Get A Fresh Start With Chapter 7 Bankruptcy
Thinking of declaring bankruptcy? You are not alone. Today’s uncertain financial climate finds many people and businesses dreaming of a debt-free life. With so many people left without options to regain financial control, they are turning to bankruptcy lawyers for solutions. When you realize your finances need harnessing, it is best to speak with a professional who can guide you through all of your debt relief options.
The bankruptcy attorneys at The Law Office of DeCaro & Howell, P.C., offer debt relief advice that you can trust. Our attorneys want you to make informed decisions regarding your finances. Let us help you move past the instability and stress of overwhelming debt.
How To File Chapter 7 In Maryland
Chapter 7, also known as “liquidation” bankruptcy offers financial freedom through liquidation of assets. The process does not take long and wipes the slate clean of most debt. However, while filing chapter 7 in Maryland is relatively simple, the debtor should understand the lasting tax consequences and nuanced financial implications of filing bankruptcy, and the impact it will have on your future.
To file Chapter 7 in Maryland, it is recommended that you speak with an experienced attorney. Under professional guidance, you can complete the following steps and declare bankruptcy:
- Undergo credit counseling before filing for bankruptcy
- Apply the Maryland Means Test, in which the court will compare your average income to the median income for Maryland to see if you qualify for Chapter 7
- With the help of an attorney, itemize your current income, monthly living expenses, debts (secured and unsecured), and property, as well as provide documentation for titles, deeds and all loans
- With the help of an experienced attorney who can help you keep as many assets as possible, determine which property you believe is exempt from seizure
- Your attorney will then file a two-page petition and several other forms at your Maryland district bankruptcy court
The cost for filing a Chapter 7 bankruptcy in Maryland is $306, and may be paid in installments. Attorneys at our Maryland bankruptcy law firm work hard to minimize negative impact when you file under chapter 7. If you have too much debt, consider the benefits of speaking with our bankruptcy attorney to discuss the best way to get out of debt. We can stop creditor harassment and the foreclosure of your home, and can explain all the other effects of filing bankruptcy in Maryland.
Contact Us For A Free Consultation
At The Law Office of DeCaro & Howell, P.C., we’re ready to help you get your finances under control. We understand difficult financial situations, and how they affect the rest of your life. Let us help you ease your fears about your future. The Law Office of DeCaro & Howell, P.C., proudly serves Maryland, northern Virginia and District of Columbia communities. Contact us online to schedule a consultation or call 301-750-9941.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.