Bankruptcy:

Eliminate your debt. Stop collection calls.
File Bankruptcy and Get a Fresh Start!
Pay only $900. This includes filing fees and credit reports. It will be the best $900 you'll ever spend.

Call 888-637-9415 or 978-970-2211 today for your initial FREE consultation!

Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is where you eliminate all non-secured debts. Chapter 7 Consumer Liquidation Bankruptcy applies when the monthly payment on all personal overhead (rent/car payment/utilities/groceries) exceeds your take home income. You will keep your home and your car under the current state of the law (these are called bankruptcy exemptions). You will want to have a skilled bankruptcy attorney to help so you don't lose anything.

Chapter 13 Bankruptcy

Chapter 13 Bankruptcy is all about forcing creditors to negotiate with you subject to a bankruptcy trustee's approval. Chapter 13 Bankruptcy forces creditors to settle up for dimes on the dollar. Once again, you take control and you set forth a Chapter 13 Bankruptcy plan that you can work with. Chapter 13 Consumer Bankruptcy applies when your income exceeds your monthly personal overhead to some extent such that you are able repay some portion of the debt back. Once again, however, recognize Chapter 13 Consumer Bankruptcy puts you back in control.

Getting Credit After Bankruptcy

Will I get credit offers after my bankruptcy ? You will get offers of credit after bankruptcy. Some clients have been very concerned about the state of their credit after filing bankruptcy. It is a fact: a bankruptcy entry will appear on your credit report for 10 years following the discharge. This does not mean that you will not get a credit card, buy a home, or car for 10 years. Far from it; remember: creditors want you to borrow.

Shortly after your bankruptcy discharge, we can almost promise that you will receive a credit card offer to help you get back on your feet. The fact is, you no longer have the majority of your debt; you have an ability to repay (income is freed up), and you can't declare bankruptcy (Chapter 7) again for six years. Further, the probability of a consumer declaring bankruptcy a second time in their lifetime is low (it does happen, but after most people do it once, they change their habits)

Mortgage After Bankruptcy

Can I Buy A House or Car After Bankruptcy ? Yes! You can buy a house after bankruptcy. A home loan is up to the discretion of the lender, obviously. However, many of them want your business. They may charge you a higher interest rate or points on your loan, but it certainly is possible to get a loan for a house after bankruptcy. How long? Figure on waiting at least two years: the bankruptcy will still be there on your record, but it will be a diminished factor which they consider as long as the house provides a good basis for their security.

We are a debt-relief agency. We help individuals and businesses file for relief under the U.S. Bankruptcy Code.

We also speak Spanish and Chinese

About the Firm:

Words from the Founder: When I opened my law practice in 1987, my first goal was simple—LISTEN. So I did. I listened to the needs of my clients. I listened to their concerns regarding their prior dealings with the legal system. The result: I have developed my firm into a successful law practice that maintains the highest standards of ethics and service to our clients. I speak fluent Spanish personally. Over the past seventeen years I have employed a team of attorneys and legal assistants that share my vision.

Hablamos Espanol

Palma Law Offices, P.C. 

Toll Free 888-637-9415 or Local (978) 970-2211      
E-Mail: palmalaw@comcast.net

790 Turnpike Street, Suite #202, No. Andover, MA 01845
 45 Merrimack Street, Suite #330, Lowell, MA 01852