Debtor & Creditor

Finding Solutions for Financial Distress and Recovery

Financial difficulties are among the most stressful challenges a person or business can face. In our society, debt is often surrounded by a sense of stigma or shame, but the reality is that financial trouble can happen to anyone. A sudden medical emergency, the loss of a job, a divorce, or an unexpected shift in the economy can quickly turn a stable financial situation into a crisis. At the law office of Kenneth D. Bilodeau, we believe that you should not be defined by your debt. We approach Debtor & Creditor law with a non-judgmental, compassionate mindset. Our primary goal is to help you regain control of your financial life. Whether you are an individual feeling crushed by credit card bills or a small business owner struggling to collect payments from clients, we provide the legal tools necessary to resolve these issues and move forward.

For individuals facing overwhelming debt, the constant pressure from creditors can be paralyzing. The phone calls at dinner time, the threatening letters, and the fear of wage garnishment can take a toll on your mental health and your family life. The first thing we do when you come to us is listen to your story and analyze your full financial picture. We want you to know that you have rights. Federal and state laws, such as the Fair Debt Collection Practices Act, protect you from harassment. Creditors are not allowed to threaten you, call you at unreasonable hours, or lie to you. We can step in as your representative, meaning the phone calls stop, and all communication must go through our office. This immediate relief often gives our clients the breathing room they need to think clearly about their next steps.

One of the most powerful tools available for debt relief is bankruptcy, yet it is often the most misunderstood. Many people view bankruptcy as a failure, but we view it as a legal safety net designed to give honest people a fresh start. It is a constitutional right intended to prevent you from being a servant to debt forever. We guide you through the complexities of Chapter 7 and Chapter 13 bankruptcy. Chapter 7, often called “liquidation,” allows you to wipe out unsecured debts like medical bills and credit cards, often within a few months, allowing you to hit the reset button. Chapter 13, on the other hand, is a reorganization plan. It is ideal for those who have fallen behind on mortgage or car payments and are facing foreclosure or repossession. Through Chapter 13, we can help you stop the foreclosure process immediately and create a manageable three-to-five-year repayment plan to catch up on what you owe while keeping your assets. We carefully evaluate your income and assets to recommend the path that best suits your goals.

However, bankruptcy is not the only solution, and for some clients, it may not be the right choice. We also offer aggressive debt negotiation and settlement services. If you have a lump sum of cash available, or if we can negotiate a payment plan, we may be able to settle your debts for significantly less than what you owe. Creditors are often willing to take a reduced amount to close an account rather than risk getting nothing if you file for bankruptcy. We handle these negotiations for you, ensuring that any agreement is in writing and legally binding so the debt cannot come back to haunt you later. We also review the validity of the debts being claimed. In the world of debt buying, paperwork often gets lost. If a creditor cannot prove they own your debt or that the amount is correct, we fight to have it dismissed entirely.

On the other side of the coin, we also represent creditors. Small business owners, landlords, and independent contractors are the backbone of our local economy, and they deserve to be paid for their work. Nothing is more frustrating than completing a job or providing a service only to be ghosted by a client. Cash flow is critical, and unpaid invoices can jeopardize your own business. We assist creditors in recovering legitimate debts through professional and legal means. We start with demand letters that clearly outline the legal consequences of non-payment, which is often enough to prompt action. If payment is not made, we are prepared to take the matter to court, obtaining judgments and utilizing post-judgment collection methods such as wage garnishment or bank levies to recover the funds. We help you navigate this process while ensuring strict compliance with consumer protection laws to avoid counter-claims.

We also assist with the complex issues surrounding secured debts. If you are a lender who needs to recover collateral, or a borrower facing the repossession of a vehicle or equipment, we understand the laws governing these actions. We can help negotiate “work-out” agreements that allow a borrower to keep the property in exchange for modified loan terms, a win-win situation that avoids the cost and hassle of repossession and auction.

At the end of the day, Debtor & Creditor law is about balance and fairness. It is about honoring obligations where possible but acknowledging that life is unpredictable. If you are drowning in debt, we offer you a lifeline and a path to stability. If you are owed money, we offer you a sword to protect your livelihood. At Kenneth D. Bilodeau ATTY, we provide honest, straightforward advice to help you navigate the choppy waters of finance. Let us help you close the book on your financial stress and start a new chapter of prosperity.