Beverly MA Personal Bankruptcy

Bankruptcy is the process by which debtors are afforded the opportunity to be relieved of their debts. Collatos Law Offices has experience with personal bankruptcy and creditor representation in the United States Bankruptcy Court. We take time to review individual cases one on one with our clients to decide the best course of action.

Personal Bankruptcy

Individual debtors are offered two types of filing; Chapter 7 & Chapter 13. Chapter 7 allows for an individual’s debts to be forgiven outright while Chapter 13 creates a payment structure with their creditors that will satisfy the debt over time, usually between 30 and 60 months. We offer a free initial consultation to evaluate your needs and discuss the options that are available to you to get your financial life back in order.

Alternatives to Bankruptcy

After our initial consultation it may be determined that filing bankruptcy is not the best option, and instead negotiated workouts with creditors may better solve the situation. Collatos Law Office has working relationships with many creditors and collection agencies that have allowed us to negotiate reduced one-time settlements and payment plans.

Creditor’s Rights

A creditor who holds a secured lien may need to ask the Bankruptcy Court for a relief from stay to continue to collect payments or to collect the collateral pledged by the debtor. Meanwhile an unsecured creditor in a bankruptcy case may petition the Court to find that the debt is not dischargeable under the Bankruptcy Code. We will review the terms of your claim and evaluate its strengths before petitioning the Court thus eliminating the possibility of a failed claim.

For more information about Bankruptcy and Creditor’s Rights, please contact and an associate from our office will contact you to answer any questions you may have.

Do You Have a Case?

Contact Us

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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