Chapter 13 bankruptcy can provide a way for individuals to reorganize their debts and create a plan to repay them over three to five years. While this can be a lifeline for those struggling with debt, it can also lead to higher interest rates on future loans. Several...
When debt becomes overwhelming, individuals and businesses can wonder which path to take to regain financial stability. Common options include filing for Chapter 7 bankruptcy and seeking debt settlement. While both promise debt relief, they differ in process, benefits...
A home loan modification can have lasting effects on your credit score in Maryland. Your credit score influences various aspects of your financial profile and future borrowing opportunities. Initial credit score impact Applying for a home loan modification may cause a...
If your business is in serious financial trouble, filing for Chapter 11 bankruptcy could give your enterprise a fighting chance to survive by reorganizing your company and your debts. Creating a reorganization plan for your business is part of this process. While you...
Dealing with overwhelming credit card debt can be a daunting challenge for many Maryland residents. However, a few effective strategies can help you manage this financial burden. Create a budget Start by listing all your sources of income, including salary, bonuses,...
A short sale happens when a homeowner sells their property for less than the amount owed on the mortgage. This process can help in certain situations, but it also has drawbacks. Short sales typically occur when homeowners cannot keep up with their mortgage payments....
Chapter 13 bankruptcy offers a way for people to restructure their debts and create a manageable repayment plan. In Maryland, as in other states, it is possible to finish a Chapter 13 bankruptcy repayment plan early under certain conditions. Understanding these...
It is natural to feel worried about approaching your lender to alter your mortgage terms due to financial hardships that impair your capacity to make payments. However, if your bank rejects your application for a modification, you should not feel discouraged or...
College is often a time of growth, learning and exploration. However, for many students, it also marks the beginning of a journey fraught with financial challenges. One can be managing credit card debt. 1. Lack of financial education Many college students enter higher...
Running a small business can be a dream come true. But sometimes, even the best dreams hit rough patches. Unexpected expenses, slow sales or a tough economy can leave a business buried in debt. If you are a small business owner facing financial hardship, Chapter 7...
