When most people in Maryland think about Chapter 7 bankruptcy, they only consider the benefits that are available to individuals who are looking to eliminate personal debt. Chapter 7 is also a powerful tool for certain business owners, and it gives some the chance to combine a personal and business bankruptcy into one process. Individuals who are sole proprietors of their enterprises should take the time to understand how Chapter 7 bankruptcy protection could work for their unique sets of circumstances.
As the holiday season continues, many Maryland families struggle with finances. The pressure to purchase gifts, attend celebrations and create memorable holiday feasts is enormous. When there is already financial strain in place, the end of the year can escalate the matter. Many people will give their finances a close look this holiday season and consider whether consumer bankruptcy is the best way to begin the New Year. The following tips are offered to give families the ability to make it through the season without incurring additional debt and to provide a road map for the years to come.