by blackfin | 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...
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...
by blackfin | 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...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes
Before they file for bankruptcy, people often want to know, How long does a bankruptcy stay on your credit report? The simple answer is that a Chapter 7 bankruptcy appears on your credit report for 10 years after the date you file. Chapter 13 lasts for seven years from the filing date. That sounds scary....
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes
Bankruptcy asset hunters are just now discovering what many Facebookers have known for a long time: not everything is as it seems on social media. In fact, people often just plain lie! “Asset hunting” is a special job in bankruptcy cases. When an asset hunter is assigned to a debtor’s case, it’s their job to...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 minutes
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...
by Tucker Clagett | Posted in Bankruptcy & Foreclosure | Reading Time: 6 minutes
The Federal Eviction Moratorium was recently stricken down by the Supreme Court. Thousands of tenants in Maryland are subject to eviction. Congress has done nothing to renew it, so there is no federal lgal protection from eviction right now. If you, or someone you know, is subject to an eviction because they fell behind on...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 minutes
Here in Southern Maryland most people would find it impossible to work or even live without a car. For most people it is critical to know what they have to do to keep their car when they file for bankruptcy. If that car has a loan on it you also need to understand the steps...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes
The Maryland and Federal Foreclosure Moratoriums are scheduled to end June 30th, 2021. So, starting July 1st the mortgage companies can start sending out new Notices of Intent to Foreclose. These notices are the start of the foreclosure process in Maryland. If you are behind on you mortgage do not wait to get this notice...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 2 minutes
Last year in 2020, I wrote an article about what to do with your government stimulus check. We’ve gotten two more since then, and my advice has changed. Last year the right answer was to save it as an emergency fund for the coming pandemic, and to use it to pay down debt if you...
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