When you think of bankruptcy, you may have visions of losing everything you own. Media depictions often involve people forced to sell homes, cars, jewelry and other valuables to pay outstanding debts. However, this is not the case, especially if you file for Chapter...
How may a Chapter 13 bankruptcy plan work repay my debts?
Debtors with steady income may qualify for a Chapter 13 bankruptcy. As described by CreditKarma.com, you may personalize a three-to-five-year payment plan to repay creditors. This may provide a workable option to restructure your debts by consolidating them into an...
How long may it take to pay debts through a Chapter 13 plan?
Chapter 13 bankruptcy is available for filers who earn regular income. As noted by the Administrative Office of the U.S. Courts, if you qualify, a Maryland bankruptcy court may work with you to create a payment plan that typically lasts between three and five years....
How are Chapter 7 and Chapter 13 bankruptcies different?
Many residents of Maryland have a hard time staying on top of their bills and finances. If you are among them, you may be thinking about filing for personal bankruptcy. Most who do so move forward with either a Chapter 7 or a Chapter 13 filing, but there are some key...
How long does bankruptcy affect your credit?
Bankruptcy is a legal proceeding designed to help people eliminate or reorganize insurmountable debt. But while bankruptcy provides many with the clean slate they need to get back on track, it isn’t without consequences. Bankruptcy can impact your credit score more...
Chapter 13 bankruptcy can help struggling consumers start over
Bankruptcy can get a bad reputation. When people hear of someone they know filing for bankruptcy, some people assume that money mismanagement is the root cause. However, many fall into financial despair due to circumstances beyond their control. Whether it be divorce,...
Understanding how to pursue relief through a wage-earner plan
Going through prolonged periods of financial strain can be stressful under any circumstance. Unfortunately, it may take little more than a single medical emergency or sudden change of employment to leave a person facing high amounts of debt. For individuals in...
Wage-earner plan: Purchasing or leasing a home after bankruptcy
When facing prolonged periods of financial hardship, individuals in Maryland and elsewhere may have certain reservations concerning the available options for relief. Those who have thought about pursuing relief through a wage-earner plan might wonder about the impact...
Considering a wage-earner plan when facing foreclosure
Constantly dealing with the burdens of debt can be stressful and daunting, prompting many individuals to seek guidance in the process. In addition to countless calls and letters from creditors, those who face such hardships may also struggle in other areas of life,...
Seeking financial relief through a wage-earner plan in Maryland
Personal debt can come in various forms, sudden and gradual alike. An unexpected trip to the hospital can be financially devastating. On the other hand, perhaps a person used a credit card on too many occasions, eventually leading him or her into dire financial...
