Chapter 7 Bankruptcy

You may be wondering what happens if you file Chapter 7 bankruptcy and you own assets that cannot be exempted or sheltered under the applicable exemption laws in your district. There may be instances where you need to file bankruptcy to stop a pending lawsuit but you do not have the income to support a […]

Massachusetts Mortgage 150-Day Right to Cure and Bankruptcy

by Nicholas Ortiz, Boston Bankruptcy Attorney

July 23, 2013

July 23, 2013 Massachusetts has a new mortgage law that requires mortgage servicers to send a right to cure notice before foreclosure allowing homeowners 150 days to get caught up on their mortgage. You can read about the details of that new law here. One of the key details is that, during the 150-day right […]

Over the past dozen or so years, the bankruptcy process known as chapter 13 lien stripping has become universally accepted by the courts.  Recently, advocates of lien stripping have expanded their efforts in the next logical direction: gaining judicial recognition of lien stripping in chapter 7 bankruptcy cases. Indeed, a three-judge panel of the Eleventh […]

Chapter 7 offers many advantages over Chapter 13: faster process – 5 months vs. 5 years lower cost more complete relief from debts When I meet with a prospective client, I start my evaluation by by asking “can this person fit into a Chapter 7?”

Social Security benefits are well protected in bankruptcy.  And that often means they’re protected even from Social Security. Sometimes folks are overpaid by Social Security.  It can happen routinely.  You are on disability but beginning to work again.  When you earn money, you report it to Social Security but, even if you are making too […]

Did you know that your time in Chapter 7 is an ideal time to negotiate extremely favorable buy outs or payment terms for secured debts?  Because you have the option to surrender secured collateral that may have lost significant value, secured creditors are usually willing to accept pennies on the dollar. While most people see […]