HOW WE HELP
With the lingering effects of the pandemic, economic downturn, and rampant inflation, families are feeling the pinch more than ever. We are available to help with debt issues and see you through these challenging times when income is often uncertain and debts are overwhelming.
We leverage our experience and expertise to find the appropriate solution for your particular situation. After evaluating your financial and debt situation, we only recommend bankruptcy as a final option, if other less drastic measures will not work, or if a fresh start is desired.
Call us today at 301–588–4888 if you are feeling stressed about your financial situation. Our first telephone consultation is free, and we can usually get a good sense of your overall situation, then make a recommendation about how to move forward.
We are experienced at assessing a client’s financial situation, understanding their opportunities, and developing the most effective strategy for their particular financial circumstance.
For debtor clients, we have extensive experience in managing crises, restructuring debt, Chapters 7 and 13 Bankruptcies, assignments, ordered liquidations, strategic partnerships, acquisitions, and other exit strategies.
For creditor clients, we pursue debtors through the bankruptcy process, obtain non-dischargeable judgments, and defend in bankruptcy preference actions.
WHAT WE ARE GOOD AT
Bankruptcy Services
Representing Debtors
We have extensive experience in managing crises, restructuring, debt, Chapters 7 and 13 Bankruptcies and much more.
Bankruptcy Cases
Prosecuting and defending bankruptcy-related causes of action such as preferences, fraudulent transfers, lien avoidance actions, and non-dischargeability claims.
Motion Relief
We have extensive experience in managing crises, restructuring, debt, Chapters 7 and 13 Bankruptcies and much more.
Debtor-in-posession Financing
Providing and obtaining debtor-in-possession of financing.
Reorganization
Negotiating, objecting to, and prosecuting Chapter 13 plans of reorganization.
Claim Objections
Prosecuting and defending claim objections.
“Make every detail perfect and limit the number details to perfect.”
If you call our offices for a free telephone consultation, you will speak with a bankruptcy attorney, who will learn about your exact circumstances and provide tailored advice.
WHAT ARE MY OPTIONS?
Consider these options before starting the process:
Chapter 7 vs. Chapter 13: Which one should you file under?
Chapter 7 is a total liquidation.
Under this chapter, all of your non-exempt debts can be completely wiped away. That’s that will usually not be erased by a chapter, filing or student loans, certain taxes owed, child, support, obligations, and debts secured by property like your home or car. Debts that are discharged, include, but are not limited to, credit card debt, medical expenses, most judgments, income tax debt older than three years, and sums owed after a repossession or foreclosure. In order to file Chapter 7, you must qualify under the bankruptcy laws that took effect in 2005. Essentially, your gross yearly income must be at or below the median income for your state.
You can only files Chapter 7 Bankruptcy once every 8 years.
Once you file Chapter 7, you will not be able to re-file for another eight years. Filing for Chapter 7 should thus be carefully contemplated. If your total debt amount is low – under $10,000, for example – our office would advise you not to file bankruptcy, as it may be within reach to organize a workable plan to pay off such an amount.
Chapter 13 Bankruptcy is a repayment plan.
Here, you must submit to the court, a repayment plan, which details how you will pay back your creditors over at 3–5 year period. Because you not only repay a considerable amount of money, but still incurred a bankruptcy on your credit report, a Chapter 13 remedy is generally less liked. If, however, you have a home which you wish to save from foreclosure, Chapter 13 may be preferred, as it affords a wider range of remedies in this case.
Because the analysis of which chapter to file is a detailed task, again, we highly recommend that you speak with one of our bankruptcy attorneys, who can offer more case-specific advice. Do not hesitate to call our offices for a free telephone consultation at 301–588–4888, and receive top-notch personalize legal counsel.
CONTACT INFORMATION
Any questions? We look forward to hearing from you so drop us a line at 301–588–4888
We can be reached via email at info@mdbankruptcylawyers.com
Our main office location is
8720 Georgia Ave., Suite #1000
Silver Spring, MD 20910