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As January comes to a close, many Maryland families are faced with bills from the holiday season. Those expenses may lead to a closer examination of the family’s finances, the result of which can be the sobering realization that something has to change. For some, this is the time of year when an important decision must be made: is it better to attack debt repayment or begin the process of consumer bankruptcy? For those who want to try and pay down their existing credit card

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

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

A top concern for many Maryland residents who are planning to file for bankruptcy is the impact that such a choice may have on their future credit standing. It is important to understand that while consumer bankruptcy will have an initial negative impact on one’s credit, that damage can be repaired in a relatively short period of time. By using the tactics shared here, consumers can be on the road to solid credit immediately after the conclusion of their bankruptcy case. One of the most