What will happen if I file bankruptcy?

Most people have at least some incorrect perceptions and unfounded fears about bankruptcy.  Below I discuss a few I have come across over the years.  I hope that by dispelling some of these widely held myths, I can help you to determine whether bankruptcy is the right course for you. My initial phone consultation is free. You owe it to yourself to call.

If I file bankruptcy will I lose all my property?

The bankruptcy code allows individuals to exempt (or protect) certain amounts of various types of assets. Because of recent amendments to the laws regarding exemption allowances, (for which I provided testimony on Beacon Hill on behalf of the Boston Bar Association urging greater protection), Massachusetts has some of the greatest protections of personal property in the Nation.  Most people who file for bankruptcy protection do not lose any property at all. Those with substantial property can usually keep their property if they agree to repayment plan of some or all of their debt.

Will I be able to ever get credit again after filing for bankruptcy?

It is possible to rebuild your credit within months of filing bankruptcy. In many cases, clients report having an easier time obtaining credit after the bankruptcy freed them from so much debt.  I can work with you to teach you ways to rebuild your credit quickly after bankruptcy.

Judicial liens removed from client’s home

Before contacting the office, the client had struggled to stay current on overwhelming credit card debt.  By the time the client finally contacted me, client had been sued by several creditors, some of whom had obtained judicial liens against the client’s home.  I met with the client, discussed her financial situation in detail and assisted her in executing and recording a Declaration of Homestead.  I represented the client in a Chapter 7 bankruptcy and filed the requisite motions to avoid the judicial liens, clearing the client’s title to her home leaving her with only her mortgage to pay.  Through the Chapter 7 bankruptcy, the client was able to discharge the judgments as well as significant credit card debt, utility bills and medical bills.
Result: Judicial liens avoided and client obtained fresh start from debt.

Repossessed car returned to client

Prior to contacting the office, the client’s car had been repossessed after having fallen behind on the car loan.  I met with the client immediately to assess his situation.  I promptly filed a Chapter 13 bankruptcy petition on behalf of the client and demanded immediate turnover of the car from the creditor.  Within 24 hours, the client’s car was returned.  Over the course of the three year chapter 13 bankruptcy, the client was able to become current on the car loan as well as wipe out significant credit card debt.
Result: Client’s repossessed car returned and client granted fresh start from credit card debt.

Underwater second mortgage stripped from client’s home

Clients were behind on both their first and second mortgages and burdened with credit card debt when first contacting the office.  They were also very concerned that the balances on their mortgages significantly exceeded the value of their home.  I met with the clients to review their situation and explore avenues to address the various aspects of their finances.  I determined that through a Chapter 13 reorganization the clients could become current on their first mortgage while avoiding their second mortgage.  I represented and worked with the clients throughout their three year Chapter 13 plan.  At the end of their case, the clients were current on their first mortgage, has wiped out their second mortgage and were free and clear of their credit card debt.
Result: Clients retained home by wiping out second mortgage and credit card debt.

Wage garnishment prevented and debt discharged

Client was facing an impending garnishment of wages by a creditor who had obtained a state court judgment against the client. After meeting with the client and reviewing all aspects of the client’s financial condition, I determined that client would benefit significantly from an immediate Chapter 7 bankruptcy.  The bankruptcy filing prevented the wage garnishment and cleared over $70,000 of accumulated credit card debt, personal loans, utility bills, and medical debt.
Result:  Wage garnishment stopped and over $70,000 of debt discharged.

Homeowner saved from foreclosure by filing Chapter 13 bankrupcy

Client contacted the office days before a scheduled foreclosure on his two-family residence.  I analyzed the client’s financial circumstances and options for addressing substantial mortgage arrears and overwhelming credit card debt and utility bills.  I worked closely with the client to prepare an emergency Chapter 13 bankruptcy filing, including proper recording of a Declaration of Homestead. Through the plan of reorganization, the client was able to become current on his mortgage as well as wipe out tens of thousands of dollars of credit card debt, personal loans and utility bills.

Result: Client staved off foreclosure to save home and discharged credit card and other debts.

In our opinion, Susan is the best Boston bankruptcy attorney ever!

“Susan Grossberg is in a class by herself. We were blown away by our experience. For other legal issues in the past, my wife and I have hired what we thought at the time were very good lawyers. But Susan is on a higher plane entirely. She is the new standard for legal representation. Our only wish is that she handled more than bankruptcy–we would use her as our lawyer for EVERYTHING. Before hiring Susan, I contacted all the top bankruptcy lawyers in Boston, but no one responded with the level of uber-professionalism, care, and understanding that Susan did. Believe me, when dealing with bankruptcy, you need an attorney who is respectful of your situation. You need someone upbeat and positive when things are tough. You need someone smart enough to grasp your situation and experienced enough to ask the right questions to get you where you need to be as quickly as possible. You need someone who patiently explains legal concepts and procedures–even repeatedly–until you understand. You need someone who is clear about what you can and cannot do–and doesn’t make you feel like a loser for asking. In short, you need someone who is 100% at the top of his or her game AND someone who is 100% ON YOUR SIDE. You will not find a better bankruptcy attorney for your debt issues than Susan. She’s the kind of lawyer every client wants. And she’s what other lawyers dream they could be. We’re so glad we found her!”

Brandon, a Chapter 7 client

Couldn’t have asked for a better bankruptcy attorney!

“I would recommend Susan Grossberg to anyone looking to file for bankruptcy. She is very knowledgeable and helpful and she is available for you and works on your case all night long. She made me feel very comfortable and always took her time to answer my questions so that I’d understand. If she was not 100% sure about something, she did her research and got back to me. Thank you so much Susan!”

Tara, Chapter 7 bankruptcy client