Reasons why Chapter 13 Bankruptcies Fail
As a Baltimore bankruptcy lawyer, we know that many people file for a Chapter 13 bankruptcy case in order to save some properties from foreclosure. As you may already know, Chapter 13 bankruptcy would take much longer to settle than Chapter 7. But, if you can pull it off, then the agony of having to pay monthly for 3 to 5 years will all be worth it. However, there have been many instances when Chapter 13 bankruptcies fail. In fact, 66% of cases fall through even after passing tests and getting approval from the judge. And because it requires a long time to complete, failure would take a heavy toll on the debtor. So if you ever find yourself filing … Continue ReadingRead more: Reasons why Chapter 13 Bankruptcies Fail
Baltimore Bankruptcy Lawyers talk about Tax Credit Options
Dreading the thought of having to visit Baltimore for a bankruptcy lawyer? Before you end up losing all your assets due to all the taxes you have to pay, you might want to check out these five biggest tax credits that you can claim to ease your expenses: Continue ReadingRead more: Baltimore Bankruptcy Lawyers talk about Tax Credit Options
What Do Bankruptcy Lawyers Actually Do?
In major cities such as Baltimore, the services of a bankruptcy lawyer are always on demand. This is because of the fact that there are a lot of people who have settled down in these areas. And when talking about large communities, you can count on the fact that there are always businessmen who are trying to establish their upstart companies. Sadly, not all of them will become successful in their venture. In fact, there is a big chance that some of them will come up short and declare bankruptcy after only a few years. Now, when it comes to these situations, it is given that hiring a bankruptcy lawyer is the best option for you. These professionals are the … Continue ReadingRead more: What Do Bankruptcy Lawyers Actually Do?
All about Bankruptcy Fraud
If you’re in Maryland, there are many reasons to approach a Baltimore bankruptcy lawyer and not only because you’re the one who needs to file a bankruptcy case. Sometimes, it might also be because you need the opinion and support of an expert to counter a filed bankruptcy case by a person whom you suspect or have proof to be committing bankruptcy fraud. But what exactly is bankruptcy fraud? Well as the term suggests, bankruptcy fraud is an act committed when an individual or party filing for a bankruptcy case actively conceals or neglects to reveal all assets that they may still have. If one succeeds in a bankruptcy case, they will be “given a fresh start” and this … Continue ReadingRead more: All about Bankruptcy Fraud
Tax Evasion vs. Tax Avoidance
A lot of people may not know this, but any Baltimore bankruptcy lawyer would know the difference between tax evasion and tax avoidance. These two terms, as similar as they may sound, are actually very different from each other. But for a business owner such as yourself, the question would be: should you educate yourself on the difference between the two? Well, being that you have your own business, with taxes to file and accounts and monetary inventories to record, you definitely should. This way, you would be able to keep your business from being forcibly shut down and keep yourself from being hunted down by the IRS. What is tax evasion? Tax evasion is the process of deliberately avoiding … Continue ReadingRead more: Tax Evasion vs. Tax Avoidance
From Riches to Rags: Causes of Business Bankruptcy
When supply meets demand, sometimes the need for products or services becomes unnecessary. Businesses, thus, become locked in a saturated market where the supply is at an all-time high, but the demand is simply no longer there. They end up struggling to find a customer base for their products or services. Continue ReadingRead more: From Riches to Rags: Causes of Business Bankruptcy