Professional Business & Personal
Bankruptcy Lawyers in Essex County
Need help in dealing with overwhelming debt?
Contact Our Experienced Bankruptcy Attorneys with 35 Years of Experience
If you or your family needs help with bankruptcy in Essex County, contact Coleman & MacDonald today. If you owe more than you own and can’t keep up with your bills, bankruptcy may be the best solution. Because bankruptcy laws are complicated, having an experienced attorney—like those at Coleman & MacDonald today—is important. Our attorneys will guide you through the process, help you understand your options, and choose the right path for your situation.
Don’t wait—take the first step to a fresh start today!
Our bankruptcy attorneys handle a broad range of legal matters, including intellectual property and litigation services. We also offer legal services in real estate law, bankruptcy, personal injury, civil litigation, trademark law, patents, and estate planning.
Our offices in Peabody and East Longmeadow proudly serve clients in Salem, Beverly, Danvers, Lynn, Lynnfield, Marblehead, Swampscott, Middleton, Saugus, and Wakefield, as well as throughout Essex County, Massachusetts.
Donald J. MacDonald, Esq. Partner
(781) 654-5050
don@colemanmacdonald.com
Understanding Your Bankruptcy Options
Chapter 7 Bankruptcy: Also known as ‘straight bankruptcy,’ Chapter 7 allows you to keep specific property such as your primary residence, a car, and necessary personal belongings, thanks to legal ‘exemptions.’ Anything you own that’s above these exemption limits may be sold to help pay your creditors. Our goal is to help clients using Chapter 7 discharge their qualifying debts quickly so they can get a fresh start and move forward with their lives.
Chapter 13 Bankruptcy: Often called the “wage earner’s plan,” Chapter 13 is designed for people with regular income. In this type of bankruptcy, you plan to repay some or all of your debts over three to five years. Chapter 13 is a shield that can help you save your home from foreclosure and may also eliminate or reduce second mortgages and tax debts. We’ve helped many clients use Chapter 13 to protect their assets and regain financial stability.
Attorneys Leading the Way in Bankruptcy Solutions
At Coleman & MacDonald, we are dedicated to protecting our bankruptcy clients’ legal rights. By combining the latest technology with in-depth knowledge of bankruptcy law, we strive to achieve the best possible results for every case. We keep you updated on each process step so you always know what’s happening and can make informed decisions. Your success is how we measure our own, and we work tirelessly to help you achieve the financial restart the bankruptcy laws are designed to provide.
$1,499 Bankruptcy $0 Down Affordable Bankruptcy Options
Contact Us Now For Your Free Consultation
Chapter 7 Bankruptcy Attorneys Help People Get Rid of Debt North Andover Lawyers
Who Can File for Chapter 7 Bankruptcy?
Not everyone can file for Chapter 7. The court will look at how much money you make and how much you spend, using something called the “means test.” This test compares your income to the average income in Massachusetts. You may not qualify for Chapter 7 if you earn too much, but you can file for Chapter 13 bankruptcy East Longmeadow, MA 01028 instead. We can help you determine if Chapter 7 Peabody, MA 01960 is the right choice.
What Happens to Your Stuff in Chapter 7?
Chapter 7 usually means selling some of your things to pay back your debt. Some laws protect certain things—like your car, clothes, and tools for your job—so you get to keep them. Our lawyers will explain which of your belongings are protected so you don’t lose more than you have to. Ultimately, the court will erase, or “discharge,” many of your remaining debts. However, some debts, like child support, student loans, recent taxes, and court fines, cannot be erased. We’ll ensure you understand precisely which debts will go away so you can decide if Chapter 7 is your best choice.
Our Massachusetts Attorneys Manages Chapter 11 Bankruptcy’s
Understanding the Chapter 11 bankruptcy process in Essex County
Chapter 11 bankruptcy case Peabody, MA 01960 can take anywhere from a few months to two years to resolve. During that time, owners continue to operate the business as “debtors in possession,” unless the court detects fraud, dishonesty, incompetence, and gross mismanagement that necessitates the appointment of a trustee.
Skilled attorneys for distressed businesses in Essex County, MA.
Coleman & MacDonald can help guide your through the Chapter 11 bankruptcy process to keep your business viable while you develop fresh strategies for future growth. Often referred to as “reorganization bankruptcy,” Chapter 11 East Longmeadow, MA 01028 permits your business to operate while you pay creditors a fraction of what you owe under a court-ordered payment plan. Once your business has filed for bankruptcy, creditors must immediately stop collections efforts, including harassing letters and phone calls.
Contact an experienced bankruptcy attorney for your Chapter 11 filing
The Massachusetts Bankruptcy Court or the trustee makes major decisions for the debtor while the business remains in bankruptcy. Such matters might include:
- Sale of assets, except for items of inventory
- Entering into or breaking a lease for property or equipment
- Mortgages or other secured financing arrangements for borrowing during the bankruptcy
- Discontinuing or expanding operations
- Modifying union, vendor, licensing, and other contracts
- Fees and expenses to attorneys and other professionals
Bankruptcy Representation and Services
Free Consultations | Law Firm In Business Since 2010 | High-Level Attorney
Hours: Open 9:00 am - Closes 5:00 pm
Helping sole proprietors and partners protect their personal assets
Helping sole proprietors and partners protect their personal assets
The owner of a sole proprietorship does not have an identity separate from the business, so the bankruptcy court does not distinguish between the business’s assets and the owner’s personal assets. The filing of Chapter 11 bankruptcy places the owner’s assets at risk. Coleman & MacDonald in North Andover can develop successful strategies to protect your personal assets from your business creditors, while putting your business in the best possible position to succeed going forward. District of Massachusetts | United States Bankruptcy Court
Although creditors have a voice in approving or rejecting a Chapter 11 plan, the court has the final say, and decides to confirm a plan based on requirements that include:
- Feasibility
- Good faith
- Best interests of the creditors
- Fairness and equity
Chapter 13 Bankruptcy Attorneys Help You Keep Your Home
North Andover Bankruptcy Lawyers Guide You Through Repayment
If you’re worried about losing your home due to overwhelming debt, Chapter 13 bankruptcy may be the solution you need. Chapter 13 can help you keep your home, lower monthly payments, and discharge qualifying debts.
If you have a steady job but struggle to pay your bills or keep up with your mortgage, Coleman & MacDonald is here to help. Our experienced Chapter 13 bankruptcy attorneys will guide you through the process. With Chapter 13 bankruptcy, you can pay off part of your debts over three to five years with a court-approved repayment plan. After you complete the plan, many of your remaining qualifying debts can be discharged, giving you a fresh start. You can file individually or jointly with your spouse, and the process works like a loan consolidation—combining your debts into one affordable monthly payment.
How Chapter 13 Helps Save Your Home from Foreclosure
One significant benefit of Chapter 13 is that it can prevent home foreclosure. As soon as we file your Chapter 13 petition, an automatic stay is issued by the court, which is a legal order that immediately stops foreclosure and other collection actions. You then have the chance to catch up on missed mortgage payments through your repayment plan, allowing you to keep your home. At Coleman & MacDonald, we have extensive experience helping clients prevent foreclosure and will work hard to protect your most important asset during bankruptcy.
Restructuring Debt Payments and Protecting Co-Signers
Chapter 13 bankruptcy isn’t just about managing your debts—it’s also about protecting the people who matter most to you. This type of bankruptcy allows you to reorganize secured debts, like car loans and mortgages, so you can pay them off over a longer period with lower monthly payments. Even more, Chapter 13 can help protect co-signers or co-debtors, so your business partners or family members aren’t put at risk because of your financial situation. Our attorneys will carefully review your finances and create a personalized plan that takes your unique needs—and your loved ones—into account.
Chapter 13 bankruptcy isn’t just about managing your debts—it’s also about protecting the people who matter most to you. This type of bankruptcy allows you to reorganize secured debts, like car loans and mortgages, so you can pay them off over a longer period with lower monthly payments. Even more, Chapter 13 can help protect co-signers or co-debtors, so your business partners or family members aren’t put at risk because of your financial situation. Our attorneys will carefully review your finances and create a personalized plan that takes your unique needs—and your loved ones—into account.
Contact our experienced bankruptcy attorneys
If you’re at risk of losing your home or other property and are considering bankruptcy, contact Coleman & MacDonald. We offer confidential and thorough guidance on your eligibility, possible alternatives, and the pros and cons of filing for bankruptcy, so you can make the best decision for your situation.