At Logan A. Weinkauf, P.C., we help people discover debt relief options that help them get a fresh start after a financial crisis. We can assist you in filing for bankruptcy in Massachusetts. Our Barnstable County bankruptcy lawyers also assist clients with tax matters, debt settlement, wage garnishment, and much more.
Our dedicated team of lawyers and legal professionals understands how overwhelming being in debt can be for someone. We are here to help you find the best solution to your debt problems. Whether you need a fresh start in a Chapter 7 bankruptcy or you need to reorganize your debts into an affordable Chapter 13 plan, we’ll help you take control of your debt so you can recover and rebuild for a better financial future.
Financial distress can happen suddenly, and it can happen to anyone. At Logan A. Weinkauf, P.C., our Barnstable County bankruptcy lawyers have extensive experience handling all types of bankruptcy matters. Our primary bankruptcy practice areas include:
Overview of Chapter 7 Bankruptcy in Barnstable County, MA
Chapter 7 bankruptcy is also known as a liquidation bankruptcy. For that reason, many people assume you lose everything when you file Chapter 7. However, bankruptcy exemptions protect a lot of the debtor’s property. Most Chapter 7 cases are no-asset cases, meaning the debtor does not lose any of their property.
It is designed for individuals who do not have the income or means to repay their debts. Businesses can also file Chapter 7, but doing so ends the business. The business assets are liquidated to pay creditors.
In a Chapter 7 bankruptcy, you can discharge most of your unsecured debts, including credit cards, medical bills, and some old tax debt. However, you cannot discharge newer tax debts, child support, alimony, or student loans.
Chapter 7 is a quick process, usually completed within three to six months. During the bankruptcy case, the automatic stay prevents creditors from taking any actions to collect debts, including garnishing your wages, filing collection lawsuits, and making harassing phone calls. Once you complete the bankruptcy case, creditors cannot pursue you for discharged debts.
Because some Chapter 7 debtors could have non-exempt property that a Chapter 7 trustee could seize and sell, you should consult an experienced Barnstable County Chapter 7 bankruptcy lawyer to discuss your specific situation. If Chapter 7 is not your best option, you might consider filing under Chapter 13.
Overview of Chapter 13 Bankruptcy in Barnstable County, MA
A Chapter 13 bankruptcy is a court-monitored reorganization plan. It is available to individuals and married couples. The debtor pays monthly payments to a Chapter 13 trustee appointed by the court. The trustee pays creditors according to the confirmed Chapter 13 plan. When you complete your bankruptcy plan, the remaining unsecured debts are discharged.
The benefits of filing under Chapter 13 include, but are not limited to:
- Preventing foreclosure by including the past-due mortgage payments in the plan
- The potential for lowering the interest rate and/or car payment for your vehicle by including it in the plan
- Pay past-due alimony and child support payments through the plan
- Include non-dischargeable taxes in the plan
- Protect assets that would be non-exempt in a Chapter 7 bankruptcy
Chapter 13 is called a wage earner plan. You must have an income to fund the plan to qualify for Chapter 13. Your Chapter 13 plan payments are based on several factors, including your income, expenses, debts, and assets. Chapter 13 plans are usually 60 months, but some debtors qualify for 36-month plans.
A Chapter 13 case is complex. An experienced Barnstable County bankruptcy attorney can help you understand your responsibilities as a Chapter 13 debtor while working to protect your assets and keep your plan payment as low as possible.
Overview of Chapter 11 Bankruptcy in Barnstable County, MA
Chapter 11 bankruptcy cases allow businesses to recognize their debts to continue operating. It also is used by certain individuals whose debts may exceed the Chapter 13 limits. Chapter 11 cases are mainly used by large and small businesses because Chapter 11 is more flexible and allows for larger debt limits.
Chapter 11 creditors vote on the proposed Chapter 11 plan. There must be sufficient votes in favor for the plan to be confirmed. This requirement encourages the debtor to negotiate a fair plan with the creditors. Creditors are encouraged to negotiate and approve a plan because they will likely receive more money through the Chapter 11 plan than through a Chapter 7 liquidation.
Chapter 11 cases are more complex and costly than Chapter 7 or Chapter 13 cases. However, a Chapter 11 bankruptcy can save a business from going under and preserve jobs. It also creates a new, legally binding contract with the creditors via the confirmed Chapter 11 plan.
Our Barnstable County Bankruptcy Attorneys Help You With Other Debt Relief Matters
At Logan A. Weinkauf, P.C., our Barnstable County bankruptcy lawyers have experience in a wide range of services related to debt relief and bankruptcy. Other practice areas include:
- Eliminate Second Mortgages in Chapter 13 – You might be able to value your second mortgage at “zero” in your Chapter 13 case. If so, the balance becomes an unsecured debt that is discharged at the end of the case.
- Asset Prevention – We help people protect their assets from debt collectors, including homes, vehicles, and income.
- Debt Relief – Our Barnstable County bankruptcy lawyers work with clients on various debt relief options, including debt consolidation, debt settlement, credit counseling, and bankruptcy. Our attorneys also work with clients who need help with wage garnishments, lien release, and credit repair.
- Tax Relief – Owing money to the Internal Revenue Service, the Commonwealth of Massachusetts, or other taxing authorities can be frightening. Our Barnstable County bankruptcy lawyers can help you obtain tax relief through offers in compromise, installment agreements, and bankruptcy.
- Foreclosure Defense – There are several ways to fight a foreclosure action. Foreclosure defense can include filing bankruptcy to stop a foreclosure sale. However, it could also include negotiating a loan modification, working with the lender for a short sale, and taking other steps to avoid foreclosure.
- Debt Collector Harassment – Creditor and debt collector harassment can cause severe stress when you are trying your best to pay your debts. Our Barnstable County bankruptcy attorneys help you stop debt collector harassment and obtain protection by developing a plan to resolve your debt problems.
Contact Our Barnstable County Bankruptcy Lawyers for a Consultation
You do not need to struggle to pay debts you cannot afford to pay. There is a way to eliminate debt and move forward. Filing bankruptcy could be the lifeline you have been hoping and searching for as you struggle to make ends meet. Call Logan A. Weinkauf, P.C., to schedule an initial consultation with an experienced Barnstable County bankruptcy attorney. We provide confidential, compassionate, and trusted legal advice and guidance as you explore your debt relief options in Massachusetts.