What is a Homestead under Massachusetts Law? If you’re a Massachusetts homeowner, the Massachusetts Homestead Act protects equity up to certain amounts in your home from being liquidated to pay off liens. You must live in your home as a principal residence to qualify...
Educational Articles
What is Probate?
Once you have accumulated any type of significant assets, it is a good time to start estate planning. Most people think about this when they are going through a significant life changes such as purchasing real estate, marriage, birth of children, death and divorce....
The Difference Between Chapter 7 & Chapter 13 Bankruptcy
Most people have heard the terms “Chapter 7” and “Chapter 13” thrown about but are not sure of the difference. Don’t worry – here is what you need to know. Chapter 7 This is what is referred to as liquidation bankruptcy. It is designed to wipe out your general...
What Qualifies a Person for Bankruptcy?
Qualifying for Chapter 7 Bankruptcy — Net Monthly Income in the Red (or close to it) If you are filing a chapter 7 then your net monthly income cannot exceed (by much) your regular monthly expenses. Most people who file chapter 7 are either breaking even (without...