Bankruptcy Continues to Best Form of Relief for Most People

I hope you are having a great Sunday. My name is David Ruben and I have been a bankruptcy lawyer in Maryland for almost 23 years. I love what I do. Tommorrow is one of those rare days that I do not have to appear in court, so I was thinking about what my day will bring. Aside from all of the written work that I have to do, I will probably (hopefully) field about 15-20 new phone inquiries about filing Chapter 7 or Chapter 13 bankruptcy. What continues to amaze me about the phone calls is that many of the people have been thinking about calling a lawyer for Chapter 7 or Chapter 13 bankruptcy for months, sometimes years, and have been reluctant to do so for fear of the unknown. People are actually afraid to call me and scared of what they might hear. Many people, after we have our consultation, say "wow, that was easy, I was expecting that to be much worse, I feel so relieved." Despite what you might think or what people might tell you, Chapter 7 and Chapter 13 bankruptcy are … [Read more...]

Do’s and Don’ts for Filing Bankruptcy

I enjoy looking around on the web and reading what other lawyers have to say.  Just today I came across a list of DO’s and DON’Ts for filing bankruptcy by Carmen Dellutri, a well-respected bankruptcy attorney in the state of Florida.  The interesting thing about bankruptcy law is that it is Federal law, which means, with certain variations, the rules and procedures in each state are pretty much the same.  Read on: THINGS THAT ARE OK TO DO IF YOU ARE THINKING ABOUT FILING BANKRUPTCY Do take the bankruptcy court seriously, and avoid making any financial decisions that may make your creditors suspect you of filing in bad faith. Do seek an attorney before you file any papers, and learn your rights and options under the United States bankruptcy code.  Call or e-mail us today and we will answer any questions that you may have. Do maintain timely payments on any collateralized loans that you wish to keep the collateral for. In other words, if you have a mortgage or car payment and … [Read more...]

Why Bankruptcy Focuses on Restructuring

There are two type of bankruptcy for individuals, Chapter 7 and Chapter 13. Chapter 7 is for people who cannot afford to pay their bills and do not have a lot of property. Chapter 7 is not a restructuring, it is a complete elimination of all debt and gives the debtor a fresh start. Common Restructuring Misconceptions Chapter 13 bankruptcy is a restructuring of debt, or more often called a reorganization. Chapter 13 is most often used for people who have fallen behind on their mortgage and cannot catch up, but still wish to keep the home. Chapter 13 automatically allows a person to prevent foreclosure, resume paying the monthly mortgage payment and pay off the mortgage arrears over a period of 3 to 5 years. Contact an Experienced Attorney If you have any questions about Chapter 7 or Chapter 13 bankruptcy, call us today for a free consultation. We are experienced, convenient and affordable and have helped more Marylanders file bankruptcy over the past 20 years. … [Read more...]

Can a Dismissed Chapter 7 be Removed

A question people ask is if there is a way to remove a dismissed Chapter 7 bankruptcy. Once a Chapter 7 bankruptcy is dismissed, it cannot be removed. However, if a Chapter 7 bankruptcy is dismissed, the debtor simply needs to wait 180 days (6 months) in order to file another Chapter 7. What Can Be Done If you have credit card debt, medical bills, judgments, repossessions, evictions, or other types of debt and cannot afford to pay them, you should consider Chapter 7 bankruptcy. Chapter 7 will eliminate your debts and give you a fresh start. If your credit score is already low, it will actually improve after you have filed and successfully completed your Chapter 7 bankruptcy. Contact MD Bankruptcy Center Today If you have any questions about Chapter 7 bankruptcy, give us a call today for your free consultation. … [Read more...]

What You Should Know About Default and Bankruptcy

If a debtor has “defaulted” on a loan, that means that they have not paid the debt in accordance with the terms of the original contract that they had with the creditor.  For example, if you have a credit card and your balance one month is $1000.  You are required to make a minimum payment on that debt within 30 days.  If you do not make the payment, you are in “default” and the credit card company has the right to file a lawsuit against you and get a judgment.  Once they have a judgment, they “enforce” that judgment by attaching your bank account or garnishing your wages. Bankruptcy vs Default: The Real Difference Bankruptcy is different.  Bankruptcy is word that describes your constitutional right to get a fresh start if you find yourself in a bad financial situation.  Chapter 7 bankruptcy allows you to “discharge” your debts, which means that you do not have to pay them, ever.  Chapter 7 allows you to “reorganize” your debts, which means that you pay some or all of them back, but … [Read more...]

Can You File For Bankruptcy Without an Attorney?

While filing bankruptcy is a possible option, it is not a good idea. The paperwork required and the very strict rules make it very difficult and time consuming to file without a lawyer. We have the experience, knowledge, and, frankly, the computer software which gives us the advantage. It is really no different than taking your car to the shop to get your brakes done. Yes, I suppose that if you read the books and bought the equipment needed to repair brakes you could do it yourself, but is that really a good idea? Better Safe Than Sorry When It Comes To Bankruptcy All too often people call us after they have filed on their own and had their cases dismissed. Sometimes actually lose property that they wouldn’t have lost when they file on their own. It is just not a good idea. From a cost standpoint, we understand that filing bankruptcy is not cheap, but think of it this way. You will be paying a lawyer anywhere from $800 (us) to $2000 (most other firms) to eliminate potentially … [Read more...]

The Differences You Need To Know Between Chapter 7 and 13

The Maryland Bankruptcy Center and the Law Offices of David L. Ruben, P.A., handles two different types of bankruptcy cases. Chapter 7 bankruptcy is the most common form of bankruptcy.   Chapter 7 is what you need if you have a lot of bills and no means to pay them.  You can own a home and other property in a Chapter 7, but you must have very little equity in the home or car, that is, if you have the ability to sell your property and pay off your bills, Chapter 7 is not for you.  The other qualification for Chapter 7 is income.  This depends on how much money you (and your spouse if you are married) have earned during the six months before filing bankruptcy and also how many people live in your household.  When you call, we will go over the numbers with you and determine if Chapter 7 is the right way to go. Chapter 13 is the other type of consumer bankruptcy.  If you find yourself behind on your mortgage but you want to keep your home, and you just do not have the ability to get … [Read more...]

How To Avoid A Making A Bankruptcy Mistake

When deciding whether or not to file for banktuptcy it is important to understand exactly what circumstances dictate .People often wonder if bankruptcy is the best option, and perhaps the best way to approach this question is to state when bankruptcy is not the best option. If you have the ability to pay off all of your debts within six months of today, bankruptcy is probably not the best option.  If you make a very high salary and your credit score is high, bankruptcy is not a good option.  If you have the ability to sell your property and pay off all or most of your debts with the proceeds, bankruptcy is not going to help. If you are on this website looking for information about bankruptcy, chances are bankruptcy is the best option.  If you have unsecured debts, such as credit cards, medical bills, repossessions, judgements, garnishments, and you cannot afford to pay them, Chapter 7 bankruptcy most likely is the right option.  If you those types of bills and make a high salary, … [Read more...]

The Secrets You Need For Personal Bankruptcy

Personal bankruptcy, also known as Chapter 7 or Chapter 13 bankruptcy, is a simple process.  It is the process by which you ask the United States Bankruptcy Court to order your creditors to close out your accounts forever, thereby eliminating your debt and giving you a fresh start. When you use our firm, the process usually starts with a phone call to an attorney, usually me.  Unlike most attorneys, who just want to get you in the office and sell you a bill of goods, I will ask you questions on the phone and give you an assessment of your situation immediately.  If we determine that personal bankruptcy is the right thing for you to do, I will tell you how much I charge and schedule an appointment.  Because our fees our less than most, the large majority of people who call us usually schedule and appointment and end up using our services.  We are pleased to say that nearly everyone who has used our firm in the past several years has been very happy with our customer service, not to … [Read more...]

What Most Bankruptcy Attorneys Wont Tell You

So what happens to a person when he or she files for bankruptcy?  What is the process like?  It is highly likely that a person who has finally made the decision to file for bankruptcy relief has been under a great amount of financial stress and pressure and has had many sleepless nights for many months, if not years.  As with anything in life, the most important step in making a difficult decision is taking that first step.  The first step is to make the phone call or send the e-mail to our office and explain your situation.  Once you find out your options you are well on your way to improving your quality of life in more ways that you can imagine. At the Law Offices of David L. Ruben and the Maryland Bankruptcy Center we pride ourselves in our top rated customer service.   Frankly speaking, the law is easy, any good lawyer can help you eliminate your debt.  But, depending on who you use, and how your case is handled, there can be a monumental difference in getting you a very … [Read more...]