Bankruptcy Questions

Scott Fishman has been helping clients move past financial difficulties for over twenty years.  He has a no nonsense approach and will walk you through the process so that you feel comfortable at every stage.  If you want to unburden yourself from credit card debt, medical bills, overdue mortgage payments and car loans, call him today at  781-337-3999 or email at


What is Bankruptcy?
The federal government allows individuals overburdened by debt, a fresh start by eliminating most debt through a filing with the Bankruptcy Court.

Will I be able to keep my property?
In most cases you will be able to keep everything that you own. In Massachusetts you can keep up to $500,000 of equity in your home.

Can I repay some creditors?
Yes. You can enter what is called a reaffirmation agreement with the creditor. This will allow you to keep your home and car as long as payments are current, or keep a credit card.

What if my mortgage or car loan is in default?
You can bring your loans current through a court authorized repayment plan by filing a Chapter 13 Bankruptcy.

Can Bankruptcy stop foreclosure proceedings or wage garnishment?
Yes. Creditors must stop all collection activity, including foreclosure upon the filing of a Bankruptcy petition.

What happens to my debts after Bankruptcy?
If you are granted a discharge, most of your debts will be eliminated as if you paid them. There are several exceptions to this including student loans, most taxes, and debts procured by fraud.

What happens to lawsuits already filed against me?
After filing bankruptcy all cases are put on hold. A party must seek permission from the bankruptcy court to take any action against you or your property.

How will my credit be affected?
Bankruptcy will appear on your credit report for up to 10 years. Your credit can be rebuilt by applying for secured credit cards or credit from lenders willing to do business with individuals that have filed a bankruptcy.

If you have questions about bankruptcy contact Scott Fishman by email at  or call 781-337-3999