Bankruptcy
Serious financial difficulty requires honest counsel. We represent individuals and small businesses in bankruptcy proceedings, helping clients understand their options and navigate the process with as little disruption to their lives and livelihoods as possible.
Individual Bankruptcy
Chapter 7 liquidation bankruptcy offers a fresh start for individuals whose debts have become unmanageable. Chapter 13 allows individuals with regular income to restructure and repay debts over time while protecting their assets. We help clients understand which path makes sense for their situation.
Business Bankruptcy
For small businesses facing insolvency, we counsel clients on Chapter 7 business liquidation and Chapter 11 reorganization, as well as non-bankruptcy alternatives including assignment for the benefit of creditors and out-of-court workouts.
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 Scott today at 781-337-4221, ext 204 or email at scottfishman@jenningsfishman.com
Frequently Asked Questions
The federal government allows individuals overburdened by debt, a fresh start by eliminating most debt through a filing with the Bankruptcy Court.
In most cases you will be able to keep everything that you own. In Massachusetts you can keep up to $1,000,000 of equity in your home.
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.
You can bring your loans current through a court authorized repayment plan by filing a Chapter 13 Bankruptcy.
Yes. Creditors must stop all collection activity, including foreclosure upon the filing of a Bankruptcy petition.
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.
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.
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.