Debt can be all-consuming, making it incredibly difficult to keep up with financial obligations. It’s only natural for debtors that their sights set to filing for either Chapter 7 or Chapter 13 bankruptcy. Be aware that, for debtors, Chapter 7 is the most widely used filing, and not just anybody can file. There are many standards that debtors must meet to qualify for Chapter 7. Whether debtors choose to file for Chapter 7 or Chapter 13, they must first undergo debt counseling.

Debt can be all-consuming, making it incredibly difficult to keep up with financial obligations. It’s only natural for debtors that their sights set to filing for either Chapter 7 or Chapter 13 bankruptcy. Be aware that, for debtors, Chapter 7 is the most widely used filing, and not just anybody can file. There are many standards that debtors must meet to qualify for Chapter 7. Whether debtors choose to file for Chapter 7 or Chapter 13, they must first undergo debt counseling.

It is crucial to build your credit. Some people don’t realize how a good credit rating affects their lives significantly. A credit file is not only a matter of concern for a lender. Good credit makes life less costly, and financial situations much more manageable. With a good credit score, an auto loan or mortgage is approved with the best interest rates and terms. When they check your credit and see good ratings, you usually pay less for more in insurance, and utility companies start a service with little deposit after they check your credit report.

There is so much mis-information about a forbearance of home mortgages during COVID-19.  Know your options before making a decision not to pay your mortgage.

Leading Lawyers Weigh In on Portrayal In The Media – (includes quote from Diane Drain)Can you remember the very first time you came across the word ‘lawyer’?

When families file for bankruptcy, one of the most common concerns they have is whether they will keep their family home. For many, this weighs heavily on the mind of someone who is considering bankruptcy as an option. While the automatic stay can undoubtedly stop foreclosure and offer relief, this is only short-lived, which is why an experienced bankruptcy lawyer will play a critical role in moving forward. They will discuss your needs and assist with alternative options that allow debtors to retain homeownership.

When families file for bankruptcy, one of the most common concerns they have is whether they will keep their family home. For many, this weighs heavily on the mind of someone who is considering bankruptcy as an option. While the automatic stay can undoubtedly stop foreclosure and offer relief, this is only short-lived, which is why an experienced bankruptcy lawyer will play a critical role in moving forward. They will discuss your needs and assist with alternative options that allow debtors to retain homeownership.

When families file for bankruptcy, one of the most common concerns they have is whether they will keep their family home. For many, this weighs heavily on the mind of someone who is considering bankruptcy as an option. While the automatic stay can undoubtedly stop foreclosure and offer relief, this is only short-lived, which is why an experienced bankruptcy lawyer will play a critical role in moving forward. They will discuss your needs and assist with alternative options that allow debtors to retain homeownership.

Originally appeared on Baltimore Business Journal Filing for bankruptcy protection may seem taboo to small business owners, but a relatively new and little-known program could prove to be the difference between surviving the Covid-19 pandemic or closing for good. The flood of bankruptcies that many economists, lawyers and accountants expected has not transpired. While several large companies in the retail industry have filed for Chapter 11 bankruptcy — J.C. Penney, Neiman Marcus and Brooks Brothers to name a few — most small businesses have held off as they try to tread water.

Bankruptcy laws provide specific information on the different types of bankruptcy. Among others, there is personal bankruptcy, consumer bankruptcy, and business bankruptcy. If you find yourself having trouble with debt-settlement or if you know you won’t be able to repay a creditor with what you owe, you may want to file for bankruptcy.