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No two Maryland families who seek bankruptcy protection will have the exact same set of needs. Each case is unique and is the result of the particular circumstances of the individual or individuals who are seeking debt relief. In many cases, bankruptcy for individuals can become highly complex, especially when business interests are involved. An example lies in a case in which a man filed for personal bankruptcy after taking over the management of his wife’s businesses when she became ill. The husband filed for

When most people in Maryland think about Chapter 7 bankruptcy, they only consider the benefits that are available to individuals who are looking to eliminate personal debt. Chapter 7 is also a powerful tool for certain business owners, and it gives some the chance to combine a personal and business bankruptcy into one process. Individuals who are sole proprietors of their enterprises should take the time to understand how Chapter 7 bankruptcy protection could work for their unique sets of circumstances. Often, small business owners

As the holiday season continues, many Maryland families struggle with finances. The pressure to purchase gifts, attend celebrations and create memorable holiday feasts is enormous. When there is already financial strain in place, the end of the year can escalate the matter. Many people will give their finances a close look this holiday season and consider whether consumer bankruptcy is the best way to begin the New Year. The following tips are offered to give families the ability to make it through the season without

Many adults carry student loan debt well into their post-college lives. For some, this obligation, combined with other expenses, creates a serious financial strain. Those looking for debt relief have a number of options, including consumer bankruptcy and loan consolidation. The two approaches are not mutually exclusive, although many Maryland residents hold that misconception. When considering loan consolidation, it is helpful to have an idea of how that process works. Essentially, a borrower takes on a new loan that is used to pay off all

It has been reported that most consumers nationwide, including in Maryland, are burdened with credit card debt that they would likely prefer not to have. In fact, the average credit card debt per household is reported to be at least $15,000. Unfortunately, some consumers wait too long before trying to tame credit card debt. Eliminating debt is not something that can be achieved overnight, and those who are overwhelmed by credit card debt may benefit from researching how bankruptcy protection can resolve their financial problems.

For Maryland residents who are having serious financial troubles, the need for debt relief can be pronounced. Many people will go to great lengths to extricate themselves from financial strife, including signing on for questionable debt settlement offers. News of a recent federal court ruling against one such company may leave many consumers considering bankruptcy protection as a means of avoiding similar scams. The Federal Trade Commission imposed a $7.9 million judgment on the owner of DebtPro 123, a company that offered debt settlement and

Many Maryland hockey fans are familiar with Jack Johnson, a defenseman in the National Hockey League. Johnson has made recent headline not for his skills on the ice, but over what has become a very contentious consumer bankruptcy filing. Most recently, Johnson is trying to convert his Chapter 11 filing into a Chapter 7 case, in the hopes of eliminating a large portion of his debt through liquidation, rather than repayment. Johnson owes more than $15 million, much of which is held within loans for

Filing for bankruptcy is never a joyous occasion, but business owners should avoid thinking of the matter as an indication of failure. In fact, research conducted by the U.S. Small Business Association revealed that many businesses with fewer than 500 employees emerged from bankruptcy to find new levels of success in the years to follow. Maryland businesses in Chapter 11 are often able to fare far better in the years after a bankruptcy than they did in the years that preceded that action.   During

When a business owner needs to seek personal bankruptcy protection, one of the chief concerns is how that decision might affect the business. While most consumer bankruptcy outcomes will greatly improve the lives of those who file, there are negative repercussions that can come when a business owner is placed under the stress of juggling multiple obligations. The following tips are given in the hopes of helping Maryland business owners maintain stability during the course of a personal bankruptcy case. One of the most simple

When it comes to the chance to rob consumers of their hard-earned money, few industries are as attractive as that of debt relief. Individuals who are struggling under heavy debt loads will go to great lengths to ease that stress, up to and including signing up for questionable debt relief offers. Many of these consumers, in Maryland and elsewhere, are unaware that consumer bankruptcy offers a far more certain and stable path out of unmanageable debt. One of the issues with debt relief lies in