What You Need To Know About Chapter 7 Bankruptcy In Maryland
Stopping Debt Harassment: What You Should Know about Chapter 7 Bankruptcy in Maryland
As a Baltimore bankruptcy lawyer with over 14 years of experience, I often counsel clients who are considering Chapter 7 bankruptcy in Maryland. In Chapter 7 bankruptcy, many of your debts will be cancelled in exchange for giving up some of the property you own. If you are considering pursuing bankruptcy and want to stop debt harassment from your creditors, read ahead for some important, basic information on Chapter 7.
Will I Have to Give Up Everything I Own?
Although some of your property may be sold in order to pay off your creditors, many people find they are able to retain much of the property they own. Some items may also be exempt in Chapter 7, such as the tools you use for work.
When you’re considering Chapter 7 bankruptcy, however, it’s important to remember that some types of debts survive bankruptcy—even after you have given up your non-exempt property. An example of this might be child support or spousal support payments that you owe.
Who Can File for Chapter 7 Bankruptcy in Maryland?
While Chapter 7 bankruptcy can be a powerful tool for stopping debt harassment and getting back on your feet, it isn’t necessarily right for everyone. A lot will depend on your personal financial situation and if you have filed for bankruptcy in the past. A Baltimore Chapter 7 attorney can explain more and help you determine if you qualify.
How Can I Get Help?
If you are struggling with debt and need help, our Baltimore bankruptcy attorney has the answers you need. Meet with James Logan in a completely free, no-obligation consultation, and learn more about our Fresh Start Program, which will walk you step by step to a stress-future. Once you have decided to file for bankruptcy, we can also work to quickly stop debt harassment in Maryland and even keep your utilities on.
For more information about Chapter 7 bankruptcy in Maryland and whether it is right for you, please request your FREE copy of our important book Getting Out of Debt—The Truth About Debt Consolidation Bankruptcy and Debt Relief. You can receive your FREE copy by simply giving us a call at (410) 243-1508 or filling out our easy online contact form!