The Bankruptcy Process

Chapter 7 Bankruptcy

In a Maryland Chapter 7 Bankruptcy here is what you can expect in a typical case:

• You will be asked to gather documentation and information
• You will be required to complete a brief online/telephonic debtor education course for pre-filers
• We will discuss your income and expenses to determine whether you are a candidate for a Chapter 7
• We will complete the petition and other schedules/attachments for you
• Your petition will be filed with the Bankruptcy Court in the appropriate district
• Your Meeting of Creditors (see below)
• You will be required to complete a brief financial management course
• You will wait for your case to be closed (typically 60 days from the meeting of creditors)

Of course, this is a simplified list but this is what you want to happen in an uneventful, successful Chapter 7 bankruptcy. We will be there with you every step of the way!

Contact us today for a free consultation! (443) 351-2011
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Chapter 13 Bankruptcy

A Chapter 13 bankruptcy is a means of reorganizing your debt. If you are behind on things like a mortgage or car note, this will allow you to catch up on the past due balances over a period of three to five years.

In this type of bankruptcy you will have to be able to demonstrate that you are receiving regular income (not necessarily a job)and are capable of making the monthly payments needed to catch up on your debt and possibly to repay all or some of your debt. If you have valuable property that you do not want to have to sell to satisfy debt, a Chapter 13 may be your best option. Don’t let the myths about bankruptcy prevent you from getting the fresh start you deserve.

The Chapter 13 Bankruptcy Process in Maryland
In a Chapter 13 Bankruptcy here is what you can expect in a typical case:

• Gathering documentation and information
• Completion of online/telephonic debtor education course for pre-filers
• Completion of the means test (even in a Chapter 13 case this should be completed)
• Completion of petition and other schedules/attachments, and Chapter 13 payment plan
• Filing the petition and plan (and paying the filing fee) with the Bankruptcy Court in the appropriate district
• Attending the Meeting of Creditors (see below)
• Making any necessary changes to Chapter 13 Plan
• Completion of financial management court
• Make plan payments for designated period of time.

Of course this is a simplified list and every case is different. This lists the basic steps taken in a Chapter 13 bankruptcy case.  Call today for a free consultation. We can be there with you every step of the way. (443) 351-2011.