Solid Debt Relief Solutions for Maryland Residents
One of the most prevalent myths about personal bankruptcy is that only people who have few assets and very limited income can file and gain debt relief. Although changes to the federal bankruptcy code in 2005 made it more challenging for people with substantial income to get relief, Chapter 13 bankruptcy remains a viable solution for many individuals.
If you have a solid income but are dealing with too much debt on your home, a mountain of credit card bills, recent unpaid tax debt or other problems, Chapter 13 "reorganization" bankruptcy may offer a road to recovery. To talk with a sharp, conscientious attorney prepared to help you, request a consultation at our Glen Burnie, Maryland, law firm.
Our personal service to clients struggling with too much debt begins with an empathetic yet straightforward discussion of financial problems and priorities. Although Chapter 7 bankruptcy offers a "cleaner break" with allowing our clients to start over — and we will apply our knowledge to determine if you are eligible for Chapter 7 — we will help you determine if there are other options than Chapter 7.
A Means of Asset Protection and Debt Settlement Over Time
Essentially, Chapter 13 bankruptcy requires development of a repayment plan for some portion of your unsecured debt. This plan must be approved and overseen by a court official called a bankruptcy trustee. The benefits of a Chapter 13 filing may include:
- Gaining up to five years to pay off debts that cannot be eliminated outright under the law, enabling you to keep assets you might otherwise lose
- Legal, dependable protection against judgments and garnishments
- Options for avoiding foreclosure by eliminating a second mortgage no longer backed by the current value of your home
We offer caring, constructive bankruptcy services to people across the cultural spectrum in the greater Baltimore area, including Anne Arundel County and Howard County. Please contact us to learn about bankruptcy and our foreclosure defense services before taking drastic measures such as liquidating retirement accounts or other important assets.
Call 410-766-1100 to Request a No-Risk, No-Pressure Consultation
Lawyer Timothy J. Mummert has the experience to relate to your personal and business challenges. We offer legal solutions without pressure to help people get debt relief enabling a return to peace of mind and productivity.
