Make Notes On Legal Massachusetts Bankruptcy Forms For Free

A Chapter 7 bankruptcy can stay on your credit report for up to 10 years from the date the bankruptcy was filed, while a Chapter 13 bankruptcy will fall off your report seven years after the filing date. After the allotted seven or 10 years, the bankruptcy will automatically fall off your credit report.

The person filing for bankruptcy is the one who pays for the bankruptcy, either the individual or the creditor in a forced bankruptcy.

This record will be available to anyone in the court at the time of the ruling or anyone that has access to bankruptcy rulings and information. The big difference in Massachusetts is that anyone who usually does not have access to this information has to have a PACER account to look it up.

The Bankruptcy Court charges filing fees: $335 for Chapter 7 bankruptcy. You can ask to waive the fee if your income is lower than 150% of the federal poverty guidelines and you cannot afford the fee or you can ask to pay it in 4 smaller payments called installments.

When the bankruptcy court issues a discharge, you are relieved of your liability to pay back the listed debts. That means creditors no longer have a legal claim against the debts, so they cannot pursue any collection activity, take any legal action, or even communicate with you.

There is a $338filing fee for Chapter 7 bankruptcy. You need to pay this or apply for a waiver or to pay in installments when you submit your bankruptcy petition. If your income falls below 150% of the state poverty guidelines, you may be eligible for a fee waiver.