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For those in Maryland who are considering filing for personal bankruptcy, it is important to gain the proper perspective on how the process will affect your credit scores. Many consumers fear that bankruptcy will lead to permanent negative credit repercussions, but this is simply not the case. In fact, with the right degree of persistence and effort, it is possible to rebuild credit scores relatively quickly following consumer bankruptcy. One way that individuals can increase their credit scores involves making careful and strategic choices in

For many in Maryland, medical issues have led to the need for serious debt relief. The cost of an unexpected illness or injury can be extreme, and can set many families on a path toward consumer bankruptcy. When medical bills begin rolling in, a tipping point is ultimately reached when an individual’s ability to repay those debts is simply outpaced by new bills. Once that scenario has been reached, the options for lasting debt relief are few. Some believe that healthcare reform could lessen these

Being engulfed in a bad financial situation can cause many homeowners to short sell their homes to try to dig their way out of their financial difficulties. Unfortunately, even after a short sale alleviates someone from their mortgage payments, they may still be entrapped in debt. Bankruptcy protection may be the solution for certain Maryland consumers. An example of this financial situation is a man who had a short sale on two homes. At some point in time, the man and his wife ended up

Sometimes, a series of events or just one crippling event can lead a consumer or business owner to a bankruptcy filing. Some Maryland residents can no longer afford to pay their monthly debts or their debts far supersede their household income. In cases like these, Chapter 7 Bankruptcy protection may be the most viable option for a new financial beginning. The owner of an oil company faced financial setbacks and filed for Chapter 7 bankruptcy. The owner, along with his wife, have a joint monthly

Credit cards have long been instrumental tools for Americans to pay for things and “organize” (in a way) their financial situation. At the same time, credit cards can be very risky tools, ones that trap the user in loops of debt that are only spurred on by massive interest payments and late payment penalties. In other words, as helpful as credit cards can be, when they are misused it is inevitable that the user will experience some difficult financial times. This is especially important given

One of the major complaints about having debt (besides having it in the first place) is the strategies and tactics that creditors and collectors employ to try and get the in-debt party to pay up. Many years ago, this could range from constant phone calls at odd times; threatening tones from debt collectors; debt collectors who pose as lawyers or police officers; and numerous other heinous forms of harassment to force the in-debt party to pay. It didn’t matter if the debt was legitimate or