Bankruptcy is a legal process offered to persons that cannot repay their debts. It is a way for a person, under the protection of the law, to get a fresh start financially without the burden of preexisting debt. Bankruptcy can stop house foreclosures, car repossession, and wage garnishment. Bankruptcy status also protects a person from […]
The circumstances that lead to personal bankruptcy are never easy. Frequently, expensive medical care is to blame. Perhaps a business didn’t meet its financial goals, or maybe a person lost their job and couldn’t keep up with the bills. In some situations accidents or even natural disasters can lead to insurmountable credit problems. However, filing […]
If you live in Maryland and are facing serious credit problems, you might be considering filing for bankruptcy. Federal law changed in 2005, and it is important to be aware how these changes affect anyone considering bankruptcy filing. As you can see below, the steps to filing for bankruptcy in the State of Maryland are […]
Due to the complexity of bankruptcy law, there are attorneys that focus their practice on bankruptcy. For personal bankruptcy, you are not required by law to have legal representation. However, the smart thing to do in complex situations is get professional help. Stress Relief One of the most important jobs of the bankruptcy attorney is […]
If you are at or nearing the point of declaring personal bankruptcy you may be feeling scared, confused, angry, or sad. The information available in the media and advice you may get from friends and family is overwhelming and much of it negative. What follows are some of the common myths of bankruptcy and the […]
If you are unable to pay a debt, the course of last resort for a creditor is to garnish your wages, meaning money is taken out of each paycheck and given to creditors. It is possible for you to stop wage garnishment.
When filing for bankruptcy, there is a way to get rid of a mortgage loan. There are two types of bankruptcy; Chapter 7 and Chapter 13 that take into account different types of mortgage debt. What is a mortgage? A mortgage is a loan; it is a legal agreement signed through a bank or other […]
The bankruptcy process is demanding and emotional. Bankruptcy is designed to provide a new start, but keep in mind that the process is complicated. What follows are the top five things to do before filing for bankruptcy. These guidelines will make the process smoother and less stressful.
Most of us want to pay our bills. We were raised that way. As a result, too many people use up all of their financial resources before even considering filing for medical bankruptcy. Their intentions are good, but cashing out credit cards, retirement funds, college savings, or taking out a second mortgage to pay medical […]
First: Bankruptcy Will Stay On Your Credit Report For 7 To 10 Years Bankruptcy is not the end of the world. Life goes on, and you get a fresh start on your financial situation. However, be aware that a bankruptcy will remain on your credit report for some years. A Chapter 7 bankruptcy will stay […]
