Services
Bankruptcy
Experienced Southern Maryland Chapter 7 and Chapter 13 Bankruptcy Attorneys
Get A Fresh Start and Relief from Creditors in Chapter 7 Bankruptcy: Facing an issue of home foreclosure, car repossession, garnishment, credit card debt or divorce can be an overwhelming experience. It is hard enough to deal with the financial and emotional impact of these kinds of issues. Add to it a complicated legal process, and it is easy to find yourself unsure of what to do. Fortunately, a skilled attorney can explain your options and help you make wise decisions. At Ferrante and Dill, we understand what you are going through. Our attorneys will help you find peace of mind by making the process easy to understand.
Filing for bankruptcy can:
The truth about common myths of Bankruptcy:
I will lose my property in Bankruptcy. The truth is most people that file Bankruptcy are able to keep all of their property. Most property in Bankruptcy is exempt and protected from recovery by creditors.
Personal taxes are not dischargeable in Bankruptcy. The fact is that certain taxes are indeed dischargeable in Bankruptcy. A review of your personal tax debts will allow us to determine which taxes are, and are not, dischargeable through Bankruptcy. For taxes that are not dischargeable, you may have the option of using a Chapter 13 Bankruptcy to create a payback period of up to 5 years.
I will never get credit again. You will be able to get credit again. Many people who go through Bankruptcy are able to obtain new credit in as little as 6 months, and be in the position to purchase a car or home within 1 to 2 years following your Bankruptcy filing. Remember, the most important thing following the filing of a Bankruptcy is what you do in the months and years following the filing. As long as you pay your bills on time and continue with steady employment, you will be able to obtain credit again.
I can only file for Bankruptcy once in my life. You can file Chapter 7 Bankruptcy again as long as it has been at least 8 years since receiving your last Bankruptcy discharge. Even if it is too soon for you to file Chapter 7 Bankruptcy again, you may still be able to file Chapter 13 Bankruptcy.
Bankruptcy will affect my spouse. So long as you do not have joint debt with you’re spouse, your spouse’s credit is generally not affected by your Bankruptcy.
I can choose which debts I include in my Bankruptcy. You must list all of your debts in your Bankruptcy, including debts you plan to keep paying, such as mortgages and car payments. Even though all of your personal debt may be discharged in Bankruptcy, you can still choose to voluntarily repay any particular debts.
Filing for Bankruptcy is a terrible thing to do. Bankruptcy is not the end of the world. The fact is, there are things that happen that are out of your control. When the debt becomes unmanageable, steps must be taken to get back on track. Bankruptcy was created for that purpose. In even considering to file Bankruptcy, you have taken the first positive step to dealing with your financial problems and creating a fresh start for you and your family.
Contact Us Today
Contact attorney James Ealley for a free consultation.
(p) 410-535-6100
(e) jealley@ferrantedill.com
Payment Plans Available.