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Constantly dealing with the burdens of debt can be stressful and daunting, prompting many individuals to seek guidance in the process. In addition to countless calls and letters from creditors, those who face such hardships may also struggle in other areas of life, such as keeping up with mortgage payments. When an individual in Maryland or elsewhere is experiencing a similar situation, he or she may find it helpful to consider the potential benefits of a wage-earner plan. Countless individuals have experienced periods of financial

Personal debt can come in various forms, sudden and gradual alike. An unexpected trip to the hospital can be financially devastating. On the other hand, perhaps a person used a credit card on too many occasions, eventually leading him or her into dire financial straits. Regardless of how it happens, those in Maryland who are considering bankruptcy as a viable outlet for relief might want to consider the benefits of a wage-earner plan. Overwhelming debt can put a significant strain on a person’s everyday life.

A financial disaster often leads a person to file for bankruptcy protection. Perhaps it is a medical emergency or a job lay-off that starts the rapid unraveling of a delicate budget. However, a bankruptcy should not be thought of as a second disaster. In fact, despite the embarrassment people in Maryland may feel about filing for bankruptcy, the results allow you to begin rebuilding your credit. The first step one should take is to identify the reasons why one’s debts got out of control and

When Maryland consumers suffer financial hardships that seem overwhelming, they may consider bankruptcy. However, without proper knowledge about the protections offered by the U.S. Bankruptcy Code, the terms used in the process can be confusing. For example, what is the difference between Chapter 13 discharge and dismissal? For which chapter should they file? What is the difference between a liquidation bankruptcy and a wage-earner plan? The first two terms are complete opposites. While discharge is a positive term for the consumer, dismissal is something a

There are few things in life that can be as overwhelming and confusing as receiving a notice of foreclosure. When a person is unable to meet his or her financial obligations, it is easy to fall behind with mortgage payments, leading to calls from creditors and the threat of losing the home. Fortunately, there are options available, and one of them includes the bankruptcy option of the wage-earner plan. The wage-earner plan is commonly known as Chapter 13 bankruptcy. This option is only available to people

Maryland consumers who are struggling to maintain payments on their debts might have considered personal bankruptcy, but they may have put off filing because they are not entirely informed about the different bankruptcy chapters and the requirements for each. Choosing between a Chapter 7 liquidation bankruptcy and a Chapter 13 discharge bankruptcy that involves a repayment plan can be difficult without the necessary information. Procrastinating can only worsen the situation, and the appropriate action may be to consult with an experienced bankruptcy attorney. A consumer

Many homeowners in Maryland are faced with a difficult set of financial circumstances. Having financed the purchase of their home and during a period of solid financial stability, many took out second mortgages to cover the cost or home improvements, repair or other expenses. As the real estate market shifted over time, however, many of these borrowers now find that their home is worth less than the total amount owed on the property. It may be a relief to know that second mortgages are eligible

In troubled economic times, virtually no one is immune to financial difficulties. Even Maryland residents who have worked hard to amass a solid base of income and assets can be at risk of serious financial strain. For many, the most sure path back to financial stability lies within the Chapter 13 discharge process. Understanding the steps that come between filing and discharge can help make it easier for individuals and families to determine if this is the appropriate solution. Chapter 13 bankruptcy is a legal

With spring around the corner, many individuals are looking forward to going on vacations or doing extra projects to fix up the house in Maryland. Others, however, are looking at empty savings accounts and meager paychecks, wondering how they could ever get to the point where they can live normally again. They feel restrained due to their overwhelming debt, in which case a Chapter 13 discharge might help them to become free from the grip of their financial obligations. People who are in debt may

For many Maryland homeowners, financial difficulties lead to a great deal of stress. The fear of losing one’s home is a serious stressor, and can lead individuals to make choices that they might otherwise avoid. In the struggle to save your home and avoid foreclosure, it is easy to fall victim to a wide range of scams. At the end of the day, personal bankruptcy may offer a better path toward retaining your home and rebuilding your credit. One scam that is currently in play