Large Tax Bills Are A Sign You May Need To File Bankruptcy

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

Most people we meet with for a bankruptcy consultation have done anything and everything they possibly could to avoid filing for bankruptcy.(that bankruptcy consult is free, by the way) Often, “anything and everything” includes increasing their tax allowances and exemptions at work so payroll will start withholding less money from their paycheck. If not done...

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The Mortgage Debt Forgiveness Act Is Back! And Gone?

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

At the end of 2019 the Mortgage Debt Forgiveness Act was reinstated.  Unfortunately, this has not received any media attention.  From the bankruptcy cases we handle we know there were a lot of short sales and foreclosures in Southern Maryland the last two years.  Therefore, we know it is important to get the word out....

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The Baltimore Trustee Meeting Room

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

  Ok, we are going to the Court House, but we are not going in front of a Judge.  The Court House is bordered by Pratt, Hanover, Lombard and Hopkins.  The entrance faces Lombard Street where the two wings meet at a “V”.  For parking it is best to plan on paying for a garage....

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Short Sales & Bankruptcy Advice

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

Dave Gormley discusses short sales, bankruptcy, taxes and more with Southern California Realtor Connor MacIvor. There are several things that you should watch out for when approaching anyone when wanting to short sale a residence. What type of loan do you have? Was all the money borrowed used on the primary residence? Have you taken out money to...

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How to Get to the Greenbelt Bankruptcy Court

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

6500 Cherrywood Lane, Greenbelt

Navigating Bankruptcy Procedures: Your Journey to the Courthouse When you file for bankruptcy you often only have to attend one meeting. If you live in Southern Maryland this means going to the US Trustee’s office in Greenbelt.  However if we have to attend a bankruptcy hearing you will be going to the Court House.  For...

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Should I Request Maryland Foreclosure Mediation?

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

Foreclosure mediation in Maryland.

Requesting Foreclosure Mediation in Maryland When someone comes into our Waldorf or Lexington Park offices for a foreclosure consult, they often have a packet from their mortgage company that includes the Maryland Foreclosure Mediation Op-In Form.  Many people ask if going to mediation is worth the $50 fee. The answer is it may be worth...

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Closing Your Chapter 13 Case

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

Hopefully you are reading this because you have made it to the end of your Chapter 13 Plan.  Maybe you just got the Notice of Completion of Plan Payments.  Now it is time to get your discharge and have your case closed. Congratulations.  A Chapter 13 Plan is not an easy thing to complete. Notice...

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My Chapter 13 Plan is Confirmed, What Comes Next?

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

Now your plan is confirmed you still have to complete the plan.  In most cases there are five years of payments.  However, the five years runs from the filing of your case, not when it is confirmed.  So that finish line has gotten closer while we were negotiating with the Trustee over the payments. You...

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Who’s Calling? That Debt Collector Could Be A Fake!

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

scam warning sign

(Originally published in 2013, and updated in 2019, because it keeps happening!) In the last year, we have gotten several calls from clients who have gotten calls from debt collectors threatening them with jail time. Some of these clients had already filed for bankruptcy so they knew something was wrong, but they were still upset....

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Not Getting That Tax Refund You Were Expecting?

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

Some people count on their tax refund to pay for their summer vacation or swimming pool membership. However, many others count on their refund to help them get caught up on their credit cards and other bills. When you file for bankruptcy you have to count as an asset the tax refund that you are...

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