If you’re considering filing for bankruptcy, it’s important to have an experienced bankruptcy lawyer on your side. The Law Offices of Sirody & Ruben Bankruptcy Center has a bankruptcy lawyer serving Catonsville, MD who can help you navigate the process and ensure that you get the relief you need. Our lawyer will work with you to understand your unique financial situation and determine whether bankruptcy is the right option for you. If it is, we’ll help you every step of the way, from filing the paperwork to attending court hearings. We understand how overwhelming and stressful bankruptcy can be, but we’ll be there to guide and support you every step of the way. Contact us today to schedule a consultation.
What are the Different Types of Bankruptcy?
When most people think of bankruptcy, they think of Chapter 7 bankruptcy, also known as liquidation bankruptcy. This is the type of bankruptcy that individuals typically file for. Under Chapter 7, assets are sold off in order to pay creditors. However, not all assets are eligible for sale, and some may be exempt from the bankruptcy process altogether. In addition, individuals who file for Chapter 7 bankruptcy may also be required to take a means test in order to qualify.
Chapter 13 bankruptcy, on the other hand, is typically filed by businesses or individuals with a regular income. Under Chapter 13, debtors propose a repayment plan to their creditors. The plan must be approved by the court before it can go into effect. Once it is approved, debtors make monthly payments to their creditors according to the terms of the plan. If the debtor completes the payments as agreed upon, any remaining dischargeable debt will be wiped away.
Bankruptcy can be a complex and confusing process but understanding the different types of bankruptcies is a good place to start. With this knowledge, you can begin to explore whether bankruptcy is the right option for you or your business.
The Benefits of Hiring a Bankruptcy Lawyer in Catonsville, MD
Filing for bankruptcy can be a daunting task, and it’s important to have the guidance of an experienced professional. A bankruptcy lawyer can help you navigate the process and ensure that you are taking the best possible steps for your financial future. Here are some of the key benefits of hiring a bankruptcy lawyer in Catonsville, MD:
- They can assess your financial situation and advise you on the best course of action.
- They can help you fill out paperwork and file for bankruptcy.
- They can negotiate with creditors on your behalf.
- They can defend you in court if necessary.
- They can help you rebuild your credit after bankruptcy.
A bankruptcy lawyer can be a valuable asset during this difficult time. If you are considering filing for bankruptcy, be sure to consult with a lawyer to discuss your options and determine the best course of action for your specific situation.
Where Can You Get a Bankruptcy Lawyer in Catonsville, MD?
When you’re facing financial difficulties, it’s important to know that there are options available to help you get back on track. One of those options is bankruptcy. If you’re considering filing for bankruptcy in Catonsville, MD, it’s important to have an experienced bankruptcy lawyer on your side. The Law Offices of Sirody & Ruben Bankruptcy Center can help. We have more than 25 years of experience helping people in Catonsville and the surrounding areas navigate the bankruptcy process. We understand the stress and anxiety that can come with financial difficulties, and we’re here to help you every step of the way. Contact us today at 410-847-7257 to schedule a free consultation. We’ll review your situation and help you determine if bankruptcy is right for you.