Are you feeling frustrated after your bank denied your home modification loan application? Many people find themselves in this challenging situation, wondering why a lender turned down their request for financial relief. In this blog, we’ll explore the common reasons...
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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...
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...
Business disruptions and bankruptcies in difficult times
The first half of 2020 has brought a one-two punch to many small business owners in Maryland, along with many other American families and businesses throughout the region and nationwide. First, the COVID-19 virus pandemic, which was defined as such in early March,...
3 tips for rebuilding your credit after filing for bankruptcy
People are often reluctant to file for bankruptcy because they are concerned about the impact it will have on their credit score. However, you are already taking a hit to your credit if you’ve fallen behind on your bills. Avoiding available debt relief options may...
4 ways the automatic stay can help you
When you’re struggling with debt, creditor harassment can only make things worse. Fortunately, when you file for bankruptcy protection, a provision called the “automatic stay” kicks in. The automatic stay effectively ends any actions taken against you by creditors and...
Myths about bankruptcy and divorce
For many married couples, finances are a huge area of disagreement. Especially around the holidays, differences in spending and saving habits may rise to the surface, causing this season of giving to become a season of tension. Thousands of people like you ultimately...
How can you effectively reduce your credit card debts?
Using your credit card can have many advantages including taking away the need to carry around cash and helping you to build a healthy credit score when you pay debts on time. However, for you and others in Maryland, owning a credit card can be a bit of a two-edged...
What are some ways to prevent foreclosure?
Foreclosure is not uncommon in Maryland, but if you are facing it yourself, you may feel frightened and powerless. While there are many situations that may lead to financial instability and missed mortgage payments, there are also several actions you may take that...
New 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...