by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes
Like so many things in life the answer to this question is “that it depends.” The right advice for one person can be the wrong answer for someone else. A person laid off from a restaurant is in a different situation than a person who is working for the federal government. Recently, some clients have…
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 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: 3 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. …
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…
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 3 minutes
(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. …
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: 3 minutes
For the person who owns a house, the first question they may ask when they come in for a bankruptcy consult is “Can I keep my house?” The real question is “What do you have to do to keep your house?” In a chapter 7 or a Chapter 13 bankruptcy, if you don’t have any…
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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