Eliminate Debt and Restore Financial Freedom!
Bankruptcy is one of the more distressing and complicated financial endeavors that you may have to go through. Although there is nothing attractive about declaring bankruptcy, it may be the only way that you can put some of your most substantial debts behind you so you can on with your life. As such, by filing for bankruptcy in New Hampshire or Massachusetts, you may have the chance to prevent creditors from taking action against you, suing you, and sending you letters, among other tactics.
Whether you plan to file for Chapter 7, or Chapter 13 bankruptcy, it is essential to have a prominent New Hampshire bankruptcy attorney to represent your interests by calling the Law Office of Robert H. Prince at 603-401-0409 or 617-721-9141.
Prior to beginning the bankruptcy process in any state, you’ll need to obtain a credit counseling certificate and then complete a bankruptcy petition. It is important to note that, based on your unique situation, you may have other documentation to complete in order to effectively petition for bankruptcy.
As indicated above, the first step is to obtain a credit counseling certificate from an agency approved by the U.S. Trustee's Office within the six-month period prior to filing. You may have to take a debtor education course as well after you have attended what is called the 341 Meeting of Creditors in order to receive your discharge. Following that meeting and prior to receiving the discharge you are required to take another debtor education course.
In addition to the courses, you’ll also need gather all appropriate documentation, including:
Current income sources
Major financial transactions from the previous two years
Monthly living expenses
Secured and unsecured debts
Property (all assets and possessions)
Tax returns from the last two years
Deeds to real estate
Documents for any loans
This documentation will be essential when filing your petition, completing the number of schedules containing detailed information about your finances, and finishing other forms, such as the lengthy “means test” (for Chapter 7) and a fairly similar form for Chapter 13 bankruptcy.
Most Common Bankruptcy Filings
In most cases, you’ll either be filing for Chapter 7 or Chapter 13. Choosing which type of bankruptcy should depend on your specific financial circumstances as well as the benefits available from each type.
Chapter 7: Chapter 7 bankruptcy is also known as liquidation bankruptcy, however in most cases, state and or federal law allows you to protect most of your personal property and you may even be allowed to keep your home and vehicle so long as your payments are current and the equity does not exceed a certain amount versus what is owed.
Chapter 13: Chapter 13 bankruptcy cases are for individuals who do not qualify for Chapter 7 and involves filing a repayment plan with the court over the period of either three or five years depending on the amount of your debt and your level of disposable income. Best of all, you are allowed to keep all of your assets at the same time. After the plan ends, the rest of your debt is discharged.
Contact the Law Office of Robert H. Prince for a Free Consultation.
With years of experience providing legal counsel to many of individuals in the New Hampshire and Massachusetts, the Law Office of Robert H. Prince understands that no two bankruptcy cases are alike. Therefore, we approach every case with extreme diligence and industry-leading bankruptcy litigation strategies.
Leave your debts behind and get a fresh start by contacting the Law Office of Robert H. Prince at (603)-401-0409 or (617)-721-9141.