April 2014
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Greetings! 

Happy Spring!  Although there was a reminder of winter this week it appears that the cold and snow are finally leaving. 

I am looking forward to Easter with my family on Sunday.  I love  the smiles on my children's faces when they are hunting for the eggs.

I will be out of the office from April 19, 2014 until April 24, 2014.   I will be returning calls during this time.

Robert 
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Filing for Chapter 13 Bankruptcy Can Stop Foreclosure


If you are facing foreclosure, you will want to explore all the options available to you to keep your home. Some financial solutions might include filing for loan forbearance or negotiating a modification on your loan. However, if these options are not possible, you should consider filing for Chapter 13 Bankruptcy.

 

How can Chapter 13 stop foreclosure?

 

Once you file for bankruptcy, the Automatic Stay is in force which effectively stops all foreclosure proceedings in its tracks.

 

Chapter 13 bankruptcy lets you reorganize or manage your debt. It allows you to keep your home, and arrange a new repayment plan with your creditors. In some plans, you must pay your current mortgage plus whatever you owed during default, for the agreed period--sometimes up to five years. While other plans you may continue to work towards a modification, sale of your home or other solutions.

 

You can take advantage of this new period to refinance your loan, or modify it according to terms you can better afford. You might even consider selling your home. This period can buy you time to consider various options for your financial future.

 

Who is Eligible for Chapter 13?

 

Not everyone can qualify for Chapter 13 filing. There are two main conditions. First, you must prove that you have enough income to pay the amount agreed in the repayment plan. Second, you should not have more than $1.15 million in secured debt, and no more than $383 thousand in unsecured debt.

 

How can you file for Chapter 13?

 

There are a number of steps involved in filing for bankruptcy under Chapter 13. These include mandatory credit counseling, a meeting of creditors, as well as a hefty dose of paperwork and documentation.

 

If you think Chapter 13 is a valid option for you, consult an experienced bankruptcy and foreclosure lawyer. At the Law Office of Robert W. Kovacs, we offer caring legal assistance for debt relief, bankruptcy and foreclosure in Framingham, Worcester or the surrounding areas in Massachusetts.


 

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Alimony payments after cohabitation or remarriage in Massachusetts


Alimony is often a contentious issue in a divorce, and when a married couple splits they often don't agree on whether alimony is at all justified or what amount is fair. A new law that went into effect in Massachusetts in early 2012 established different limits on alimony that depend on a number of factors, with the length of the marriage among the most important determinations. Other key factors include the ability of the spouses to support themselves, their age, their economic contributions to the household (including one spouse making sacrifices to support the other's career or education), and their current lifestyle.

Alimony arrangements may be subject to modifications as well. One of the most important changes of circumstances is when the recipient of the alimony takes up with a new partner. A "complaint for modification of alimony" may then be filed, leading the court to review the current alimony agreement and change it as needed.

 

Cohabitation

 

When the ex-spouse who is receiving alimony cohabitates with a partner, their alimony payments may be reduced, suspended for some temporary duration, or even completely stopped. How is cohabitation defined? It involves at least three months of continuously residing in the same residence with a new partner. In order to get an alimony modification in these circumstances, the ex-spouse paying out the alimony needs to prove to the court that 1) the cohabitation really has been continuous for the minimal duration required; and 2) the cohabitation arrangement is financially beneficial, such that the spouse receiving the alimony doesn't require these payments, at least for as long as the cohabitation lasts. It's not always easy to prove these two points conclusively to the courts; cohabitation isn't as straightforward as remarriage.

 

Remarriage

 

In most circumstances, when the spouse who's receiving alimony remarries, they can no longer collect alimony. However, there are some relatively rare cases where a spouse can continue receiving alimony even after remarriage. In most cases, they'd have to demonstrate unusual economic hardship - not simply a change in lifestyle from what they were accustomed to, but a persistent financial struggle; this may come about if they have a disability, for instance. However, if the courts do terminate alimony following a remarriage, if this new marriage ends then alimony payments won't start up again - not unless there was some explicit written agreement made to this effect during the divorce proceedings.

 

Whether you're paying out alimony, or receiving alimony, be sure to contact expert divorce attorneys to discuss your concerns about alimony in a case of cohabitation or after remarriage. We'll be able to give you advice and advocate for you in court to receive a fair outcome.