Maryland residents are faced with a choice of what kind of bankruptcy to file when they run into financial difficulties. The two primary types of bankruptcy each offer their own advantages. Chapter 7 gives you a near-complete debt discharge Chapter 7 bankruptcy is a...
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bankruptcy
Debts that can be discharged in Chapter 7 bankruptcy
Chapter 7 bankruptcy can provide relief for some Maryland residents who have overwhelming consumer debt and no means to pay it off. While Chapter 7 bankruptcy can have a negative impact on your credit score, it is sometimes a better option than letting debts go into...
How often can you file for bankruptcy?
Dealing with fiscal emergencies and immense debts can happen more than once in someone's lifetime. Like most states, Maryland, allows residents to file bankruptcy more than once. While there isn't a limit on how many bankruptcies a person can have, there are waiting...
How the means test can affect your bankruptcy proceedings
When you need to declare bankruptcy in Maryland, there are two main options available to consumers. You can file for a Chapter 7 or a Chapter 13 bankruptcy. If you meet the requirements for the means test, you can file for Chapter 7. Otherwise, you can consider...
What are exempt and nonexempt assets in Chapter 7 bankruptcy?
Filing for bankruptcy can be a way to find relief from financial woes and stress. Determining whether filing Chapter 7 is right for you can help you to navigate the process of resetting or selling off additional assets that you currently own to help alleviate...
Will I lose everything if I file for bankruptcy?
Many people in Ocean City are buckling under the weight of overwhelming debt. Fortunately, there is help available, but unfortunately many people are afraid to take advantage of the most powerful debt reduction tool available to them. This tool is personal bankruptcy....
NRA bankruptcy may get dismissed
For anyone that has consumed news during the past 12 months or so, they likely have noticed the deluge of bankruptcy filings by famous brands. Perhaps, one of the most shocking, for various reasons, is the National Rifle Association. However, a bankruptcy judge is...
Who can file for Chapter 7 bankruptcy?
Bankruptcy is a complex legal process. It involves the balancing of financial matters with the application of laws to protect and support the needs of people with overwhelming and insurmountable debts. In Maryland, individual debtors can choose from Chapter 7...
Can filing for bankruptcy stop wage garnishment?
Yes. A Glen Burnie or Ocean City bankruptcy filing can stop most wage garnishments. A wage garnishment happens when a court issues an order requiring your employer to withhold a portion of your paycheck and to send it directly to a creditor. The creditor gets the...
Can filing bankruptcy stop a foreclosure?
Yes. As long as the foreclosure hasn’t been completed, you can declare Chapter 13 in order to save your home even if you have received a foreclosure notice from your lender. However, if you are facing foreclosure it’s best to consult a Baltimore bankruptcy or an Ocean...