Personal bankruptcy, also known as Chapter 7 or Chapter 13 bankruptcy, is a simple process. It is the process by which you ask the United States Bankruptcy Court to order your creditors to close out your accounts forever, thereby eliminating your debt and giving you a fresh start. When you use our firm, the process […]
So what happens to a person when he or she files for bankruptcy? What is the process like? It is highly likely that a person who has finally made the decision to file for bankruptcy relief has been under a great amount of financial stress and pressure and has had many sleepless nights for many […]
Bankruptcy is a legal process offered to persons that cannot repay their debts. It is a way for a person, under the protection of the law, to get a fresh start financially without the burden of preexisting debt. Bankruptcy can stop house foreclosures, car repossession, and wage garnishment. Bankruptcy status also protects a person from […]
Many people want to know what happens to their student loans if they file for personal bankruptcy. You may have heard that although they are not usually discharged, student loans can be discharged if you can show a special “hardship.” While that may be true, it is nearly impossible for you prove the type of […]
There are many factors to consider when thinking about filing for personal bankruptcy. First and foremost, how much debt to you have? The rule of thumb is that if you do not believe that you will be able to pay off all of your unsecured debt (debt not included houses and cars) within six months, […]
One of the most prevalent questions we receive is, “How devastating is filing for bankruptcy?” And we always say, filing for bankruptcy is not devastating, it’s as simple as that. Nobody ever wants to file bankruptcy, but in the end, you will never find someone who filed bankruptcy who was not happy that they made […]
The circumstances that lead to personal bankruptcy are never easy. Frequently, expensive medical care is to blame. Perhaps a business didn’t meet its financial goals, or maybe a person lost their job and couldn’t keep up with the bills. In some situations accidents or even natural disasters can lead to insurmountable credit problems. However, filing […]
If you live in Maryland and are facing serious credit problems, you might be considering filing for bankruptcy. Federal law changed in 2005, and it is important to be aware how these changes affect anyone considering bankruptcy filing. As you can see below, the steps to filing for bankruptcy in the State of Maryland are […]
Due to the complexity of bankruptcy law, there are attorneys that focus their practice on bankruptcy. For personal bankruptcy, you are not required by law to have legal representation. However, the smart thing to do in complex situations is get professional help. Stress Relief One of the most important jobs of the bankruptcy attorney is […]
If you are at or nearing the point of declaring personal bankruptcy you may be feeling scared, confused, angry, or sad. The information available in the media and advice you may get from friends and family is overwhelming and much of it negative. What follows are some of the common myths of bankruptcy and the […]
