Boston Bankruptcy Attorney

About the Bankruptcy Process

Bankruptcy was created to help individuals who are so burdened with debt that they have no hope of meeting their financial obligations. The end goal in any bankruptcy case is an individual who has been freed of most or all of their debt and given a fresh chance to build credit and a healthy financial foundation. If you are considering bankruptcy as a solution to your debt problems, it is to your benefit to contact an experienced Boston bankruptcy attorney for assistance. I, Roushi Sahagen, am an attorney who has been helping people file for bankruptcy for a number of years. My considerable knowledge of the process comes from serving as an attorney, as well as from my years of experience working in the financial industry. Through my firm, Infinity Law Group, I can provide you with comprehensive assistance in the following areas:

Chapter 7
There are several different forms of bankruptcy. Chapter 7 is the form most often used by individual debtors. When you file for Chapter 7, you can achieve real relief from your debt. Property exemptions will allow you to protect some (or all) of your property and assets and you will get the opportunity for a fresh start. Learn more about Chapter 7...

Chapter 13
If you do not want to risk losing assets and prefer to pay off your debts if possible, you can file for Chapter 13 bankruptcy. In Chapter 13, you will be required to draft a "creditor payment plan" that provides for the payment of your debts over an extended period of time, in installments. When you pay the final installment of the plan, your debts are discharged. Read more about Chapter 13...

Bankruptcy Exemptions
Our state allows you to "exempt" specific property or assets from the Chapter 7 liquidation process. The exemptions you will be able to take in your case depend on your financial circumstances, but they may include equity in your home, vehicles, household appliances, clothing, electronics, tools of the trade, and wages. Click to read more about bankruptcy exemptions...

Bankruptcy Myths
Misinformation about bankruptcy has made the process seem much more daunting than it actually is. Many people believe that bankruptcy will ruin their credit for the rest of their lives, require them to give up everything they own, or fail to protect them from ongoing creditor harassment. This is far from the truth. Bankruptcy was designed to help, not hinder or punish. Learn more about bankruptcy myths...

Means Test
Before you can file for Chapter 7, you have to take a means test. Bankruptcy courts use this test to make sure that the people who are filing are actually financially insolvent, and not just using bankruptcy as a way of avoiding paying their debts. When you take the test, your average income will be compared with the average income of the state in order to determine the validity of your hardship. Read more about the means test...

Loan Modification
Many people who are facing foreclosure choose to file for bankruptcy in order to avoid losing their home. While this is a viable option, it may not be the option for you. There are several other ways you can potentially avoid the foreclosure process, including loan modification. This involves a lender modifying the terms of your loan so that your monthly payments are lower, and therefore more manageable. Learn more about loan modification...

Massachusetts Exemptions
The available property exemptions in Massachusetts differ substantially from other states' exemptions, and from federal exemptions. For example, our state allows you to exempt up to $500,000 of equity in your home. Federal bankruptcy law only provides for up to $21,625 in home equity exemptions. Click for more information about Massachusetts exemptions...

Student Loans and Bankruptcy
There are several types of debt that are generally not able to be discharged in bankruptcy. Student loans, whether privately sponsored or government sponsored, are amongst these debts. You must be able to show undue hardship before a court will consider including your student loans in a bankruptcy. Depending on the circumstances, it may be possible to discharge your student loans through a Chapter 13 payment plan. Read more about student loans and bankruptcy...

Discharging Your Debt
The way in which you discharge your debt, and how quickly you are able to do so, depends on the type of bankruptcy you file for. In most cases, you can discharge your debt in as little as a few months if you file for Chapter 7. If you file for Chapter 13, it will likely take longer for you to discharge your debt, as you must first complete your creditor payment plan. Click to find out more about discharging your debt...

Debt Settlement
If your debt situation is not precarious enough to call for bankruptcy, there are a number of other debt relief options, including debt settlement. If you have a willing creditor, you may be able to "settle" your debt with them for much less than the full amount owed. This settlement is usually paid in a lump sum, though it can be paid in a series of installments. Read more about debt settlement...

Debt Relief
There are several options that you can pursue that may provide you with relief from your debt. Bankruptcy is arguably the most effective option, but it is usually only used in cases involving significant hardship. Other options include debt settlement, debt consolidation, and debt negotiation. Learn more about debt relief...

Debt Consolidation
Debt consolidation involves combining all of your debts into one easily manageable monthly payment. This can be done in several ways: you can take out a loan to pay off all of your debts, leaving you with only the monthly loan payment. Or you can work with a consolidation company who will take a monthly payment from you and distribute it amongst your creditors for you. Find out more about debt consolidation...

Short Sale
A short sale, like loan modification, is a way for you to potentially avoid foreclosure on your home. It involves selling your home as soon as possible, for an amount that is most likely less than the balance you owe on your mortgage. Your lender agrees to forgive the deficiency balance in exchange for receiving the full proceeds of the sale. Click to learn more about short sales...

Deed in Lieu
Deed in lieu is another form of foreclosure defense. It involves you literally turning over the deed to your home to your lender. This gives them full ownership of the property. While you will not be able to remain in your home, you will avoid the foreclosure process, which can have a significantly detrimental effect to your credit and future financial health. Read more about deed in lieu...

Foreclosure Defense
If your mortgage lender has informed you that they intend to foreclose on your home, you are not without options. There are several ways in which you can defend against foreclosure, including filing for bankruptcy. There could be other options such as a short sale, loan modification, and a deed in lieu, regular sale or a strategic mortgage default. Click for more information about foreclosure defense...

Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act was created to protect consumers who possess debt. It bans creditors from employing any form of harassment or abuse in their attempts to collect debts. Types of harassment delineated n the act include calling debtors at strange hours, threatening debtors with arrest, and misrepresenting the character or amount of the debt. Read more about the Fair Debt collection Practices Act...

Benefits of Bankruptcy
When people talk of bankruptcy, the focus is usually on the disadvantages of the process. However, there are many benefits to be obtained from bankruptcy, including the eradication of most or all of your debt, a clean financial slate with an opportunity to build healthy credit, and ridding yourself of the harassment brought about by creditors. Learn more about the benefits of bankruptcy...

The Bankruptcy Process
The bankruptcy process you undergo will differ depending on what Chapter you decide to pursue. If you choose Chapter 7, you will likely see the discharge of your debt within months. If you choose Chapter 13, you will need to engage in a multi-year payment plan. At the end of the payment plan, your remaining debt will be discharged. Read more about the bankruptcy process...

Credit Restoration
One of the myths of bankruptcy is that it ruins your credit for the rest of your life, or for 10 years (both of these are heard frequently). In truth, you can actually start receiving credit offers within months of completing your bankruptcy proceedings. Choosing the credit you do obtain carefully, working within a budget, and making timely payments will contribute to your credit being restored in a reasonable amount of time. Click to read more about credit restoration...

How a Bankruptcy Attorney Can Help You

If you are struggling with mounting debt and receiving constant calls or letters from creditors, it is important that you address the issue as soon as possible. Your financial problems will not go away by themselves. A bankruptcy attorney can provide you with the help and the tools you need to resolve your financial situation in a timely fashion.

Contact a Boston bankruptcy lawyer who can help you address your overwhelming debt.