Basics of Bankruptcy Law in Massachusetts

The two most common forms of bankruptcy filed in Massachusetts by individuals are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Of these two forms of bankruptcy, Chapter 7 is by far the most common reason that a person files for bankruptcy in Massachusetts. In 2019, 4,917 people filed for bankruptcy under Chapter 7 and 2,606 people filed for Chapter 13.

Interestingly, the total number of individuals filing for bankruptcy has been on a steady decline from 2010 to 2019 by a rate of nearly 60% fewer filers according to the American Bankruptcy Institute. However, the economic aftermath of the effects of Covid-19 threatens to change what has been a largely positive reduction in bankruptcy filing rates.

Why Hire an Attorney to File Bankruptcy?

While it is entirely possible to file for bankruptcy on your own, it is not advisable. It has been said that an attorney who represents himself has a fool for a client. This same adage applies to filing for bankruptcy on your own. Bankruptcy in Massachusetts is a complex process. There are many exceptions that one must be aware of in personal bankruptcy, there is the specter of fraud that must be avoided, and many other pitfalls that await the individual filing for bankruptcy while representing themselves. It is far better to hire an attorney with the proper training and understanding of the ins and outs of the United States Bankruptcy Court and the laws applicable to bankruptcy filing in Massachusetts.