Attleboro, Massachusetts Bankruptcy Lawyer
Providing solutions to overwhelming debt
Especially in our poor economy, where jobs are unavailable or pay significantly less than previously, mounting debt can begin to feel unmanageable and overwhelming. Attorney Stephen A. Lechter brings the knowledge and skill he has acquired over 35 years to help you take control of your debt so you can take control of your life.
Negotiators of debt relief options
We research the best means for handling your debt, which is not always bankruptcy. When bankruptcy is not your best option, we step in on your behalf to persuade creditors to lower your debt and accept more reasonable monthly payments.
We negotiate loan workouts on behalf of creditors whose debtors are on the brink of Chapter 11 bankruptcy. As a creditor, you certainly do not want your debtors going into bankruptcy court and petitioning to shed their obligations to you. Likewise, your debtors must understand that bankruptcy is truly a last gasp effort for a business to stay open, and should not be filed until all other options have been exhausted. We design those other options. For more than 35 years, we have developed strategies to work out loan obligations so that both sides emerge better off.
We help our clients explore their options for out-of-court workouts. We work closely with business, financial and accounting consultants to determine whether the debtor has a viable business restructuring alternative to Chapter 11. A loan workout may be a better option than bankruptcy when commercial loans, asset loans, SBA business loans and other debts exist.
Protecting the creditor's interests
Our law firm represents creditors during the business reorganization and loan workout process. While our goal is to work with all parties involved to find a consensual solution, we are fully prepared to fight aggressively for our clients when the situation calls for it.
A key to working through debt issues without going into bankruptcy is convincing the debtor to commit to a business restructuring plan. We have the legal knowledge and business acumen to do so, and attorney Lechter will protect your interests throughout the process.
Extensive experience with debt analysis
We truly listen to your needs and thoroughly analyze your case to determine if bankruptcy offers the most effective way to ease your financial burden. We review your debts, income and expenses, and explain the ultimate impact bankruptcy would have on your family, business, home and future credit. We answer all your questions about the bankruptcy process and the outcomes you should expect. Our compassionate approach to dealing with bankruptcy leaves no surprises.
Reprieve through automatic stay
Creditors' aggressive collection methods unfairly compound the stress of escalating debt. You can put an end to the constant harassing phone calls and letters meant to intimidate you into paying debts you cannot afford. As soon as you file for bankruptcy, creditors must immediately stop all collection efforts - including those distressing letters and phone calls. Your attorneys then deal with your creditors so you can regain your peace of mind.
Your bankruptcy options in Massachusetts
Chapter 7 bankruptcy
Chapter 7 bankruptcy is available to individuals and businesses looking to quickly and simply resolve their debts. Provided you pass the court's means test, Chapter 7 bankruptcy grants you relief from debts through the liquidation of your assets. Because many household and personal items are exempt, you can make a fresh start with limited disruption to your life.
Chapter 11 bankruptcy
If you own a business, Chapter 11 bankruptcy permits your business to continue operating while you pay creditors under a reorganization plan. The Chapter 11 option helps you escape debt without losing the business you struggled so hard to build.
Chapter 13 bankruptcy
Chapter 13 bankruptcy enables you to stop your lenders from foreclosing on your home. If you and your spouse have substantial incomes, but a sudden illness, job loss or another unexpected circumstance has interfered with your ability to pay your bills, Chapter 13 bankruptcy permits you to pay debts over time in smaller amounts.