Filing for Chapter 13 bankruptcy in Maryland can be a complex process. Understanding what to expect can help you navigate it with more confidence. Chapter 13 bankruptcy allows individuals with a regular income to create a plan to repay all or part of their debts....
Chapter 13 Bankruptcy
Does Maryland have the highest rate of bankruptcy filings in the U.S.?
How does our state stack up against others when it comes to the number of bankruptcy filings? While Maryland does not have the highest rate of bankruptcy filings, the state still falls within the top 25. If you find yourself facing overwhelming debt, you are not alone...
Should I file for bankruptcy?
According to the United States Courts, the number of bankruptcies filed in the U.S. in 2022 dropped to 387,721 from 413,616 the year before. Even though it looks like fewer people are taking this path, filing for bankruptcy may still be the best option for you. Making...
Evaluating if Chapter 13 bankruptcy is the right choice
Financial crises can be overwhelming and challenging. In such situations, individuals may consider different debt relief options. One of these is filing for Chapter 13 bankruptcy, a legal process that allows individuals to restructure their debts and pay them off over...
Responsibilities of a chapter 13 trustee
A bankruptcy trustee plays a pivotal role in Chapter 13 bankruptcy cases. Appointed by the United States Trustee, the trustee manages the debtor's repayment plan, ensuring that the process follows federal regulations. There are several responsibilities that the...
How long does filing a Chapter 13 bankruptcy take?
Bankruptcy is often a tool that may help you get out of a tricky situation. Your situation is unique, which means you need to understand which bankruptcy option fits your needs the most. Chapter 13, as the United States Courts describes, is an option that offers you...
How are Chapter 7 and Chapter 13 bankruptcies different?
Many people across Maryland struggle to stay on top of their finances, so if you find yourself facing similar circumstances, you are not alone. After considering your options, you may decide that filing for bankruptcy might give you your strongest chance of digging...
The 341 meeting is an early stop in your bankruptcy journey
Soon after you file for Chapter 7 or Chapter 13 bankruptcy, you will attend the 341 meeting. You may feel a bit anxious, wondering what this is all about. Be assured that this meeting is a good first step on your journey to a better financial future. Naming the...
Is Chapter 13 better than Chapter 7?
The biggest difference between Chapter 7 and Chapter 13 bankruptcy is you repay debts in Chapter 13 through a payment plan. This fact may lead some people to believe that makes Chapter 13 a better option. According to U.S. News and World Report, since both are still...
How can you treat your credit card after bankruptcy?
Falling into debt often serves as one of the most difficult points of your life, and getting back out of it can take a lot of time and effort. Needless to say, once you get back out of it, you want to do everything in your power to keep from falling back. Some areas...
