Government Shutdown Crisis Budgeting

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 minutes

Budgeting crisis.

Here we go again. The government shut down is scheduled to start October 1. Federal employees may soon be unsure about when they will get a paycheck. This one could last a long time.  What is the best way to budget for a short term crisis like the government shutdown? As a bankruptcy attorney in...

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What Happens If I Can’t Make My Chapter 13 Plan Payment Due To The Government Shutdown?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes

The government shutdown is going to cause intense financial pressure on government workers and contractors who are in a Chapter 13 Bankruptcy payment plan. Individuals in a chapter 13 plan are supposed to send in regular plan payments to the bankruptcy trustee, who disburses the money to their creditors. If their paycheck is stopped because...

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Can I Be Denied for Chapter 13 Bankruptcy?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 minutes

Chapter 13 bankruptcy can be a lifeline for individuals and families looking to restructure their debts and start anew. However, potential clients often ask us, Can you be denied for a chapter 13 bankruptcy? The answer is yes. The chapter 13 bankruptcy process isn’t straightforward, and courts will reject a chapter 13 bankruptcy filing in...

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Can Bankruptcy Help With My Gambling Debt?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 minutes

As the gambling options in Maryland have continued to grow, I have seen more and more people in Charles, St. Mary’s and Prince George’s County who need to file for bankruptcy because of their gambling debts. The problem is that the number of people dealing with gambling addiction continues to grow. With the legalization of...

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Am I Eligible for Chapter 13 Bankruptcy?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes

Am I Eligible for Chapter 13 Bankruptcy?

Chapter 13 bankruptcy can provide a valuable solution for individuals struggling with debt. By allowing repayment over three to five years, Chapter 13 bankruptcy provides a way for you to get back on track financially and regain control of your finances.  When you file for Chapter 13 bankruptcy, you make payments for three to five...

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How Is a Chapter 13 Bankruptcy Payment Plan Calculated?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 minutes

Bankruptcy can be an intimidating time for individuals and families. Many myths and cautionary tales abound about what to expect during bankruptcy proceedings. While Chapter 13 bankruptcy is undoubtedly a big undertaking, it is a way for you to gather your financial footing if you find yourself overburdened with debt.  During a Chapter 13 bankruptcy,...

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Who Can Qualify for Chapter 7 Bankruptcy?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes

Chapter 7 bankruptcy offers a fresh start for individuals. If you’re struggling with credit cards or medical bills, Chapter 7 can erase your debts within a few months. However, because it discharges most consumer debts, not everyone will qualify for Chapter 7 bankruptcy.  The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) requires...

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Can You File Chapter 7 Bankruptcy on Alimony?

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes

Alimony or spousal support is not dischargeable in bankruptcy. Bankruptcy can help you manage overwhelming debt, but it will not erase domestic support obligations. Or, if you receive spousal support, you will not lose it if you file for bankruptcy. Our attorneys have been handling bankruptcy cases in Southern Maryland for over 30 years. We...

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Chapter 7 vs. Chapter 13: Understanding The Difference

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes

Filing for bankruptcy is never an easy decision. People often file for bankruptcy after a long period of financial stress. Unexpected financial troubles like a medical emergency or job loss can strain relationships and upend lives. Fortunately, the Bankruptcy Code provides individual consumers with a fresh start and a chance to reorganize and recover. Our...

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