Bankruptcy Lawyer Peabody, MA


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Bankruptcy Attorney

Serving Peabody and Lynn, MA

Filing for bankruptcy is a viable option to help protect assets when debt has gotten out of control. The Law Office of Theodore S. Collatos can help residents and businesses in Peabody and Lynn, Massachusetts take steps to prepare and learn what the costs and benefits of bankruptcy might be in their unique situation.

You can count on us for compassion, understanding, personal service, and representation tailored to your needs. We work side by side with you, taking the time to go over all of your finances and discuss your options.

There are ways to apply federal and state protections and make Chapter 7 work for you. However, if your gross income is above the median income of the state in which you reside, you cannot file for Chapter 7. There are other options available to you. It's essential to follow the advice of an experienced bankruptcy attorney so you receive the best protection possible.

Filing Chapter 13 with a Bankruptcy Lawyer

Bankruptcy filing under Chapter 13 is more complicated. The process is longer, and there is a great deal of personal responsibility for debt relief. Experienced bankruptcy lawyer Theodore S. Collatos can guide you through this process will make your filing much easier to manage. Under Chapter 13:

  • You must propose repayment plan to a bankruptcy judge.
  • If approved, the judge decides on a three or five-year repayment.
  • Any remaining unsecured debt could be discharged after repayment ends.
  • By placing arrears into the repayment plan, you can continue making home payments and stop foreclosure proceedings.

Bankruptcy Lawyer Theodore S. Collatos has 35 years of experience providing debt relief by helping people file under the Bankruptcy Code--Chapter 13 and Chapter 7. The initial consultation is free and we can meet you evenings or on weekends. By contacting the Law Office of Theodore S. Collatos you can ensure that you are taking the best steps to protect you and your family.

We know that you will have many questions and we will guide you through the process. We will also represent you before a bankruptcy judge. In this troubling economy, it is possible for anyone to get behind. Please contact our office to discuss your needs.