Understandably, many adults in Maryland want to become homeowners. However, life can sometimes be full of unwanted financial-related surprises. One of these situations happens when someone must file for bankruptcy. After completing this process, many people wonder if...
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bankruptcy
Recovering from your bankruptcy
Filing for bankruptcy could be a highly positive step in the right direction for people who are interested in rebuilding their financial situation. Following all the necessary steps during the bankruptcy process could lead a Maryland debtor to embark on life with a...
Car loans and bankruptcy
Filing for bankruptcy provides an opportunity to discharge some or all of your debts without the need to give up property such as a Maryland home. However, it may complicate your efforts to apply for vehicle financing as the bankruptcy remains on your credit report...
Can you make too much money to file for bankruptcy in Maryland?
In Maryland, people may consider filing for bankruptcy to seek relief from overwhelming debt. However, there is a common misconception that they must have a low income to qualify for bankruptcy protection. Contrary to this belief, there is no specific income threshold...
Why you should pay off your credit card debt now
Rising inflation and interest rate hikes have left millions of consumers in Maryland and throughout the country struggling to make ends meet. A report released by the Federal Reserve Bank of New York reveals that the amount of revolving debt being carried by American...
The frightening rise in credit card debt
Consumers all across Maryland are increasingly turning to credit cards to pay for all manner of items, from everyday necessities like groceries and fuel to season-specific items like holiday presents. And while the rise in credit cards has coincided with great...
Can bankruptcy help with smaller amounts of debt?
People regularly file for bankruptcy in the state of Maryland. Many people may see bankruptcy as a way to escape their debts. They may even want to file for a relatively small amount of debt. This is likely not to work out as they envisioned. The different kinds of...
Listing assets in Chapter 7 proceedings
Chapter 7 bankruptcy may be a good way for someone in Maryland to escape insurmountable debt. Under Chapter 7 rules, the debtor will liquidate non-exempt assets to pay creditors. This category is different from Chapter 11, which involves a payment plan. When filing...
When can you apply for a credit card again after bankruptcy?
After a bankruptcy in Maryland, you could keep your credit card upon the creditor's approval. If you can't do this, you can apply again upon fully discharging your bankruptcy. Another option is to get a secured credit card instead of an unsecured one. Secured credit...
Common myths about bankruptcy
Bankruptcy represents a last resort when it comes to financial issues, but there's nothing wrong with making that choice if your circumstances warrant it. Hundreds of thousands of Americans file for bankruptcy every year, many of them located in Maryland. Despite how...