There are many misunderstandings about filing for Chapter 13 Bankruptcy. Below we note five of the common myths about filing for Chapter 13 Bankruptcy in Maryland. Myth #1: Most people don’t qualify for Chapter 13 Bankruptcy. Misleading! While there are debt limits to qualify for Chapter 13, they are high and only preclude individuals in […]
If you’re struggling with more debt than you can manage and have gotten behind on your home mortgage and car payments, you may be evaluating filing for Chapter 13 bankruptcy. Some common misconceptions about bankruptcy are that you will lose your home or that the process will drag on for years. In general, this simply […]
Chapter 13 bankruptcy can be a prudent option for people who are struggling financially but have a steady source of income that can be used to repay some of their debts. Unlike Chapter 7 bankruptcy, Chapter 13 lets the individual reallocate and consolidate their debts and then pay them back in a more efficient manner. […]
Home is where the heart is. Your home is not only your most important financial asset, but it is likely filled with many family memories. Unfortunately, during difficult economic times, it is not unusual for people to struggle with mortgage payments and sometimes be forced to give up their home. According to the Maryland Department […]
If you find that you are having trouble meeting your financial obligations, you are not alone. In this very difficult economic time, many consumers are having trouble staying on track with bill payments. WalletHub recently reported that the average U.S. household is carrying a credit card balance of $7,854. The problem with unpaid debt is […]
Divorce can be a complicating factor in bankruptcy proceedings. The timing of divorce versus bankruptcy depends on several factors such as your overall debt and if you choose to file for Chapter 7 or Chapter 13. It is important to plan bankruptcy and divorce carefully since each significantly affects the other. Good legal counsel can […]
Chapter 13 bankruptcy is sometimes referred to as a debt reorganization or debt reallocation bankruptcy. It can be a financial life raft for those who have a steady stream of income but have fallen on hard times due to medical bills, divorce, credit card debt or other unforeseen circumstances. Chapter 13 bankruptcy involves the creation […]
Traffic citations are issued for a variety of reasons, from speeding to failing to drive with insurance, to running a stop light. Speeding tickets are the most common type of traffic fine and they are often given out where they are least expected. Unfortunately, it is easy to drive a little too quickly while rushing […]
For the 31.7 million small businesses in the United States, a sudden drop in revenue due to an external event can have a catastrophe impact on the financial stability and longevity of the business. Recent modifications to Subchapter V of the Chapter 11 Bankruptcy Code were enacted to help commercial businesses with fewer than 1,500 […]
It has been eight months since the country first shut down, and there are still millions of people from all walks of life dealing with the economic aftermath. Many small, non-corporate businesses were forced to close and ended up having to shut their doors forever. Larger companies had massive layoffs and industries across the board […]
