There are two type of bankruptcy for individuals, Chapter 7 and Chapter 13. Chapter 7 is for people who cannot afford to pay their bills and do not have a lot of property. Chapter 7 is not a restructuring, it is a complete elimination of all debt and gives the debtor a fresh start. Common […]
Get sound legal advice from Sirody & Associates. Image Source If you live in Maryland and are facing financial hardship, you might be considering bankruptcy. This article describes the process for filing for Chapter 7 bankruptcy. Baltimore attorney Jeff Sirody explains that in Chapter 7 your nonexempt assets are sold to pay the claims of […]
A question people ask is if there is a way to remove a dismissed Chapter 7 bankruptcy. Once a Chapter 7 bankruptcy is dismissed, it cannot be removed. However, if a Chapter 7 bankruptcy is dismissed, the debtor simply needs to wait 180 days (6 months) in order to file another Chapter 7. What Can […]
For all your legal questions, Sirody & Associates is pleased to announce the release of our free eBook that has all the information you need about bankruptcy. Baltimore, Maryland residents facing financial difficulty will especially benefit from this book as it is tailored to our geographic area.
If a debtor has “defaulted” on a loan, that means that they have not paid the debt in accordance with the terms of the original contract that they had with the creditor. For example, if you have a credit card and your balance one month is $1000. You are required to make a minimum payment […]
The Maryland Bankruptcy Center and the Law Offices of David L. Ruben, P.A., handles two different types of bankruptcy cases. Chapter 7 bankruptcy is the most common form of bankruptcy. Chapter 7 is what you need if you have a lot of bills and no means to pay them. You can own a home and […]
When deciding whether or not to file for banktuptcy it is important to understand exactly what circumstances dictate .People often wonder if bankruptcy is the best option, and perhaps the best way to approach this question is to state when bankruptcy is not the best option. If you have the ability to pay off all […]
Image Source If you are behind on credit card or mortgage payments you might be receiving letters or phone calls from collection agencies. This can be a great source of stress for anyone facing financial difficulties. One way to recover from a difficult debt situation is to file for bankruptcy. Stopping the collection letter is […]
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 […]
