Hey folks. I’ve decided that my goal in life (well, at least in my professional life as it pertains to my bankruptcy law practice), is to make the word “bankruptcy” a “good” word, rather than a “bad” word. “Bad” words can never be good. Illness, discrimination, death, taxes………those are never good words, they are always […]
Maryland Bankruptcy Lawyers have a “list-serve” where we post questions and answers to bankruptcy questions in order to help each other out. Although I have alot of experience handling Chapter 7 and Chapter 13 consumer bankruptcy cases, I continually learn and keep up to date by reading the list serve questions and answers each day. […]
This weekend I was in Ocean City, Maryland with my family. Everywhere I went, restaurants were packed, stores were mobbed and hotels had “no-vacancy” signs. And as a personal bankruptcy attorney, I couldn’t help but notice that nearly everyone was using their high interest credit cards to pay for their consumer goods and services. This, […]
CONSUMER BANKRUPTCY FILINGS UP 14 PERCENT THROUGH FIRST HALF OF 2010 July 2, 2010 Alexandria, Va. — U.S. consumer bankruptcy filings totaled 770,117 nationwide during the first six months of 2010 (Jan. 1-June 30), a 14 percent increase over the 675,351 total consumer filings during the same period a year ago, according to the American […]
National Bankruptcy Research Center May 2010 Bankruptcy Filings Report Bankruptcy filings in May 2010 fell slightly to 137,000 (from 145,000 in April). Because April and May filings usually are at about the same level, this suggests that bankruptcy filings were essentially constant through May, with perhaps a slight decline. Still, filings for 2010 to date […]
Very few people know why the type of personal bankruptcy that eliminates a persons debts is called CHAPTER 7. Well, here’s the answer. There is huge volume of books that contain all of the laws that our Federal Government passes. Those books are called the United States Code. That Code has TITLES, and within those […]
What is a bankruptcy discharge? The typical consumer files a bankruptcy case in order to obtain a “discharge” of overwhelming debt. An unfortunate word that is used to describe what for many is a life changing “event”. Why? When a debt is “discharged”, the obligation of the debtor to pay it, no longer exists. The […]
Personal bankruptcy filings for the month of May have increased compared with a year ago, but dropped slightly compared with a month earlier, the American Bankruptcy Institute reported last week. Here’s a breakdown of the data. Total filings: In May 2010, 136,142 personal bankruptcy cases were filed, a nine percent increase from May 2009, when […]
Bankruptcy terms can be difficult to understand. Below are brief definitions of the terms used in this site and in the Bankruptcy Code. If you have any questions, please feel free to contact us. 410-766-4044. Adequate protection:Payment to a secured creditor to protect the value of the creditor’s lien during the bankruptcy proceeding from loss […]
What does “discharged” mean? The goal of a bankruptcy proceeding is to obtain a discharge of debts. When a debt is discharged, it is no longer enforceable against the debtor personally. Personal liability When you have personal liability for a debt, a creditor with a judgment can use legal processes, like levy and garnishment, to […]
