Frederick, Maryland Bankruptcy Attorney

logoSteven E. Mirsky, P.C., 301-668-1666
5235 Westview Drive, Suite 100, Frederick, MD 21703 USA
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Greenbelt, Maryland Bankruptcy Lawyers

logoEdward Gonzalez, P.C., 855-822-1400
6301 Ivy Lane, Suite 700, Greenbelt, MD 20770 US
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Rockville, Maryland Bankruptcy Lawyers

logoSteven E. Mirsky, P.C., 301-279-8700
1401 Rockville Pike, Suite 650, Rockville MD 20852 USA
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Declaring Maryland Bankruptcy

If you are buried in debts you are unable to repay you may want to talk with a Maryland bankruptcy lawyer to learn about your debt relief options available through filing either chapter 7 or chapter 13 bankruptcy. A Maryland bankruptcy lawyer may also be able to point out any bankruptcy alternatives that you may not have considered.

Bankruptcy laws are written to allow people buried in debts a fresh start by wiping out their debts and allowing them protection from their creditors. Many other people in Maryland have exercised their right to debt relief through bankruptcy; in fact 19,242 individuals in Maryland filed chapter 7 bankruptcy in the 12 months ending September, 2012, and an additional 4,640 people filed for chapter 13.

If you have any questions and concerns about bankruptcy one of our bankruptcy lawyers can answer your questions and address any issues or concerns you may have.

A major concern is getting credit again. However, you will be able to rebuild credit and get a credit card after bankruptcy. In fact, you may be able to get credit at the same rates as a person who was never bankrupt in as little as 2 years after bankruptcy.

Another issue people have is deciding whether they should file a chapter 7 or chapter 13 bankruptcy and a MD bankruptcy attorney can help you decide this as well, including determining if you are eligible to file chapter 7.

Chapter 7 bankruptcy is a liquidation bankruptcy, that is common for debtors with little to no income. As debtors must turn over any of their property when filing chapter 7 that is not covered by the Maryland bankruptcy exemptions, debtors with more assets may decide chapter 13 is more appropriate for them.

MD chapter 13 is a reorganization bankruptcy because debtors filing under this chapter of the Bankruptcy Code will have their debts reorganized into a more manageable debt repayment plan. A chapter 13 repayment plan will last from three to five years, and you will have the protection of the bankruptcy court the entire time your debt repayment plan is in effect.

People considering filing insolvency can get a brief understanding of the bankruptcy laws by reviewing our website, but when you are ready to learn more about how the MD bankruptcy laws can help you fight your debts you can arrange a free, no obligation consultation meeting with one of our local bankruptcy attorneys.

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