Learn New Knowledge About Bankruptcy in Baltimore, MD

17
May
2019

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…

23
April
2019

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 a given that hiring a bankruptcy lawyer is the best option for you. These…

20
March
2019

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…

26
January
2019

Refuse Jail Time: Avoiding Bankruptcy Fraud

When filing for bankruptcy, some unscrupulous individuals may try to forgo looking around Baltimore for a bankruptcy attorney and instead conceal their assets or undertake other shady tactics to avoid paying too much. If you didn’t already know, this is bankruptcy fraud and is highly frowned upon in law and business. In general, bankruptcy fraud is the act of attempting to or succeeding at cheating the court out of paying the full amount called for in the bankruptcy plan. It also involves confusing or disrupting normal bankruptcy processes so that the attorneys, creditors, and other personnel are not able to engage in fair business. According to the Legal Resource Institute at the Cornell Law Institute, 70% of bankruptcy fraud cases involve…