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Maryland residents help make up the millions of Americans who struggle under crushing student loan debt. According to NBC Universal, more than $1.5 trillion dollars is owed by more than 44 million Americans. It is extremely difficult to discharge student loan debt through bankruptcy, but many graduates struggle to find work that allows them to make their payments. Recently, a United States senator introduced a bill that would help wipe away student loan debt when a consumer filed for bankruptcy. Although the senator stated that

When living on a fixed or low income in the Rockville area, it might seem disheartening to read about people who managed to pay off a seemingly impossible amount of debt in a short length of time. Many of those individuals are able to accomplish that because they had more than enough discretionary financial resources to do so. You may not make a lot of money, and live paycheck-to-paycheck, but it is possible for you to pay down your debts without losing your home, car

If you have started thinking that you should file bankruptcy in Maryland, you should quit using your credit cards. Why? Because Bloomberg News reports that the Bankruptcy Code, specifically, Section 513(a)(2)(C)(1),  sets forth a presumption against recent credit card debt discharge in a Chapter 7 bankruptcy. Specifically, this presumption applies to any credit card debt of $675 or more that you assume to buy consumer goods within three months of your bankruptcy filing date. Recent Bankruptcy Court discussion Two years ago, the Bankruptcy Court for

Millions of Americans find themselves overspending each month. If you can count yourself as one of them, you no doubt want to find ways to keep living the lifestyle you’re comfortable with, but keep your checking account out of the red. The truth is, with some minor adjustments you can do both. In a recent blog we discussed some less-than-great spending habits you should avoid. This time we will be examining what good habits you can pull into your daily life which will help keep

Overspending during the holidays can feel like an inevitability. As much as you try to stick to a budget, you end up spending more than you anticipated. While it may feel good in the moment to be giving gifts to your loved ones, the long-term effect of debt can be crushing. Here are five tips for managing your holiday expenses during and after the season. 1. Limit the scope of your debt Many of us carry multiple credit cards and it can be tempting to

For the vast majority of American’s, debt is the price of admission to the American Dream. From a young age, we are sold the idea that financial stability in the future is not possible without an astronomical investment in your education today. College is thought to be the prerequisite for success in life. For that ray of hope, many American’s sign over responsibility to a form of debt that has astoundingly high interest rates and is unshakable, even in cases of extreme financial hardship or