Law Office of  Theodore S. Collatos - Beverly Bankruptcy Attorney
Law Office of  Theodore S. Collatos - Beverly Bankruptcy Attorney
Massachusetts Bankruptcy Lawyer

Beverly Chapter 13 Bankruptcy Lawyer

Marblehead Payment Plan Lawyer

Even in this difficult economy, honest, hardworking people find themselves struggling to get out from under their crushing debt. Filing for Chapter 13 bankruptcy is a viable option to help protect your assets and start you on the path to a fresh financial future.

At the Law Office of Theodore S. Collatos, we work side by side with our clients to help them determine if Chapter 13 is the right decision, what steps they need to take in preparation and what the costs and benefits of bankruptcy might be in their unique situation. You can count on us for compassion, understanding, personal service and representation tailored specifically to alleviate your troubles.

"The law changed in 2006 and created a standard that requires the completion of a means test to determine which bankruptcy chapter you qualify for. If your gross income is above the median income of the state in which you reside, you cannot use Chapter 7 but Chapter 13 is still an option. There are several variables to examine, and you should consult an experienced attorney to know your protections under the Bankruptcy Code." - Attorney Theodore S. Collatos

Experienced Bankruptcy Attorney in Massachusetts

Filing for debt relief under Chapter 13 of the Bankruptcy Code is much more complicated than Chapter 7. The process is longer, and there is much more responsibility placed on your shoulders. There are several main differences, including:

  • With the assistance of your attorney, you will create a repayment plan to present to a bankruptcy judge.
  • If that plan is approved, the judge determines whether the duration of the repayment will be three or five years.
  • Any remaining unsecured debt can potentially be discharged after the repayment plan period ends.
  • Chapter 13 can protect against losing your home by placing arrears into the repayment plan so you can continue making home payments and stop foreclosure proceedings.

Contact a Beverly Chapter 13 bankruptcy attorney at the Law Office of Theodore S. Collatos as soon as you have decided that filing for bankruptcy is an option for your financial future. Having an experienced attorney guiding you through this process will make your filing much easier to manage.

Contact the Firm

If you have questions regarding filing for Chapter 13 bankruptcy or lien stripping, contact the Law Office of Theodore S. Collatos. We offer a free initial consultation, and we can meet during evening or weekend hours for your convenience.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

 

Law Office of Theodore S. Collatos
19 Washington Street
Beverly, MA 01915
Toll Free: 888-856-4899
Phone: 978-338-4399
Fax: 978-921-2850
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