What Happens If I Can’t Make My Chapter 13 Plan Payment Due To The Government Shutdown?

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

The government shutdown is going to cause intense financial pressure on government workers and contractors who are in a Chapter 13 Bankruptcy payment plan. Individuals in a chapter 13 plan are supposed to send in regular plan payments to the bankruptcy trustee, who disburses the money to their creditors. If their paycheck is stopped because...

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Can Bankruptcy Help With My Gambling Debt?

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

As the gambling options in Maryland have continued to grow, I have seen more and more people in Charles, St. Mary’s and Prince George’s County who need to file for bankruptcy because of their gambling debts. The problem is that the number of people dealing with gambling addiction continues to grow. With the legalization of...

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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

Foreclosure mediation in Maryland.

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. In fact, people often just plain lie! “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...

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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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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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What Are Maryland’s Bankruptcy Exemptions?

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...

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How Much Debt Do You Need To File For Bankruptcy?

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