Rockville Bankruptcy Law Blog
What are some of the reasons Americans file for bankruptcy?
Overwhelming medical or health-care expenses are the causes behind two-thirds of the individuals filing for bankruptcy protection in Maryland and across the nation. If you are contemplating bankruptcy because of medical reasons, you are joined by approximately 530,000...
read moreChapter 7 bankruptcy: the pros and cons
Those who find themselves unable to pay off their debts in Maryland may find themselves faced with the difficult decision of whether or not to declare bankruptcy. There are two types of bankruptcy that individuals typically file under: Chapter 13 and Chapter 7. The...
read moreWhat are your options when a collection agency purchases your credit card debt?
At times, credit card debt can get out of hand. If you are behind on your credit payments and a collection agency purchases your debt, you will likely receive calls to settle your debt. The federal government and Maryland do protect citizens against harassment from...
read moreIs chapter 13 a good choice for low income households?
If you are having trouble paying your debts, filing bankruptcy in Maryland may be your best option. While you have options for the type of bankruptcy you can file, Chapter 13 gives you the option of working out a plan to keep the assets you have securing debts, such...
read moreGetting an early handle on credit card debt
As a recent graduate or young professional, you have much to look forward to in life. However, when you accumulate significant credit card debt in your 20s, you may contemplate your options for seeking financial relief from such a substantial burden. Whether due to a...
read moreWhat are you options when you face foreclosure?
Owning a home is a source of pride for many Maryland residents, but the reality is that life and your financial situation are not always within your control. If you lose your job, find yourself facing excessive living expenses or have had a serious change to your...
read moreNew bill seeks to provide a way to discharge student loan debt
Maryland residents help make up the millions of Americans who struggle under crushing student loan debt. According to NBC Universal, more than $1.5 trillion dollars is owed by more than 44 million Americans. It is extremely difficult to discharge student loan debt...
read moreHow does Chapter 7 bankruptcy work in Maryland?
If you are struggling financially, filing bankruptcy under Chapter 7 in Maryland may be a solution. According to the United States Bankruptcy Court District of Maryland, Chapter 7 allows you to liquidate your assets in order to pay your debts. But it can be...
read moreIs home loan modification right for you?
Are you behind on your mortgage and struggling to keep up with payments? Home loan modification could provide a solution by extending your loan term, lowering the interest rate and/or forgiving late fees and penalties. If you cannot afford a mortgage and are unable to...
read moreWhat is the statute of limitations on debt?
When you fail to make a payment on a credit card, your account goes into default. This means that you are no longer current and now you have an overdue debt. Your creditor can take you to court to make you pay the debt. However, there is something called the statute...
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