Practice Areas - New Hampshire & Massachusetts Bankruptcy
Chapter 7 Bankruptcy
This is often called a "straight" bankruptcy. Debtors usually receive their discharge soon after they file and they are allowed to keep any money they earn after they file. In Chapter 7, debtors are required to give up "non-exempt" property and laws in New Hampshire and Massachusetts have different requirements. Some debts will be dischargeable while others will not. Determining exempt property (or property you are allowed to keep) and knowing how to handle the issues of dischargeable and nondischargeable debts are the most important reasons to be fully prepared before you file, and since Attorney Gaudreau is Board Certified in Consumer Bankruptcy Law, he is highly experienced and will be able to address these issues for you.
Chapter 13 Bankruptcy
Chapter 13 is the "wage earner" chapter. Debtors who have a regular source of income repay some or all of their debts over a three-to-five year period during which they are free from harassment from their creditors. The most common reason people file a Chapter 13 is that debtors have a pending foreclosure because the Bank refuses to work out a reasonable repayment plan. A Chapter 13 filing forces the bank to accept back-due mortgage payments over 3 to 5 years. At the end of the repayment period, debtors are issued a discharge order. While Chapter 13 is a far more involved process than a Chapter 7, it will discharge debts that Chapter 7 will not, and sometimes it is the only way for people to protect their home or other assets from their creditors.
Creditor Violations Related To A Bankruptcy Case
Before a bankruptcy, people facing intense creditor pressure are often threatened with illegal actions by collection companies in violation of the Federal Fair Debt Collection Practices Act. Also, creditors who grant home equity loans within 2 years of a bankruptcy may not have complied with the Truth-in-Lending Act. After filing bankruptcy, creditors are prohibited from contacting debtors and to the extent they ignore this requirement, debtors may be entitled to damages. After a bankruptcy is complete, creditors sometimes continue to report incorrect information to credit reporting agencies in violation of the Fair Credit Reporting Act. Attorney Gaudreau advocates aggressively for his clients when these situations arise.