In troubled economic times, virtually no one is immune to financial difficulties. Even Maryland residents who have worked hard to amass a solid base of income and assets can be at risk of serious financial strain. For many, the most sure path back to financial stability lies within the Chapter 13 discharge process. Understanding the steps that come between filing and discharge can help make it easier for individuals and families to determine if this is the appropriate solution.
Many Maryland readers are aware that high levels of medical debt can lead to serious financial difficulties. However, few understand how researchers compile the data needed to make such a claim. The following information is offered in the hopes of clarifying the methods used to determine which financial stressors can contribute to the decision to file for consumer bankruptcy, and the role that medical debt plays in that process.