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...]

Filing Bankruptcy is Good For Your Health!

I recently came across this article and wanted to share it with you on my website. As a bankruptcy lawyer practicing bankruptcy in Maryland for more than 20 years and handling over 2000 Chapter 7 and Chapter 13 cases, I can tell you first hand that filing bankruptcy will improve your health. The relief I see when people first come into my office and learn their rights is amazing, it's like a giant burden lifted off the client's shoulder immediately. Sometimes just knowing your rights is all that you need, at least you know that you can be helped. Call us today for a free consultation so that we can not only improve your financial situation, but improve your health As we say: FILE TODAY...........SMILE TOMORROW! HERE IS THE TEXT OF THE ARTICLE If you find yourself deep in debt and are desperately trying to avoid bankruptcy, it might be time for a paradigm shift. Not only does bankruptcy provide relief from debt, it provides relief from chronic stress that can lead to … [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...]

What is a Meeting of Creditors?

The meeting of creditors is provided pursuant to this Section 341 of the United States Bankruptcy Code. The meeting is often referred to as the 341 meeting of creditors or your bankruptcy court date. At the meeting of creditors, you along with your attorney are going to be present in front of either a Chapter 7 or a Chapter 13 trustee. The purpose of the meeting is to administer any assets in a Chapter 7 that are administrable and in a Chapter 13, to verify that you are putting all of your disposable income towards your Chapter 13 repayment plan. At your meeting of creditors, you are going to be sworn in. You’re going to have to show identification and proof of your Social Security card. Once you are sworn in, you are going to be asked a series of questions based on the information provided in your documents. For example, the trustee is going to ask if you signed the documents under all penalties and perjury, if you listed all of your assets and all of your liabilities and … [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...]

How Will Bankruptcy Affect My Credit?

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...]

Bankruptcy: What is it and how does it work?

As a Maryland bankruptcy lawyer, I have many clients that know very little about the bankruptcy process when they come in for a consultation. It is important that anyone considering filing for bankruptcy to have a basic understanding of the process before they make the decision to file. Everyone has a right to know what their options are and how these options can affect their future, especially when dealing with a bankruptcy. Types Of Bankruptcy There are two types of bankruptcy and each carry different qualification standards. Filing for Chapter 7 bankruptcy produces a debt elimination at very little out of pocket cost to the debtor. However, a debtor must have a reportable income less than the median income level of their state of residence in order to qualify. This rule prevents abuse of the system by weeding out anyone who may be able to afford to repay their debts rather than have them eliminated. Filing for Chapter 13 bankruptcy allows a debtor to develop a repayment … [Read more...]

Tax Refund and Chapter 7 Bankruptcy

As 2011 draws to an end, many people will be thinking about filing Chapter 7 bankruptcy in Maryland in 2012.  One very common question, almost always asked at the beginning of the year, is:   IF I FILE CHAPTER 7 BANKRUPTCY IN MARYLAND, WILL I STLIL BE ABLE TO KEEP MY TAX REFUND?   The answer is.............yes, in just about every case, you will be able to keep your tax refund.  When you file Chapter 7 bankruptcy in Maryland, you are permitted to keep roughly $12,000 worth of "liquid" assets.  That does not include your house.  That includes, for most people personal belongings such as household goods and furnishings, automobiles that are fully paid off, money in savings and checking accounts, and certain other assets.  One asset that people often forget is there tax refund.  A tax refund, or an expected tax refund, is nothing more than money in a savings account held by the government that will be given to you after you file your taxes and show that you have overpaid your taxes, which … [Read more...]