcy appears to be the best option, it is important to discuss the advantages and disadvantages of filing for bankruptcy, especially the pros and cons of Chapter 7 versus Chapter 13. And, for struggling small businesses, a Chapter 11 reorganization can provide a fresh start.

At our law firm, we understand the anxiety that results from overwhelming debt. We understand that in the vast majority of cases people have fallen into debt due to circumstances beyond their control. We do our best to help our clients get through their financial problems.

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