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Personal and Business Bankruptcy: Chapter 7, Chapter 11, Chapter 13

Bankruptcy Articles

Credit Counseling Instead of Bankruptcy

Getting the help of a neutral party in assessing a financial situation, advising on budgeting and spending practices, and negotiating with creditors can be instrumental in getting someone back on their feet financially without going through bankruptc… Read More
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Credit Counseling and Debtor Education Requirements in Bankruptcy

U.S. bankruptcy law requires anyone filing for Chapter 7 or Chapter 13 bankruptcy to both receive credit counseling prior to filing and complete a debtor education course prior to the final discharge of debts. Many people are confused by the two and… Read More
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When Should a Maryland Business Consider Bankruptcy?

Bankruptcy is often thought of as the last option for a business. It is often perceived as throwing in the towel and giving up. Some situations do indeed call for nothing short of Chapter 7 bankruptcy and closing the doors. But that’s not always th… Read More
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More & More Physicians Filing Bankruptcy & Closing Private Practices as Economy Continues to Be Tough

A recent article from CNN highlighted a growing trend of private-practice physicians filing for bankruptcy. The trend appears to arise out of continuing tough economic conditions within the industry that make it harder and harder for doctors to kee… Read More
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Don’t Risk Perjury by Concealing Assets in Bankruptcy — Important Assets can be Preserved through Exemptions

Sometimes it is tempting for a debtor in bankruptcy to hide assets from the bankruptcy trustee and court, which means not including them in the schedule of assets or schedule of exemptions and not telling the trustee about them. It may be because the… Read More
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When is it Time to File Personal Bankruptcy?

Most people don’t like the idea of filing for bankruptcy, even when debt issues are snowballing, causing them to lose sleep, and threatening their physical and emotional wellbeing. It is commonplace for debtors to think they just aren’t trying ha… Read More
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Stop Credit Card Lawsuits By Filing for Bankruptcy

When a credit card company files a lawsuit against a debtor, the debtor needs to take immediate action to stop that lawsuit. If the credit card company succeeds in obtaining a judgment against the debtor, they can then put a lien on any property owne… Read More
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When Debts and Financial Stress Threaten Health, Bankruptcy May Be in Order

Many people who desperately need the financial break that bankruptcy can offer refuse to consider it as a solution. Most often this is because of the centuries-old stigma that is associated with bankruptcy. This stigma arose through a misunderstandin… Read More
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Alternatives to Bankruptcy in Maryland: Assignment for Benefit of Creditors

Sometimes a business may find itself failing with closure of the business imminent and creditors pounding on the door, but filing Chapter 11 or Chapter 7 bankruptcy isn’t a possible or practical solution for settling up with creditors. For some com… Read More
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Categories: Maryland Bankruptcy

Debt Consolidation vs. Chapter 7 Bankruptcy, Part 2: When Bankruptcy is Better than Debt Consolidation

This article is a continuation of our previous article, “Debt Consolidation vs. Chapter 7 Bankruptcy, Part 1: Advantages and Limitations of Debt Consolidation.” In that article we discussed when debt consolidation may be a good alternative to b… Read More
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