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Can I Save on Legal Fees and File For Bankruptcy with a Paid Preparer?

Of course, however, why do this?  A paid bankruptcy preparer has a very limited scope.  A lawyer, on the other hand, will know if you need to file, will present you with various options, and knows where he or she doesn’t know the law so will protect you by researching what to do.  A lawyer will charge a fair amount and is regulated by the state board of bar overseers.  A lawyer will sign an affidavit on the Bankruptcy Petition and Schedules as to what he or she charged, and will inform you of any problems to anticipate. Read more

Massachusetts Bankruptcy is Down and Medical Debt is One Reason

Will the new health care law, the Affordable Care Act (aka Obamacare) reduce bankruptcy?  A recent study undertaken by the Chicago Federal Reserve bank showed that Massachusetts bankruptcies are down 20% because of the Massachusetts health care law (aka Romneycare).

Apparently, the US is unique in the developed world in that medical billing is a leading cause of bankruptcy filing.  It is not clear that this was ever true in Massachusetts, however.  Nevertheless, the fact that bankruptcies are down, is good! Read more