Learn New Knowledge About Bankruptcy in Baltimore, MD

The government needs money to function and it gets this by taxing its people. These mandatory monetary inputs from people and business enterprises pay for government employees and the services they provide. This is called a tax and the government must collect it from its citizens. A Baltimore bankruptcy lawyer can help you have a better understanding of these matters. Some are called federal taxes and they pay for national items like the president, congress, federal judges, and the military. Then there are the state taxes that pay local roads, and County and city taxes fund public schools, the fire department, and the police. Without taxes, the government can’t do anything and the country would be in chaos.…

Are you running a business in Baltimore, Maryland? But do you suddenly need to liquidate your assets and repay your creditors to resolve your financial issues and file for a bankruptcy case? If so, make sure to hire a qualified Baltimore bankruptcy lawyer. The rejection of a Chapter 7 bankruptcy case is very unusual, but there are grounds why a case like this can be denied. Many denials are due to a lack of attention to detail on the attorney’s part, errors made on petitions, and fraud. So you must hire an impeccable lawyer with good experience and an understanding of what is needed by the courts and local trustees. If your case happens to be denied, listed…

A bankruptcy attorney in Baltimore, MD, or in any other city for that matter can tell you that there are no two bankruptcy cases that are exactly the same. How so? It is because every case has a unique set of circumstances surrounding it, like a person’s debts, assets, marital status, and real estate property. However, there is one factor that is common in all individual bankruptcy filers.  Whether they are filing for a Chapter 13 or a Chapter 7, they are required to get credit counseling and debtor education courses as mandated by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. Each of these two non-elective sessions approaches bankruptcy issues from different angles with the…

Most debtors file for bankruptcy petitions due to high medical bills, divorce, job loss, and other circumstances that are out of control. But most of them also wanted to start anew, and to protect creditors from juicing out every single cent of their hard work, congress has added exemptions to the law to protect assets.  Bankruptcy exemptions allow petitioners to keep basic necessities including residential properties, automobiles, home furnishings, and retirement plans. If you need to know more about the assets you can keep, get in touch with your trusted bankruptcy lawyer in Baltimore, MD. Who is Eligible for Bankruptcy Exemption? Not everyone has the financial capacity to maintain their lifestyle after filing for bankruptcy,  and this law…

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…