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...]

In Debt Today

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 value. In some cases, debt can be beneficial to the individual. Debt can help a student make it through school. Debt can also help a business get an idea off the ground. For example, the electric car company Tesla received a loan from the government, which it was able to fully repay in 2009. Tesla would never have been able to create the electric car without incurring that debt. Debt can be a necessary occurrence in these economic times. For example, it can be used to finance a car that will allow you to get to work or school. Debt can be a great tool to reach your goals. But sometimes your financial circumstances change through no fault of your own, causing these debts … [Read more...]

A Credit Card Company Has Filed a Lawsuit Against Me, What Do I Do?

This is one of the most commonly asked questions by people who are considering bankruptcy.  At the Maryland Bankruptcy Center we eliminate more credit card debt than nearly every other law firm in the state of Maryland.  Here is how it works. If you have an outstanding balance on a credit card, you will initially get phone calls from the credit card company.  Usually they will lie to you and tell you that if you don’t pay your wages will be garnished or your property will be taken immediately.  Not true. Usually, credit card companies in Maryland wait about 6 months to a year before they actually file a lawsuit against you.  And even then, the only way that they can garnish your wages or attack your bank account is to obtain a judgment against you, wait for the appeal period to expire, and then file more papers with the court.  In EVERY case, it takes the credit card company at least 120 days AFTER they file a lawsuit against you to be able to garnish your wages or attack your bank … [Read more...]

Will Bankruptcy Stop a Wage Garnishment?

Yes, filing Chapter 7 or Chapter 13 bankruptcy will automatically stop a wage garnishment. If it is a dishcargeable debt (credit card, repossession, medical bill, etc.), then it will be stopped for good. If it is a non-dishchargeable debt (most taxes, student loans, MVA debts), it will be stopped while the bankruptcy is pending (usually about 4 months for a Chapter 7), but then start up again after the bankruptcy is discharged. You can file bankruptcy before or during a garnishment. In other words, just because it has already started, that doesn't mean you cannot stop it. It stops as soon as you file your bankruptcy. In some cases, depending on how much money has already been taken from you and over what period of time, you can get your money back from the creditor after the bankruptcy is filed. If you are looking for a Maryland Bankruptcy law firm to help you file a Chapter 7 or Chapter 13 bankruptcy, call us. We are bankruptcy attorneys with a great deal of … [Read more...]

Can I Still File Bankruptcy If My Wages Are Already Being Garnished?

Simple answer, yes! At the Maryland Bankruptcy Center we do a great deal of online promotion and receive referrals from friends, family and former client's every day. I probably spend at least 2 hours per day just giving out free consultations on the telephone. Sometimes people come in and file, sometimes they don't, but the experience that I get of understanding the every day questions that people are facing is invaluable. I get it. Although I am not going through what you are going through, I talk to enough people every day so that I really understand your problems, and I have the ability to solve them for you. A frequent question asked by callers is "Can I still file Chapter 7 or Chapter 13 Bankruptcy in Marylnad if my wages are already being garnished or if my bank account has already been frozen.?" Many people are led to believe, usually by the creditors, that once wages are being garnished, or a judgment has been entered, it's too late and bankruptcy will not protect … [Read more...]

Can Chapter 7 Bankruptcy Help Me?

I saw this article online and thought it was excellent, please read if interested in learning about or filing Chapter 7 bankruptcy, I couldn't have said it any better myself. Can Chapter 7 bankruptcy help? When most people think of filing for bankruptcy, they think of chapter 7 bankruptcy. Chapter 7 bankruptcy, often referred to as “straight bankruptcy,” is a much faster process than its slower cousin chapter 13 bankruptcy. Depending on income, chapter 13 bankruptcy lasts between 3 to 5 years, whereas a typical chapter 7 case is open and shut within 4 months. Within that short time frame, chapter 7 transforms the debtor’s financial life from a cluttered mess, to a clean slate. Here are 5 important ways that chapter 7 bankruptcy can help if you find yourself in financial distress. 1. Eliminate unsecured debt. This is the most obvious way that chapter 7 bankruptcy helps consumers. Filing for chapter 7 bankruptcy wipes out high interest credit card debt and medical bills. … [Read more...]

Can Bankruptcy Help?

At the Maryland Bankruptcy Center, we tell at least 1 person per day that they are NOT eligible to file bankruptcy or that bankruptcy is not a good idea. On the other hand, we tell most people who call that filing bankruptcy in Maryland is the right choice. Why is that? Chances are, if you are researching bankruptcy, you have found yourself in a very difficult financial situation and you are desperate for help. Chapter 7 and Chapter 13 are your last resort, but unfortunately in this economy, it is the only resort for hundreds of thousands of Marylanders each year. Consider the article below, and if you have any questions at all, feel free to call us anytime. Filing For Bankruptcy is a Major Decision. Necessary For Some, Unnecessary For Others… You don’t just throw a bankruptcy in your shopping cart and head for the check out, it’s a major life decision that should not be entered into lightly. In some cases, bankruptcy can really help. Some families who are avoiding filing … [Read more...]

When Should I Talk to A Bankruptcy Attorney?

Through my national bankruptcy connections I recently became friends with Quinton Pelley, one of the premier bankruptcy attorneys in the state of Texas. He was kind enough to share with me some great articles/blogs that he has written in the bankruptcy field for potential bankruptcy filers. I think that this one is excellent, so I am sharing it with you. If you are searching for a bankruptcy attorney to help you through this most difficult process, contact us today. No two debt situations are the same. However, since we have been helping people resolve their debt problems since 1991, we have noticed quite a few patterns. We know that you did not choose to be in this position. We also know that you were probably forced into your debt situation because of one or more of the following: Loss of job, reduction in income, death, divorce, someone got sick, ridiculously high interest rates, the bad economy, or some other similar life changing event. Life happens. Now you need to make the … [Read more...]

Getting Credit After Bankruptcy…..Is it really 10 years?

Clients are always concerned about their credit score. It is not unusual for the question “How will bankruptcy affect my credit score?” to be the first thing that comes out of someone’s mouth when they consider bankruptcy as an option. Although bankruptcy does have an effect on your credit, the effect may not be as bad as many would have you believe. Further, most people fail to compare the alternative effect that not filing bankruptcy will and already does have on their credit. There are a number of facts that will appear on your credit report. Any type of loan, any credit you have taken out, how you use it, whether you have paid it or are in default, are all things that will appear when someone looks up your credit report. Bankruptcy will appear on your credit report for up to 10 years. Any negative occurrences will appear for 7. If your credit is poor, as most people’s is when they consider filing for bankruptcy, bankruptcy may not hurt your credit as much as not filing … [Read more...]

Keeping Your Car When Filing Bankruptcy

I saw this article on a related bankruptcy website and thought it was very good and wanted to share it with you. If you have any questions regarding this issue or are looking into filing bankruptcy, please call us for a free consultation. You Can Keep a Car in Bankruptcy, But Under What Terms? In our current tenuous economic climate, more and more normal, honest, hardworking people are turning to bankruptcy for relief from overwhelming debt. In fact, most people who file for bankruptcy are perfectly responsible citizens who have lost homes, lost law suits, incurred unexpected medical bills or other large, unforeseen expenses. One of the most commonly held beliefs about the bankruptcy process is that by filing, you will automatically lose your car. This is simply not true. If you want to keep a car you are still paying for, you will have to give up some of the very benefit your bankruptcy discharge gives you. Reaffirmation Agreements To keep a car on which you are still … [Read more...]