I saw this article online and thought it was excellent, please read if interested in learning about or filing Chapter 7 bankruptcy, I couldn’t have said it any better myself. Can Chapter 7 bankruptcy help? When most people think of filing for bankruptcy, they think of chapter 7 bankruptcy. Chapter 7 bankruptcy, often referred to […]
A number of the people I counsel want to know how soon they can restore their credit after bankruptcy. The prerecession standard advice was two years for a credit card with decent interest and four years for a mortgage with indecent interest. But that was then. Now, because so many people have bad credit because […]
Two Rules for Utilities and Bankruptcy When people are current with their utility bills, utilities rarely become an issue in bankruptcy. That is because Section 11 U.S.C. § 366(a), prohibits utility companies from discriminating against people based solely on bankruptcy filing. However, often being current is not the case and people seek to discharge their […]
The Baltimore Homeownership Preservation Coalition is launching a campaign to warn struggling borrowers that some of the people promising to help them avoid foreclosure will only hasten it. The nonprofit, which will be joined by elected officials at an event today, doesn’t want homeowners to be scammed. It’s telling residents not to pay foreclosure-prevention firms […]
At the Maryland Bankruptcy Center, our lawyers are always trying to educate ourselves so that we can pass on important information to our Chapter 7 and Chapter 13 client’s. I saw this article on a great consumer bankruptcy website and I thought I would pass it on. Check it out. And if you have any […]
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 […]
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 […]
Think about this: Just because you can pay your minimum payments each month, does not mean you are financially fit. Low monthly minimum payments benefit the credit card company, the “minimum amount due” is cleverly calculated to keep you trapped in debt for your entire adult life. Do you really want to spend the best […]
Maryland Enacts Foreclosure Mediation Law. On April 13, Maryland Governor Martin O’Malley signed a law (H.B. 472) giving homeowners the right to mediate foreclosure with a neutral third party and requiring lenders to conduct loss mitigation analyses before foreclosing home loans. The law applies to 1-4 family residential properties occupied as the borrower’s primary residence […]
