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November 2015 Archives

Understanding Chapter 7 bankruptcy exemptions

Many of the Salem clients who come to us here at The Law Office of Paul Petrillo seeking Chapter 7 bankruptcy protection worry that they could potentially lose everything. If you are considering filing for a Chapter 7 bankruptcy, you should know that the law has provisions which will allow you to retain the items needed to continue to support yourself and your family. Understanding New Hampshire’s bankruptcy exemption policy may help you in deciding whether or not a Chapter 7 will be able to provide you with the sort of debt relief that you need.

Can you qualify to buy a home after bankruptcy?

For many in Salem, homeownership is a dream that they are still chasing. If you count yourself among this group, yet also face overwhelming debt that’s close to driving you to bankruptcy, then you may wonder if your decision to file would permanently bar you from ever qualifying for a mortgage. If so, then that would also preclude the 10,789 other people in New Hampshire who sought bankruptcy protection last year from enjoying the same benefit.

Chapter 7 the only viable option for distressed energy company

When one hears of businesses seeking bankruptcy protection in Salem, the automatic assumption may be that they are filing under Chapter 11. After all, doing so typically allows them to restructure their businesses in hopes of carrying on after their bankruptcy cases have been discharged. However, if a company is unable to find a restricting agreement that is suitable in assisting in the in repayment of debts and then providing a sound structure in the future, than it may be left with little choice but to crease its operations altogether and file for Chapter 7 protection.

Evaluating disability benefits as a form of medical debt relief

Unexpected medical expenses can leave almost anyone in Salem facing dire financial straits. Few may comprehend just how costly medical bills can be, and how quickly they can accumulate. What initially starts out as an injury or illness can leave one requiring years of costly medical treatment. In the face of such mounting debt, it is little wonder why medical bills place such a strain on American households. Indeed, The Council for Disability Awareness reports that medical problems were listed as the primary reason behind 62 percent of all bankruptcy filings in 2007.

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Nashua, NH 03062

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