Massachusetts Bankruptcy Homestead Exemption

good day to everyone. i currently live in MA and have property there,and i am considering to file for Chapter 7 bankruptcy. i need to find out about the homestead exemption in my area.

thank you

The homestead act in your area allows you to be exempt of up to $500,000. That includes property you currently occupy or still intend to occupy. This includes your mobile home

Right, and this amount is over and amount the mortgages that the homeowner has placed on the property. In fact this applies only to your homebase--if you have a vacation home or investment property, you'll have to give it away.

You've said that you're just about to file for bankruptcy. Have you considered other options in taking care of your debts? I mean, there are repercussions for filing for bankruptcy, and I am sure you are aware of these.

what other options do i have? my boyfriend left me and he left me with all his debt that we co-signed. he filed for bankruptcy first and now everything is my responsibility. it's so frustrating.

our debts total $35k in unsecured debt.

Hi Molly, sorry to hear about your situation. Right now, I suggest that you consider debt settlement as an alternative to filing for bankruptcy. Bankruptcy has long term effects on your credit report and you may have to go through some measures before you can get back on your feet.

Debt settlement allows you to pay 40-60% of your current balance in a span of a year to 48 months. The remainder of the debt amount will be forgiven and the debt settlement company will negotiate on your behalf regarding the amount that you need to settle.

You may also feel free to fill out a form on DestroyDebt.com if ever you need further information on these matters. The consultation is free, too.

Massachusetts bankruptcy homestead exemption and more here:

http://www.payingpaul.com/massachusetts-bankruptcy.php