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When you file for Chapter 13 bankruptcy in Maryland, the court uses specific rules to determine what you can afford and what creditors must receive. As a regular wage earner, you may be wondering how much you actually have to pay each month. Your Chapter 13 repayment...
Nobody approaches bankruptcy without some measure of anxiety. The system is unfamiliar, and the stakes are high. Knowing what you can do to make the process go more smoothly is one way to manage. The following things cannot guarantee that your application will...
Everyone's financial situation is unique, so every bankruptcy filing will have its own specific basis. Not everyone's financial picture looks the same. That being said, there are a few common reasons that drive many bankruptcy filings. It can be helpful to understand...
Filing for business bankruptcy is a significant decision that can impact your finances, operations, and future opportunities. Business bankruptcy is not always the end of a company since in many cases, it provides a structured way to manage debt, protect assets, and...
Bankruptcy offers immediate protection from creditor collection efforts through an automatic stay. Filers can also eliminate the legal obligation to repay eligible debts through the discharge granted at the end of the process. Most people choose between Chapter 13 and...
If you’re struggling with debt and wondering whether you can file for bankruptcy without your spouse, you’re not alone. It’s a dilemma many couples face since financial obligations often intertwine in marriage. In Maryland, the short answer is yes. One spouse can file...
Creditors who get their debts discharged by the courts can breathe easily that the worst is over. Their path to financial recovery seems sure. But could that relief be short-lived? Can bankruptcy courts ever revoke the discharge of debts that they granted? Courts can...
Once you realize that your debts are more than you can handle, you may decide that you need to file for bankruptcy. This doesn’t automatically do away with all the debts you have. Instead, you will have to determine if you’re eligible to file Chapter 7 or Chapter 13...
When filing for Chapter 7 bankruptcy, most debts are discharged, providing a fresh financial start. However, some choose to sign a reaffirmation agreement – a voluntary contract to continue paying a debt even after bankruptcy. These agreements are most often used for...
One common misconception that people have about bankruptcy is simply that it is their own fault. In fact, this can become very problematic. Some people will blame themselves and feel guilty about filing for bankruptcy in the first place, causing them to avoid using...