Learn New Knowledge About Bankruptcy in Baltimore, MD

freepik.com Most people contemplate filing for bankruptcy just to save face. But that shouldn’t be the case, especially if you’re already struggling. Filing for bankruptcy doesn’t mean that you’re a failure, it just means that you’ve hit a challenging situation like everyone else. Even the most famous brands in the US have once filed for bankruptcy. So don’t hesitate to hire a Baltimore bankruptcy lawyer if you need one. Some businesses were already struggling before the pandemic happened, but the COVID-19 crisis just further pushed the business to file for bankruptcy. But don’t lose hope as this also happened to famous businesses such as Walmart, Walt Disney, Hershey’s, and more.   Famous Companies that Filed for Bankruptcy Before…

pinterest.com Filing for bankruptcy can help wipe out debts. But with a discharge, it can’t instantly erase the liens the creditors have on your property. Therefore, even if your case is successful, you could still lose the property you thought you wouldn’t lose. That’s where you’ll need the help of a Baltimore bankruptcy lawyer. Creditors who have a lien on your property still have rights to it. Fortunately, there is a way to keep your property even if that’s the case, which is by filing a Motion to Avoid Judicial Liens. But how can you avoid them?   Motion to Avoid Judicial Liens It is a motion that your Baltimore bankruptcy attorney can file in the court to…

People often turn to bankruptcy lawyers in Baltimore, Maryland as a last resort because of enormous debt. When that time comes, you may not fully realize the benefits right away. At first, you will feel a tremendous sense of relief from being debt-free. That’s especially if you have been struggling with long-term financial problems for a while now. When that realization sinks in, you will discover right after that there are plenty of peripheral benefits to gain from filing bankruptcy. The relief you feel is just the beginning. Once the dust settles and the heavy weight of debt is eased from your shoulders, you will start to look past the fear of being judged. Furthermore, you will begin…

Photo by: unsplash.com   Often enough, financial decisions that lead to bankruptcy may not seem obvious when you just start making them. However, as these decisions turn into habits, you will find yourself wondering where all your money went and you start scrambling to get a grip on your finances. Thus giving birth to the need for bankruptcy lawyers in Baltimore, Maryland, or anywhere else. And while some situations leading to bankruptcy are caused by conscious decisions made over a period of time, sometimes unforeseen situations blooming into financial crises can also be the root of your problems.   Now, let’s take a look at some of the most common money mistakes that can spiral into bankruptcy. And…

Photo by: pexels.com Most people are familiar with the term bankruptcy. That's especially if you or someone you know has ever sought the help of a bankruptcy lawyer in Baltimore, Maryland to file your own case. Bankruptcy is helpful in many ways because it allows people and businesses with debt to wipe their slate clean or come up with a repayment plan that suits their current financial state. Most people would know about Chapters 7 and 13. The Most Common Types of Bankruptcy Chapter 7 This is sometimes referred to as liquidation bankruptcy and is considered the most common type of bankruptcy in the US. For this type, courts may provide businesses with a trustee who will take…

The ongoing COVID-19 crisis has dealt a lot of damage to multiple economies around the world. From small to prominent businesses, none have remained unaffected by the sudden changes and restrictions implemented by government bodies to keep its citizens safe from the pandemic. In Baltimore alone, multiple businesses have felt the need to hire bankruptcy lawyers to seek help. Small businesses are even more at risk because they are the most likely to face multiple difficulties from prolonged restrictions. As such, if you are a small business owner, it would be worth your while to know which small businesses are most vulnerable to COVID-19 so you can make preparations. While the pandemic has affected all industries, some are…