Recent studies suggest that bankruptcy filings spike around tax season. With many individuals in Maryland receive a substantial refund during this time, there are countless ways in which to spend it. Some people may have their eyes set on a particular purchase, while others who are constantly dealing with overwhelming debt may have bills to pay. For the latter, they may find this to be an excellent time to consider filing for consumer bankruptcy.
Many people may have considered bankruptcy at one point or another, but they may not have been able to afford it at the time. Filing for bankruptcy may seem expensive at first, but the benefits of getting out from under overwhelming debt may outweigh the cost of filing significantly. Using a tax return to file for bankruptcy may help an individual eliminate certain debts and begin moving forward with his or her life.