Foreclosures Are About to Start Back Up in Southern Maryland

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…

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What Should You Do With Your Stimulus Check in 2021?

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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Is Bankruptcy the Answer to my Covid19 financial problems?

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

Recently, some clients have mentioned during their consults that they heard this is the “perfect” time to file for bankruptcy. While I certainly think bankruptcy is a good answer for many people, bankruptcy is not the answer for everyone. Is it a good answer for you? Like so many things in life the answer to…

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Will I Ever Be Able To Buy A House After Bankruptcy?

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

When someone here in Southern Maryland comes to me to file for bankruptcy they sometimes ask if they will ever be able to get a mortgage to buy a house. Many people just assume they never will be able to qualify for a mortgage in Maryland after filing a bankruptcy. That just isn’t true. I…

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Bankruptcy & Your Credit – How to Rebuild It

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

Filing for bankruptcy will probably not affect your credit as much as you think. If you are in a situation where bankruptcy is an option, your credit is probably bad already. So a bankruptcy may not do nearly as much damage as you may think. All credit reports will show your bankruptcy for a period…

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It is Better to File Bankruptcy Sooner than Later

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

The main reason to get a free bankruptcy consultation is to figure out your options. Once you know your options you can make informed, intelligent decisions. What about waiting? Is that an option? Why take action now? What many people do not know is that IF you are going to have to file for bankruptcy,…

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Listing Pets As Assets in Bankruptcy Cases

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 2 minutes

What do a Great Dane, a college visit, and a Yorkie have to do with bankruptcy?  No – it’s not about how expensive college and vet care have become (although that would be a good answer!) My screen saver in my office shows family pictures.  When the picture of our Great Dane pops up, the…

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Preparing For Your Chapter 13 Trustee Meeting Of Creditors

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 10 minutes

This page is for our current bankruptcy clients. We created it to help prepare them for a formal meeting called a 341 meeting of creditors in a Chapter 13 case. (Click Preparing for Your Chapter 7 for a similar article) A typical bankruptcy case does not involve a lot of confrontation. The one place it…

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Preparing For Your Chapter 7 Trustee Meeting Of Creditors

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 9 minutes

This page is for our current bankruptcy clients. We created it to help prepare them for a formal meeting called a 341 meeting of Creditors in a Chapter 7 bankruptcy. (Click Preparing for Your Chapter 13 for a similar article) A typical bankruptcy case does not involve a lot of confrontation. The one place it…

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What Should You Do With Your Government Stimulus Check?

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

As a bankruptcy lawyer in Southern Maryland, I know people will be asking me what to do with their government stimulus check. To make sure I was ready to answer this question, I figured I would look at what advice financial experts are giving. The advice I read seemed to be the same advice that…

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