Affordable & Effective Bankruptcy & Debt Relief Lawyers in Essex County
Free Consultations | Law Firm In Business Since 2010 | High-Level Attorney
Hours: Open 9:00 am - Closes 5:00 pm
About Attorney Donald J. MacDonald, Esq.
If you’re exploring debt relief options or facing a bankruptcy issue, Coleman & MacDonald Law Office is here to support you. With over a decade of experience, I, Attorney Don Coleman, am committed to helping you achieve financial freedom. As your bankruptcy attorney representing you, I will work closely with you to provide personalized, award-winning service. Whether it’s you, your family, or a small business experiencing financial hardship in this economy, sometimes filing bankruptcy is the best solution for your most difficult problems.
Donald J. MacDonald, Esq. Partner
(781) 654-5050
don@colemanmacdonald.com
Board-certified in consumer and business bankruptcy
Families across the United States are struggling with debt from home loans, car loans, student loans, and credit cards, contributing to a total of $13.9 trillion. Many feel overwhelmed by debts and bills they can’t manage. That’s where bankruptcy attorneys come in, helping people regain financial stability.
At Coleman & MacDonald, our Massachusetts bankruptcy lawyers are here to assist with your financial challenges. They provide compassionate, clear advice to help you build a better financial future. Our lawyers guide you through filing for bankruptcy, stopping creditor calls, and achieving a fresh start, while helping you retain essential assets. For bankruptcy law help in the Essex County area, please call (781) 205-4735 in Peabody or (413)-224-2286 in East Longmeadow MA.
We can create a personalized plan for you
Chapter 7 Bankruptcy
Chapter 11 Bankruptcy
Chapter 13 Bankruptcy
Business Bankruptcy
Credit Card Debt
Credit Rebuilding
Vehicle Repossessions
School Law
What is bankruptcy and how might it help? (select each topic below to learn more)
Bankruptcy is a legal process designed to provide individuals overwhelmed by debt with a fresh start. It offers an opportunity to discharge or restructure debts without the stigma of public punishment or notoriety. Contrary to common misconceptions, bankruptcy is a compassionate tool society provides to help you move forward by relieving much, if not all, of your financial burden.
In essence, bankruptcy allows individuals to request the Court to discharge certain debts, meaning you are no longer obligated to pay them, or to approve a manageable repayment plan, often involving partial debt repayment. Through this process, you present your financial situation to the Court, typically through electronic documentation, without needing to appear in court. Bankruptcy exists to support you in regaining financial stability.
Bankruptcy treats various debts differently, so a detailed discussion of your situation is best. Generally, credit card debt is often dischargeable, while student loans and recent government debts like taxes are not. Secured loans, such as mortgages, depend on specific factors like the property's value.
Dischargeable debt can be wiped out; non-dischargeable debt cannot. The court also examines recent financial activity for fraud, such as significant purchases before filing. Contact us to address any concerns or questions about your recent transactions.
Types of personal bankruptcies. (select each topic below to learn more)
What Are the Differences Between Chapter 7 and Chapter 13?
- This option clears out eligible debts completely.
- You aren’t required to repay those debts.
- This involves a repayment plan where you pay off some debts over 3 to 5 years.
- After the repayment period, remaining eligible debts are cleared.
- Sometimes, the law requires it if you don’t qualify for Chapter 7.
- A "means test" checks your income. If your family earns less than a certain amount, Chapter 7 might be an option.
- Higher earners may still qualify for Chapter 7 by meeting other test criteria. For help deciding which option is right for you, feel free to reach out!
Chapter 7, often called "Liquidation," involves selling the debtor's assets to pay creditors. However, many people do not lose their belongings. Laws, both federal and state, provide "exemptions" that protect certain items up to specific values. This often allows debtors to keep most or all of their assets. Planning the right exemption strategy is crucial for a successful filing. Usually, Chapter 7 is completed within a few months.
Chapter 13 sets up a repayment plan based on what you can afford, not what creditors demand. The court approves the plan if all disposable income (income after expenses) goes towards it, ensuring creditors receive as much as they would under Chapter 7. The plan lasts 3 to 5 years, and any remaining dischargeable debt is cleared afterward. If your financial situation changes, you can modify the plan.
In Chapter 13, you can benefit from "Lien Stripping" for underwater mortgages. If your home's value is less than the first mortgage and you have a second mortgage, you might be able to treat the second mortgage as dischargeable debt, even while keeping your home. For example, if your home is valued at $190,000, with a first mortgage of $200,000 and a second mortgage of $25,000, Chapter 13 can convert the second mortgage to unsecured debt, dischargeable at the end. Contact us to explore if this option works for you.
Bankruptcy Representation and Services
Free Consultations | Law Firm In Business Since 2010 | High-Level Attorney
Hours: Open 9:00 am - Closes 5:00 pm
Bankruptcy The Process (select each topic below to learn more)
When people think of "courts" and "the law," they often imagine dramatic courtroom scenes with lawyers arguing. While this is true for some legal areas, bankruptcy is different. The process is designed to keep both you and your lawyer (hopefully us) out of the courtroom unless absolutely necessary.
Consider this: In 2020, over 16,000 bankruptcies were filed in Massachusetts, yet there are only five bankruptcy judges for the entire state. It would be impossible for each judge to handle thousands of in-person cases. In reality, most debtors never need to appear in court.
Typically, court appearances are about resolving disputes. In bankruptcy, the process assumes approval unless there's an objection. If an objection arises, it's usually resolved between your attorney and the opposing party without needing a court appearance. Most communications with the court are done electronically, making the process smoother and less dramatic than TV portrays.
In short, bankruptcy is often more straightforward and less intimidating than imagined, and sometimes boring is just what you want!
What normally happens? (select each topic below to learn more)
We'll cover this in-depth when we meet, but bankruptcy involves four main steps. The first is preparation, which includes a one-hour seminar and gathering your financial information—like income, expenses, debts, and assets. This step helps you and us understand your financial situation. You’ll also need to take a short credit counseling seminar to explore any alternatives to bankruptcy. We'll provide a list of approved counseling agencies.
On filing day, all creditor calls and letters must stop, as bankruptcy law prohibits them from contacting you. We’ll gather the day's balances from creditors and review all forms with you to ensure accuracy. Filing is often a relief for many debtors, as it marks progress toward financial freedom.
About a month after filing, there's a "341 Meeting," or "Meeting of Creditors." You’ll meet with a Trustee, not usually the creditors, to confirm your details. These meetings are generally brief, seldom lasting over 10 minutes. Depending on where you live, they’re held in Boston or Worcester. We can drive you there or meet you early to ease any anxiety and ensure you're prepared.
The last step is the Debtor Education Seminar, which is longer than the initial seminar but available in-person, by phone, or online. It's designed to help you manage finances better in the future.
Timeline
Completion times vary, but Chapter 7 typically finishes within three to four months if there are no objections. Chapter 13 gets approved within the same timeframe, but completion takes the entire repayment period outlined in your plan, usually several years.
Contact Us
We aim to guide you through the bankruptcy process with clarity and support. We understand that you’re dealing with a challenging financial situation, and we’re here to help.
Bankruptcy Representation and Services
Free Consultations | Law Firm In Business Since 2010 | High-Level Attorney
Hours: Open 9:00 am - Closes 5:00 pm
Massachusetts Registry of Deeds:
472 Main Street, Acton MA 01720.
(Phone: (978) 929-6621 Fax: (978) 264-9630)
Town of Bellingham Assessor’s Office
Bellingham Municipal Center
10 Mechanic Street, Bellingham, WA 02019
Phone: (508) 657-2862 Fax: (508) 657-2894
Town of Boxborough Assessor
Boxborough Town Hall
29 Middle Road, Boxborough, MA 01719
Phone: (978) 263-1116, ext. 109 Fax: (978) 264-3127
City of Cambridge Assessing Department
Cambridge City Hall 795 Massachusetts Ave, Cambridge, MA 02139
Phone: (617) 349-4110 Fax: (617) 349-4357
Town of Dedham Board of Assessors
Dedham Town Administration Building
26 Bryant Street, P.O. Box 306, Dedham, MA 02026-0306
Phone: (781) 751-9130 Fax: (781) 751-9139
Town of Franklin Assessor’s Office
Franklin Municipal Building
355 East Central Street, 1st Floor, Franklin, MA 02038
Phone: (508) 520-4920 Fax: (508) 520-4923
Town of Medfield Board of Assessors
Medfield Town House
459 Main Street, Medfield, MA 02059
Phone: (508) 359-8505 x622
Town of Medway Board of Assessors
155 Village Street, Medway, MA 02053
Phone: (508) 533-3203 Fax: (508) 321-4979
Town of Millis Board of Assessors
Millis Town Hall
900 Main Street, Millis, MA 02054
Phone: (508) 376-7049 Fax: (508) 376-7055
Town of Norfolk Assessors
Norfolk Town Hall
One Liberty Lane, Norfolk, MA 02056
Phone: (508) 528-1120 Fax: (508) 541-3322
Town of Wrentham Assessors
Wrentham Town Hall
79 South Street, Wrentham, MA 02093
Phone: (508) 384-5408 Fax: (508) 384-1374
To schedule a free initial appointment, call us at:
Peabody, MA: (781) 205-4735
East Longmeadow, MA: (413) 224-2286
Or complete our Free Consultation Form. We’re here to support you during this difficult time.
What to Bring:
While not required, bringing recent pay stubs and credit card statements to your initial meeting can be helpful. Our attorneys are highly experienced in Bankruptcy law, effective, and dedicated to helping you get a fresh financial start.
