Do You Need a “Good” Reason to File Bankruptcy?

Many people with financial problems don’t even consider bankruptcy because they envision themselves having to go in front of a Judge in a Courtroom and explain exactly why and how they find themselves in a bad financial situation.   Well, I am here to tell you, and anyone who has every filed bankruptcy before will tell you, that is not the case.  The bottom line is this.  If you meet certain criteria, a Judge or a Court has no basis to ask you why you are filing bankruptcy, so just don’t worry about it.   

So what are the criteria that I need in order to successfully file bankruptcy?  Good question.  It’s really a very simple question with a very simple answer.  The answer is this.  If you have debt that you are not able to pay, and you don’t have alot of property that you could sell to pay it off, and you don’t make a ton of money…… qualify.  It’s really that simple.   Chapter 7 Bankruptcy was designed many years ago in order to help people get back on their feet they are having financial problems.  Many people feel as if they cannot qualify for Chapter 7 Bankruptcy if they are still working.   On the contrary, most people who file bankruptcy are employed full time.  In fact, most people who file bankruptcy find themselves in a bad financial position not because of job loss or medical problems, but simply because of overspending.  That’s okay.  Unless you have committed fraud, a Judge or a Trustee will never say “you can’t file because you spent beyond your means.”  In fact, they will never question it.

A 5 minute conversation with a Maryland Bankruptcy lawyer will probably be enough to answer any of the preliminary questions that you have regarding Chapter 7 consumer bankruptcy.  Chapter 7 bankruptcy eliminates credit card bills, medical bills, judgements, repossession deficiency’s, personal loans, any all unsecured loans, except student loans and debts to government agencies in most circumstances.  The Maryland Bankruptcy Center is run by two separate law firms and provides excellent services and very competitive fees throughout the State of Maryland.  We  like to think that we are more accessible to the public than any other bankruptcy law firm in the State of Maryland.  Call me right now, you’ll see.  We are always available to answer your questions, free of charge, whether it is a weekday, evening or weekend.   We earn a living by helping people like you eliminate your debt and get a fresh start.  We are proud of what we do.  We know that this is a very difficult time for you, and our goal is to make it as painless as possible for you every step of the way.  Call us now (come on, try it, even if it is a weekend or evening, leave a message and we’ll call you right back, you’ll see), at (410) 766-4044 or (301) 587-8900.   We look forward to hearing from you.

David L. Ruben, Esquire