Understanding unfamiliar bankruptcy terms
Bankruptcy is a scary prospect for many consumers. However, it is not necessarily as bad as you might imagine. Its purpose is not to ruin your financial prospects forever. Rather, it is to help you rehabilitate your financial situation. As a consumer, there are...
How can I prevent medical debt?
Injuries and illness can strike just about everyone, which is why it is so important to have the right health coverage in place. However, even with health insurance, you might find yourself mired in medical debt. Here are a few ways to prevent accruing debt, even when...
Who is at risk for high medical debt?
There is no denying that the cost of medical care is way too high. One serious illness or injury can put your family in serious financial trouble. This is true even if you have medical insurance. The out-of-pocket costs seem to only be going up. This poses a huge...
What are some basic facts about discharging tax debt?
The intimidating power of the IRS can make it seem there is no way to escape the burden of mounting tax debt even with bankruptcy. However, that is not the case. It is possible to successfully discharge some tax debt by going through bankruptcy in Maryland, though it...
How are credit scores calculated?
A great credit score can get you great interest rates on loans, help you secure employment, and even make the dream of owning a home a reality. There are a lot of different factors looked at when calculating a credit score, each of which gives an indication of your...
What can be discharged after Chapter 7?
If you are filing for Chapter 7 bankruptcy in the state of Maryland, you are probably looking to understand the whole process. While you will be counseled thoroughly throughout the bankruptcy process, it is also important for you to know what happens after you leave...
After a divorce, your credit may take a hit
Many things change when you get a divorce in Maryland. You have to learn to live as a single person again. You need to parent your children by yourself. You may have to move. There may also be a change to your credit report. It is not uncommon to have a drop in your...
What happens during a Chapter 13 bankruptcy?
Many people in Maryland and elsewhere assume that bankruptcy is all the same – that you apply for a personal bankruptcy, get a discharge of your debts and start over with a clean slate, albeit a mark on your credit report for several years. However, bankruptcy is not...
What should I know about filing taxes during bankruptcy?
Filing your taxes is often confusing. It becomes even more so after filing bankruptcy in Maryland. There is one part of the tax law that may concern you a little in regards to your bankruptcy and the discharged debts. According to U.S. News and World Report, the IRS...
Applying for certain jobs may require a credit check
Filing for bankruptcy protection in Maryland may require planning for the future. A potential employer may run a credit check on job applicants before making a hire. This may be in spite of the Old Line State's Job Applicant Fairness Act which prohibits employers from...
