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...
Chapter 7 Bankruptcy
How the bankruptcy means test determines Chapter 7 eligibility
For many Maryland consumers, filing for bankruptcy means a chance at a fresh start. Though not necessarily appropriate in all situations, filing for bankruptcy may help you get a better grip on your finances so that you are able to avoid falling into deep debt again...
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...
How may a Chapter 7 bankruptcy help me keep my home in Maryland?
Between 2020 and 2022, you may have qualified to place your mortgage in forbearance. After a pause in loan obligations, however, you may still find yourself unable to meet your expenses when your mortgage payments resume. The Ascent reports that only half of the about...
How may a sole proprietor file for personal bankruptcy?
Maryland small business owners operating as sole proprietorships may file for personal bankruptcy. If your business faces overwhelming financial hardships, you may file a petition for a Chapter 7 bankruptcy, as noted by Business.com. If you applied for credit cards or...
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...
Understanding the means test for Chapter 7 bankruptcy
Chapter 7 bankruptcy allows Maryland residents to discharge many eligible debts. However, you must pass the means test, which evaluates your income, assets and obligations, to qualify for Chapter 7. If you live in Maryland and struggle with mounting debt, learn more...
Bankruptcy exemptions in Maryland
Filing for bankruptcy is not something that anyone wants to do, but circumstances sometimes dictate that it is necessary. Some people think that it means losing everything to discharge debts, but there are some things that are exempt. Here are a few of the more common...
3 questions to ask yourself when you think about bankruptcy
Whether you are a single parent with children in college or a retiree with rising medical bills, keeping debts paid may be challenging. Have you thought about bankruptcy? Do you know if or when you should file? Here are a few reasons to help you decide if now is the...
4 benefits of filing for bankruptcy
Significant debt can happen to anyone, for many reasons. You may have lost your job, gone through a recent divorce or incurred significant medical debt. Filing for bankruptcy may seem like a step backward, but really, it is a way to move forward while protecting the...
