Can You Keep Your Car When You File For Bankruptcy?

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

 What Happens to Your Car in Bankruptcy? If you live in Southern Maryland it is hard to make do without a car. Because of this one of the things we do when you come in for a free initial bankruptcy consult in our Waldorf or Lexington Park offices is figure out what you have...

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Three Ways to Stop an Eviction in Maryland in 2021

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...

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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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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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