by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 5 minutes
Here we go again. The government shut down is scheduled to start October 1. Federal employees may soon be unsure about when they will get a paycheck. This one could last a long time. What is the best way to budget for a short term crisis like the government shutdown? As a bankruptcy attorney in…
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: 3 minutes
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…
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…
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,…
by Dave Gormley | Posted in Civil Law & Consumer | Reading Time: 7 minutes
You did it! The taxes are done. It is tempting to shove it all in a file cabinet and forget about it until next year. Don’t do that – yet. Have you ever looked at all that information in your taxes? You should! It can be very valuable if you want to get healthy –…
by D'Erra Jackson | Posted in Family Law | Reading Time: 4 minutes
Each tax filing season can bring up thorny issues that will affect couples long after they’ve separated. Unless ex-spouses can set aside their differences, one or both partners will often end up overpaying. For example, one tax preparer in a Wall Street Journal story told of a tax return he did where the wife was…
by Dave Gormley | Posted in Bankruptcy & Foreclosure | Reading Time: 4 minutes
As a bankruptcy lawyer in Southern Maryland, I know people will be asking me what to do with their government stimulus check. To make sure I was ready to answer this question, I figured I would look at what advice financial experts are giving. The advice I read seemed to be the same advice that…
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…
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