by Dave Gormley | Posted in Civil Law & Consumer | Reading Time: 4 minutes
This is a cautionary tale. Read this to find out what NOT to do for your children. You can be forced to pay for the divorce and child support debts of someone else, if you do this one very common thing. What if you suddenly had your entire life savings drained dry due to your...
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...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes
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 to do to keep your car. If you...
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...
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...
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...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 6 minutes
Even if you have been keeping up with your bills, now is the time to do some emergency budgeting. Nobody knows how bad this will get. (Things have been changing fast. This post was published on March 14th. Not even a week later bars and malls were closed. Now the problem is even bigger. Unemployment...
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes
Filing for bankruptcy may help you deal with your tax problems. While it is difficult to discharge tax debt, it is not impossible. If your tax debt is old enough, bankruptcy can help eliminate or reduce how much you have to pay back on your taxes. However even when the bankruptcy doesn’t discharge the tax...
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...
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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