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With radical changes to existing bankruptcy laws thanks to the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) effective October 2005, filing for Chapter 7 or Chapter 13 bankruptcy is certainly more complicated today. As a result, much misinformation has circulated and there are inaccurate reports that bankruptcy filing is no longer possible unless you pay off all of your debts or that the only kind of bankruptcy available will strip the applicant of all assets including their home, vehicle and retirement accounts. On the contrary, the basic right to file Chapter 7 or Chapter 13 bankruptcy and most of the protections therein is still included under the new law. Consumers still have the right to file and receive much needed relief from overwhelming debt.
While there is more paperwork to contend with, Attorney Gaudreau has been able to achieve the same outcome for most of his clients as existed before the law changed.
Along with the rules, the cost to file bankruptcy has also changed. Under the new law, the fees you will pay to the court and to your bankruptcy attorney have increased. Does that put bankruptcy out of reach for many Americans? The answer is still a resounding no. By immediately stopping foreclosure, debt collection and repossession, filing for bankruptcy often provides instant financial relief and frees up cash so you can afford to receive the U.S. Bankruptcy Court's protection. We will talk with you about your options when we meet.No hidden fees and all financial requirements are disclosed upfront. We will walk you through the entire process. There will be NO surprises and no mounting fees. The estimate we provide includes all legal fees, court costs and associated fees.
Though filing bankruptcy can be a difficult process, it will provide you with immediate relief and a fresh financial start. For those who qualify, you will protect your home, cars and other assets from creditors' attachments and/or seizures.
By filing bankruptcy, you will stop the creditor phone calls, court actions, foreclosures, repossessions, and wage garnishment. During bankruptcy, you are also protected from the IRS and student loan collectors. Your creditors will stop harassing you.
Number of U.S. Bankruptcies in 2008 – 1,117,771
Number of U.S. Bankruptcies in 2009 - on pace to reach 1.5 million this year*
Our practice area reaches throughout New Hampshire and Massachusetts.
The information contained here is for educational purposes only and it is not intended as legal advice nor does it constitute the establishment of an attorney-client relationship. You should consult a bankruptcy attorney for specific advice about your situation.