The circumstances that lead to personal bankruptcy are never easy. Frequently, expensive medical care is to blame. Perhaps a business didn’t meet its financial goals, or maybe a person lost their job and couldn’t keep up with the bills. In some situations accidents or even natural disasters can lead to insurmountable credit problems. However, filing […]
If you live in Maryland and are facing serious credit problems, you might be considering filing for bankruptcy. Federal law changed in 2005, and it is important to be aware how these changes affect anyone considering bankruptcy filing. As you can see below, the steps to filing for bankruptcy in the State of Maryland are […]
Due to the complexity of bankruptcy law, there are attorneys that focus their practice on bankruptcy. For personal bankruptcy, you are not required by law to have legal representation. However, the smart thing to do in complex situations is get professional help. Stress Relief One of the most important jobs of the bankruptcy attorney is […]
If you are at or nearing the point of declaring personal bankruptcy you may be feeling scared, confused, angry, or sad. The information available in the media and advice you may get from friends and family is overwhelming and much of it negative. What follows are some of the common myths of bankruptcy and the […]
Like a lot of folks who start trying to rebuild credit after bankruptcy, you might be thinking of wiping your hands clean of credit. And it might make sense that the fastest way to move past the bankruptcy is to stop relying on the loans and credit cards that precipitated the bankruptcy. 1. But contrary […]
Chapter 7 bankruptcy allows people to eliminate their unsecured debt entirely, there is no payment plan. In order to be eligible for Chapter 7 bankruptcy you must meet income requirements and property requirements. In other words, you cannot make too much money and you cannot have too much property. Those limitations are very high, so […]
We represent hundreds of Maryland residents in Chapter 7 and Chapter 13 bankruptcy’s each helping them eliminate their debt and save their property. Eliminating debt, however, is only half the battle. The question that all of my bankruptcy clients ask is “will I be able to get credit again after I file bankruptcy?” And the […]
The past few years have forced many residents of Baltimore and surrounding areas of Maryland to rely more heavily on debt to finance everyday needs and expenses. Many have seen their debt increase in the form of credit card debt, student loan debt or mortgage debt because all to often today, your house has lost […]
If you are unable to pay a debt, the course of last resort for a creditor is to garnish your wages, meaning money is taken out of each paycheck and given to creditors. It is possible for you to stop wage garnishment.
When filing for bankruptcy, there is a way to get rid of a mortgage loan. There are two types of bankruptcy; Chapter 7 and Chapter 13 that take into account different types of mortgage debt. What is a mortgage? A mortgage is a loan; it is a legal agreement signed through a bank or other […]
