Providing Cost Effective Legal Solutions

The Law Offices of Richard B. Rosenblatt, PC
Call Today for a Free Consultation
Local: 301-637-0402Toll Free: 866-930-0413
Creative, Aggressive, ExperienceD... We Solve Legal Problems
Menu View Our Practice Areas Menu In This Section

Study notes tax season spike in consumer bankruptcy filings

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.

Excessive medical and/or credit card bills can strangle an individual. When a person has a significant amount of these types of debt, a large portion of his or her income may be dedicated to bills alone. This can create various challenges, such as causing an individual to be unable to put money away for important purchases and/or retirement.

An individual who is experiencing significant financial difficulties may want to consider filing for Chapter 7 bankruptcy. Consumer bankruptcy can help eliminate some debts, such as medical expenses and credit card debt. Since the process can be complex, an individual in Maryland may speak with a an experienced attorney for assistance in securing a better financial future.

Source: USA Today, "When a tax refund means bankruptcy", Sean Pyle, April 3, 2017

No Comments

Leave a comment
Comment Information
Contact US Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

The Law Offices of Richard B. Rosenblatt, PC
30 Courthouse Square Suite 302
Rockville, MD 20850

Toll Free: 866-930-0413
Phone: 301-637-0402
Fax: 301-838-3498
Rockville Law Office Map

The Law Office Of Richard B. Rosenblatt, PC