Learn New Knowledge About Bankruptcy in Baltimore, MD

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…

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.

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…

Have you ever wondered what it’s like to go bankrupt? Well, let’s just say that it’s not a very pleasant experience at all. But, if you do happen to experience filing for bankruptcy, just know that there are ways you can recover from it. Of course, one of the first things you should do, especially when you’re in Baltimore, is to hire a bankruptcy lawyer before everything else. However, once you end up losing a lot more than you bargained for, there isn’t really much else you can do. But, what if I told you that there is life after bankruptcy? If, for example, you’re in Baltimore and you hire a bankruptcy lawyer to help you with your…

Baltimore’s bankruptcy lawyers actually have a part to play in settling large amounts of unpaid and overdue debt both at the individual and corporate levels. Read this blog to learn more about debt and the key on how to actually turn debt into a good thing. Even when talking outside the topic of bankruptcy, debt is a cunning and consuming beast that has dogged the lives and financial well-being of many people from all walks of life. Debt, at its very simplest, is “the state of owing money to another person”. In more professional terms, debt is defined as the amount of money borrowed by one person/party from another, often used to make large purchases that are unaffordable…