You may have never imagined filing for bankruptcy. But many life events can lead honest, hardworking people overwhelmed with debt to consider bankruptcy protection. In Massachusetts, state and federal laws provide options for people to get a fresh start. Bankruptcy, however, is a serious legal matter. You should carefully weigh this decision and discuss the pros and cons with a bankruptcy attorney.
If you qualify for Chapter 7 bankruptcy protection, a trustee sells your assets to pay your creditors. As soon as you file for bankruptcy, collection activity immediately stops. If your petition for bankruptcy fails, the collection calls may start again.