At the Law Offices of William J. Carroll III, we will aggressively work to help you overcome your debt. One option that allows you to completely discharge your consumer debt is Chapter 7 bankruptcy. If you or your spouse was laid off, causing your income to plummet, there is a good chance you qualify for Chapter 7.
If you qualify for Chapter 7, put the past behind you and move on with your life. Call the Law Offices of William J. Carroll III in Framingham, Massachusetts, at 508 626-2566 or contact us online.
Discharge Your Debt With Chapter 7
Chapter 7 bankruptcy is one of the two most common types of bankruptcy. Once a discharge is granted, Chapter 7 allows you to make a fresh start. Criteria for filing for Chapter 7 include:
- You must meet the income requirements of the "means test"
- You must be a resident of Massachusetts for six months
- You cannot have filed for bankruptcy in the previous eight years
To qualify for Chapter 7 bankruptcy, you must meet the requirements of the "means test," which is based on income. If you exceed the income qualifications, you can file for Chapter 13 bankruptcy.
The Law Offices of William J. Carroll III can also assist clients in filing for Chapter 7 business/corporate bankruptcy.
Chapter 7 and Your Credit Score
In most cases, your credit score can be restored within a few years of filing a Chapter 7 bankruptcy. Though the actual bankruptcy will stay on your credit report for 10 years, you will likely qualify for certain forms of credit fairly soon after you file and you may even qualify for a mortgage two to three years following a bankruptcy.
Worcester Attorney for Chapter 13 Bankruptcy
If you have a regular income but are still struggling to meet your monthly obligations, you may wish to file for Chapter 13 bankruptcy. At the Law Offices of William J. Carroll III, we will determine if you qualify for Chapter 7 and, if you do not meet the criteria, we can help you reorganize and pay off your debt under Chapter 13.
If you are considering bankruptcy, we know this is a difficult time. To speak with an attorney who understands what you are going through and has more than 30 years of experience helping people like you, contact the Law Offices of William J. Carroll III.
You can reach us online or call our law offices in Framingham, Massachusetts, at 508 626-2566 to schedule a free consultation.
Reduce and Repay Your Debt With Chapter 13
In a Chapter 13 bankruptcy, you are able to restructure your debt through a repayment plan that includes making minimum payments to your creditors over three to five years. Following the repayment period, your remaining debt will be discharged.
If your income prevents you from filing for Chapter 7, Chapter 13 bankruptcy is an effective way to avoid foreclosure, repossession and other negative consequences. By paying back only a portion of your unsecured debt, such as credit card and medical bills, you can redirect larger portions of your income to essential secured loans, such as your home or vehicle.
Contact the Law Offices of William J. Carroll III at 508 626-2566 to schedule a free initial consultation with an experienced bankruptcy lawyer.
Following your free consultation, we offer flexible payment plans.