Individuals file Chapter 13 bankruptcy for a variety of reasons. The following are some of the most common ones we hear from clients:
1. You fell behind on your mortgage or car payments and need bankruptcy to catch up.
2. You make more than the median income in your state and do not pass the [...]

The 2005 amendments to the bankruptcy code created a new “Means Test.” The main purpose of this test is to a) determine if an individual is eligible to file a Chapter 7 bankruptcy and b) to determine the disposable income of a Chapter 13 debtor who is above the median income.
In order to determine [...]

Many times, it is possible for a bankruptcy attorney to tentatively diagnose your financial problems and outline solutions without detailed documentation. However, the following documents may be helpful during an initial bankruptcy consultation:
1. A recent pay slip for you and your spouse (if you are married).
2. If you own an [...]

Bankruptcy debtors have the right to exempt property from the bankruptcy estate up to a certain dollar amount. In Massachusetts, bankruptcy debtors have the option of using either the Federal or Massachusetts exemptions to do this.
Where a debtor has a large amount of home equity they want to protect, he or she should use [...]

There are many reasons people decide to file Chapter 7 bankruptcy. Here are a few we have been seeing a lot of recently:
1. Your monthly debt payments, when combined with your living expenses, exceed your monthly income.
2. You would like to wipe out your debts and receive a fresh start as quickly as possible.
3. [...]

Judge Feeney, Massachusetts Bankruptcy Judge, days ago issued an important decision on an issue of whether a Chapter 13 debtor would be allowed a means test deduction for a payment of a secured debt when the payment was not being paid due to lien avoidance. See In re Marshall, 2009 WL 1652471 (Bkrtcy.D.Mass. 2009). [...]

Who should file for bankruptcy? Here in Massachusetts, here are some common scenarios I see:

You are trying to keep debts current but are borrowing money from one card to pay other (robbing Peter to pay Paul).
You are trying to keep debts current by using your savings but can see the day approaching when [...]

A Chapter 13 is a court-administered debt repayment plan. In a typical case, a percentage of general unsecured debts are paid (like credit cards) and the unpaid balances are discharged. How long the plan lasts depends on income.
The 2005 BAPCPA bankruptcy amendments created “commitment periods” that vary based on whether a debtor is [...]

People are often worried about whether they can keep their car in bankruptcy. This makes sense because in places without pervasive public transportation people need cars to get to work, take their kids to school, etc. There are a few key points about cars to remember.
1. In a Chapter 13 case you never [...]

The means test is a key feature of the 2005 BAPCPA bankruptcy amendments. It incorporates state median income figures to determine who should pay back some of their debts in a Chapter 13 plan. Median income is on a sliding scale based on family size. Consequently, the more people one can claim as [...]