Government Shutdown Crisis Budgeting

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

budget tools

Here we go again.  With Federal Employees not knowing when they will get their next paycheck due to the threatened government shutdown, it is time to talk budgeting. Learn the best way to budget for a short term crisis like the government shutdown.  Federal employees and government contractors are loosing sleep worrying about the impact…

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The Next Steps In A Chapter 7

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

Chapter 7 Step 6 – Waiting: After the meeting, the Trustee and the creditors have 80 days to object to your right to a discharge. This does not usually happen, as long as your bankruptcy petition is accurate. Your attorney will handle it if it does happen.  Typically, the only extra step may be reaffirmation…

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The Next Steps In A Chapter 13

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

Chapter 13 Step 6 – Confirmation Hearing: For Chapter 13 cases only – If you file a Chapter 13 bankruptcy, a Confirmation Hearing will be held.  This is part of the negotiating game to determine if the terms of the repayment plan.  In many cases you never have to attend this hearing. The Trustee will agree to…

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The Bankruptcy Classes

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

laptop with dollar sign

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….

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How Much Debt Do You Need To File For Bankruptcy?

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

When people come into our Waldorf or Lexington Park office for a free bankruptcy consultation, there are certain questions they will ask.  One of these is “How much debt do you need to have to file for bankruptcy?”  The truth is that there is no minimum amount of debt that you are required to have…

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What Do I Need to Bring to My Southern Maryland Bankruptcy Consult

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

Dave Gormley

When people call to schedule their initial consultation in our Lexington Park or Waldorf office they usually want to know what to bring.  Our answer is “Just bring yourself”.  For the initial consult our main goal is to get an overall picture of your financial situation.  We will have plenty of time down the road…

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What Are The Different Types Of Bankruptcy?

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

man holding onto money by a thread

Sometimes when people come into our Waldorf or Lexington Park office they know exactly what type of bankruptcy they want to file. Other times a person just comes in to find out what options they may have. Even the person who thinks they know what they want to do is sometimes surprised that another type…

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Everybody Lies on Social Media—Just Ask Bankruptcy Asset Hunters

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

treasure chest

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. “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 uncover any discrepancies in their financial situation…

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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

house with up arrow

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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