Rockville Bankruptcy Law Blog
A deed in lieu of foreclosure may stop foreclosure
When faced with foreclosure on a home, any idea may sound like a good idea. Is a deed in lieu of foreclosure one worth pursuing or will it only cause more problems for homeowners? Honestly, getting a bank to agree to a deed in lieu of foreclosure may prove difficult...
Is it possible to foresee a bankruptcy in your future?
While bankruptcy can be incredibly helpful when you have financial trouble, it is best to avoid financial difficulties completely. Filing bankruptcy can prevent you from losing more money and keep you from incurring judgments against you, but it also takes time and...
When does credit card debt affect a relationship?
When it comes to dating and marriage, finances can be a deal-breaker. Poor financial management can seriously damage a relationship. When a person struggles with credit card debt, it can lead to other partners finding him or her undesirable. Fortunately, there are...
What is a home loan modification?
If you struggle to pay your mortgage, you can ask your lender to modify your home loan. This process, called mortgage loan modification, may provide lower payments, a lower interest rate or a combination of the two. Explore this program to learn whether it may help...
How secured and unsecured debt differ
People struggling to stay on top of their debt may have a mix of different types of bills to pay. These may include medical bills, credit card debt, automobile loans and more. Not every type of debt is the same and consumers should learn about the two primary forms of...
Can extra mortgage payments help avoid foreclosure?
If you experience a boost in your personal fortunes thanks to a job raise or an inheritance, you may decide now is a good time to pay more on your mortgage so you can finish paying it off more quickly. While paying off your mortgage faster can be a good thing, making...
Car repossessed? Bankruptcy may still make sense.
Having a car repossessed due to missed loan payments can make a troubling situation feel impossible to overcome. If a lender repossesses a vehicle, is there any point in still filing bankruptcy? Oftentimes, yes, and quickly if one hopes to get the car back. Many...
New Reorganization Bankruptcy Option for Small Business Debtors
There is a brand new streamline Chapter 11 case for a small business debtor reorganization case. Subchapter V of Chapter 11 allows a streamline approach for business reorganizations that is a hybrid between an individual Chapter 13 case and a more involved Chapter 11...
The emotional effects of living with debt
Not all debt is bad. In fact, some debt increases your net worth or has future value - like taking out a mortgage. But even if your debt isn’t necessarily the bad kind, it still doesn’t feel good to live with. The average American household has $134,643 in debt, and...
How millennials are financially worse off than older generations
Millennials catch a lot of flak for their avocado toast and selfie-obsessed culture, but you may want to cut them so slack. Millennials are more financially behind than any generation that came before them, causing them to delay life milestones and even rely on their...
