Are you struggling to keep up with your debts? Are creditors calling you day and night? If you’re feeling overwhelmed by your financial situation, it may be time to consider bankruptcy. At The Law Offices of Sirody & Ruben Bankruptcy Center, we have a team of experienced bankruptcy lawyers in Woodlawn, MD who can help you get your life back on track. We understand the stresses that come with mounting debt, and we’re here to help you find a solution that works for you. If you’re considering bankruptcy, you don’t need to go through it alone.

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. In chapter 7 bankruptcy, the debtor’s nonexempt assets are liquidated and the proceeds are used to pay off creditors. However, not everyone is eligible for chapter 7 bankruptcy. For example, if the debtor has a regular income and their debts are primarily consumer debts, they may not be able to file for chapter 7 bankruptcy.


In chapter 13 bankruptcy, also known as reorganization bankruptcy, the debtor reorganizes their debts and enters into a repayment plan. The repayment plan lasts for three to five years and during that time the debtor makes payments to their creditors. At the end of the repayment plan, any remaining dischargeable debts are discharged. Chapter 13 bankruptcy is available to individuals with regular incomes as well as businesses.

Chapter 11 bankruptcy is similar to chapter 13 bankruptcy in that it involves a repayment plan. However, chapter 11 bankruptcy is available to businesses and individuals with high levels of debt. In chapter 11 bankruptcy, the debtor reorganizes their business or financial affairs and enters into a repayment plan with their creditors. The repayment plan lasts for three to five years and at the end of the repayment plan any remaining dischargeable debt is discharged.

What Happens During the Bankruptcy Process?

The bankruptcy process can be a complex and confusing one, but there are some general steps that all individuals or businesses going through bankruptcy will go through. Our bankruptcy lawyer in Woodlawn, MD can help you navigate the process. First, the individual or business will file a petition with the bankruptcy court. This petition will list all of the debtor’s assets and liabilities, as well as any debts that are dischargeable through bankruptcy. Next, the court will appoint a trustee to oversee the case. The trustee’s job is to make sure that the debtor’s assets are properly managed and that creditors are treated fairly. Once the trustee has been appointed, creditors will have an opportunity to file claims against the debtor. These claims must be approved by the court before they can be paid out of the debtor’s estate. Finally, once all claims have been resolved, the court will issue a discharge order releasing the debtor from any remaining debts.

Where Can I Find a Bankruptcy Lawyer in Woodlawn, MD?

The Law Offices of Sirody & Ruben Bankruptcy Center is a full-service law firm that has been serving the Woodlawn, MD community for years. We have experience handling a wide range of legal matters, including bankruptcy. If you are considering filing for bankruptcy, our bankruptcy lawyer in Woodlawn, MD can provide you with the guidance and support you need to navigate the process. We will work with you to assess your financial situation and determine if bankruptcy is the right option for you. If it is, we will help you to file the necessary paperwork and represent you in court. Our goal is to help you get on the path to financial stability, and we will do everything we can to help you achieve that. Contact us today at 410-847-7249 to schedule a consultation.