When you file for Chapter 7 or Chapter 13 bankruptcy, one of the first major steps in your case is the Meeting of Creditors, also known as the 341 meeting. Many people feel nervous when they hear the term, but the meeting is usually simple, short, and far less intimidating than it sounds. In most cases, it lasts about 5–10 […]
Americans added $18.4 billion to their debt load in the second quarter, a 66% increase from the debt they accumulated in the same quarter last year and 368% more than they tacked on in 2009, according to credit card research firm CardHub.com. In fact, the last time consumers charged up this much debt during this […]
I want to give you all an idea of the bankruptcy process. I’ll try to keep this simple and cover only the “normal” case and not cases involving objections from creditors and other complications. Once you’ve chosen a Maryland bankruptcy attorney, provided all of the documentation requested, and paid the required fees, it’s time to […]
Hi folks. Most people who need to file Chapter 7 Bankruptcy in Maryland have heard of it, and no a little bit about it, but don’t know how it works. Well, here it is, the process, which is pretty much the same in every case. Once you decide that you want to file Chapter 7 […]
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 […]
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 […]
