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...
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...
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,...
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...
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...
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...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes
When you file for bankruptcy in Southern Maryland you need to take two classes. They can be done online or over the phone. There is a Credit Counseling Class that you take before you file. After you file, you need to complete the Debtor Education Class so your case will be closed with a discharge....
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes
One of the first questions people ask about bankruptcy is “What do I get to keep?” To figure out the answer to this question you need to have and understanding of bankruptcy exemptions. Bankruptcy exemptions set out what assets you are allowed to protect or keep when you file a bankruptcy. If you have lived...
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...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes
There is a lot of help available for those Maryland homeowners who face foreclosure. There are a lot of federal laws too. To be honest, many of these government programs are not as helpful as they were meant to be. Some only consider people in a very narrow set of circumstances. Some are narrow in...
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