It is the first week of February and the phones at the Maryland Bankruptcy Center have been ringing off the hook. I am a Maryland Bankruptcy lawyer. I earn my living helping Maryland residents file Chapter 7 and Chapter 13 bankruptcy. February is the busiest time of the year for bankruptcy filings. Why? Good question. […]
According to the 2010 Fiscal Year statistics from the Administrative Office of the U.S. Courts, the number of bankruptcies filed between October 1, 2009 and September 30, 2010 increased from 1,402,816 to 1,596,355, an increase of 13.8%. Chapter 11 (business and large individual) filings decreased, from 14,745 to 14,191, a 3.8% drop. Business filings overall […]
Filing Bankruptcy in Maryland is becoming more and more popular. The effects of the “great recession” that began in 2008 are in many cases hitting consumers now. Although some of our counties are among the richest in the nation, most Maryland residents (was well as most Americans), live paycheck to paycheck. When the recession hit, […]
If you’ve got a judmgent against you for an unpaid credit card debt, personal loan, medical bill, or similar debt then you may be thinking that filing for Chapter 7 or Chapter 13 personal will solve the problem. Well…..you are CORRECT! A judgment is a common reason for Maryland residents to consider filing for bankruptcy. In Maryland […]
Recently the Maryland legislature passed a new law that increases a homeowners chance of keeping their home even after filing Chapter 7 bankruptcy, which eliminates almost all of their debts. A terrific website called legalconsumer.com recently posted an article about the new Maryland Homestead law, and in part, it provides as follows: Almost every state […]
Why is it that credit reporting companies have so much control over our lives? One false report on your credit report could cost you the ability to buy a house, car or to even obtain a credit card. Is that fair? No way. Is there anything you can do about it? Yes, there is. It’s […]
I want to give you all an idea of the bankruptcy process. I’ll try to keep this simple and cover only the “normal” case and not cases involving objections from creditors and other complications. Once you’ve chosen a Maryland bankruptcy attorney, provided all of the documentation requested, and paid the required fees, it’s time to […]
News Flash! November 8, 2010 —Bankruptcy cases filed in federal courts for fiscal year 2010, the 12-month period ending September 30, totaled 1,596,355, up 13.8 percent over total FY 2009 bankruptcy filings of 1,402,816, according to statistics released today by the Administrative Office of the U.S. Courts. While non-business bankruptcy filings continued to rise in […]
I came across this article today on the internet and thought it was very interesting. Often times potential or actual bankruptcy client’s ask me what affect bankruptcy will have on their credit. My answer is always the same. That is, it will stay on your credit report for 7 to 10 years and if you […]
November 08, 2010 October Filings Hold Steady 2007 2008 2009 % 2010 % Jan 55,200 70,300 89,000 27% 102,600 15% Feb 58,800 79,500 102,000 28% 117,800 15% March 73,100 90,400 131,000 45% 159,200 22% April 67,800 93,200 128,700 38% 146,200 14% May 69,900 89,700 120,400 34% 133,500 11% June 67,300 […]
