Nashwaty & Rand Bankruptcy Law

Bankruptcy is a federal law protecting any debtor with more debt than assets.  It also protects an individual from being deprived of necessary living expenses to service monthly debt.  Its function is to protect against mounting debt, when your monthly income is not enough to pay all of your monthly living and debt expenses. Visit our site at http://www.GreaterBostonLaw.com .

Chapter 7 allows for qualified debtors to obtain a discharge of most debt, allowing for a "fresh start".  To qualify, your income must be below the median income for your state and household size.  A "means test is used to determine your eligibility to file under Chapter 7.

Chapter 13 provides for one monthly payment to a Trustee.  The payment plan lasts from 3 to 5 years.  You get to keep your assets.  At the end of the plan, remaining debt is discharged.  Chapter 13 is useful if you are behind on mortgage payments or if your income is too high to qualify for filing under Chapter 7.

Or, you may need skilled communication resulting from years of experience in the field of debt management and re-structuring.  We have the experience to know what you need and to make it so.

If you think you need help in avoiding foreclosure, managing your debt, or working with your creditors, contact us for an assessment and fee quote.

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