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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Road Map Of A Bankruptcy Case

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

This post gives you a road map of the “usual” Chapter 7 and Chapter 13 Bankruptcy.  I wrote it to give my clients, and prospective clients, a good general outline of what to expect if you need file for bankruptcy. Of course, not all bankruptcy cases follow the usual format. Your case may take some detours...

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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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The Salisbury Trustee Meeting Room

by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: < 1 minute

The Trustee meetings for most of the Eastern Shore take place in the Federal Building in Salisbury, Maryland.  This building houses the Post Office, Federal Court House and other federal agencies. When you enter the building turn to your right and walk past the metal detector into the court room.  Yes, the meetings will be...

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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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