Law Offices Of John E. Mahoney
Bankruptcy Law
Filing for bankruptcy is an experience that I strive to make as stress-free as possible. I gladly work around your schedule to make sure that we get the best possible outcome for your situation. Please give me a call today so we can begin the process of eliminating your debt.
We assist our clients in stopping lawsuits, foreclosures, creditor harassment, tax collections and repossessions through the filing of petitions under Chapter 7 and 13 of the United States Bankruptcy Code.
Because of our knowledge and years of experience dealing with complex financial matters, we can often recommend actions which avoid business bankruptcy and preserve your assets. If bankruptcy is necessary though, you should remember that bankruptcy is not the end of your financial life. In many ways it is a new beginning – a fresh start.
STOP FORECLOSURE
Pay Past Due Mortgage Over 36-60 Months
* Get Out of Debt Immediately
* Eliminate Credit Card Debt
* Stop Harassing Calls
* Stop Repossessions
* Stop IRS Actions
BRING US YOUR UNPAID BILLS
* Keep Your Home
* Keep Your Car
* Keep Your Business and Personal Property
* Debt Consolidation
Free Consultation and Debt Counseling Services
Bankruptcy Attorney John E. Mahoney in North Andover, Massachusetts offers a wide range of debt counseling services for the individual, family, or small business confronted with the daunting reality of insurmountable financial obligations. These services may include the preparation and filing of a Chapter 7 petition(s) for the overextended consumer and small business or a Chapter 13 Bankruptcy petition for individuals seeking to reorganize their seemingly unmanageable debt.
Additionally, Bankruptcy Attorney John E. Mahoney works to assist individuals and small businesses in avoiding filing for bankruptcy relief whenever circumstances permit, doing so through direct negotiations with creditors. Our firm strives to assist the beleaguered individual or small business with compassion, professionalism and experience.
There is no fee for the initial consultation and we recommend completing the bankruptcy questionnaire for our first meeting. Please contact us so we can send you the bankruptcy questionnaire as soon as possible. If you would like to review your options with Attorney Mahoney, please feel free to contact our office at (978) 557-5755 or by emailing Attorney Mahoney at john@lojem.com. You may also contact our firm via the Contact Form.
Under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, procedures for filing bankruptcy changed. More stringent documentation and more restrictive qualification requirements are now in place. Prior to the 2005 changes in bankruptcy law, anyone could file for Chapter 7, the most common form of bankruptcy for individuals. Under the new code, whether you can file is determined by your income. Your income may not be higher than the median income for your state in order to file for a Chapter 7, and you are given 180 days to undergo bankruptcy credit counseling with counselors approved by the U.S. Trustee’s office.
Chapter 7 is the most common form of bankruptcy. In most cases all of an individual's debts are discharged with the exception of certain limited debts such as student loans, domestic support orders and some forms of taxes. Many assets, including up to $500,000.00 in equity in one's home are exempt which means that most Chapter 7 debtors are able to keep all of their property while at the same time getting a fresh financial start in regard to most of their debts. If credit card debts, medical bills and similar types of debts are keeping you awake at night or otherwise making it impossible to get on with your life you may wish to learn more about Chapter 7 by contacting the attorneys at Alford & Bertrand, LLC.
A Chapter 13 bankruptcy can be used to save homes from foreclosure, stop repossessions, deal with taxes, lower car and installment loan payments and protect property, which might be lost in Chapter 7.
Chapter 13, described as rehabilitation, is filed when there is regular income and allows for reorganization of debt. Based on future income, the debtor works out a payment plan to repay money owed over a period of 3-5 years. Whenever a debtor has substantial equity in a home and has significant assets, filing a Chapter 13 and establishing a plan to repay debt allows him to retain assets. And, if there is money owed to the IRS, a debt that will not be wiped out by filing bankruptcy, a Chapter 13 may work to the debtor’s advantage over a Chapter 7.
Provided a debtor’s equity does not exceed certain limits, a Chapter 13 bankruptcy allows the debtor to keep property such as his home, vehicle and other assets, which may be exempt according to Massachusetts State laws.
One who operates a business as an unincorporated sole proprietor may also utilize Chapter 13 to repay debts, but only if filing as an individual, and by including the business-related debts for which he is personally liable.
- Free initial consultation.
- Competitive rates.
Law Offices of John E. Mahoney
184 Pleasant Valley Street, Ste 2-102
Methuen, MA 01844
Phone: 978-557-5755
Fax: 888-523-7450
Email: john@lojem.com
