Understanding What Bankruptcy Can & Cannot Do

Bankruptcy is a potent solution for those in financial distress.

But you must bear in mind that some kinds of debt cannot be eliminated in bankruptcy.

Bankruptcy lawyers in Maryland have been consistently counseling their clients that they should make sure to understand which debts will be wiped out and which they will have to retain.

Chapter 7 and Chapter 13, the two most common types of bankruptcy, will get rid of credit card debt, but important liabilities like child support, secured debt, taxes, and alimony and education loans, will remain.

Here is how bankruptcy can help you.

It is an excellent tool to wipe out credit card debt. However you must keep in mind that the credit card you possess must not be a special secured one.

Some of the other debts that are dischargeable under Chapter 7 include:

• medical bills
• auto accident claims
• business debts
• dishonored checks
• Unpaid taxes past a specified number of years
• money owed under lease agreements

Bankruptcy lawyers in Maryland have also been reiterating that a debtor does not have an unqualified right to a discharge.

“If you want to receive a discharge, you must abide by the bankruptcy code”, says an attorney at a bankruptcy law firm in Maryland. “Section 727(a) of the bankruptcy code lists out reasons why the court may disallow you a Chapter 7 discharge”.

The reasons to deny discharge are:

• If you commit perjury or other deceptive acts in connection with your bankruptcy case
• If you violate a court order
• If you have been concealing property with a view to obstruct your creditors
• If you have not completed a course in personal financial management. Before you are granted a bankruptcy discharge, you must file a certificate that endorses the fact that you underwent a debtor education course.
• If you are unable to account for missing assets

You must also remember that a creditor can successfully object to a discharge.

Such situations can include:

• Credit card purchases for certain luxury items owed to a single creditor
• Cash advances totaling more than a specified amount
• If you have incurred debts by deceit or false pretenses
• If you have incurred debts by causing willful injury to a person or to the property of another

If you are considering bankruptcy as a solution to dealing with your financial distress, you may want to know more about how it works.

It is a good idea to consult bankruptcy lawyers in Maryland to get inclusive counsel. 

Forming An LLP in Maryland

LLP is short for Limited Liability Partnership.

An LLP is an alternative business that blends the features of a private company and a conventional partnership.

In other words, LLP offers limited liability status to its partners and offers the flexibility of internal arrangement through a covenant between partners.

Who can form an LLP?

Any entrepreneur desirous of carrying on a lawful business can form an LLP. However, the main business groups are:

• SMEs or Small and Medium Enterprises
• Venture capitals
• Joint Ventures
• Professionals (Examples: Lawyers, company secretaries, etc.)

If you are thinking of starting an LLP in MD, you must keep the following things in mind.

1. Register the LLP

If you are starting an LLP in MD, an application must be submitted to the registrar with the following information:

• Name of the planned LLP
• Description of the business
• Address of the LLP office
• Name and details of the LLP agent. You must keep in mind that every LLP in Maryland must have a resident agent. The task of the resident agent is to accept your legal documents on behalf of the LLP.
• If you are planning to form an LLP for any professional practice then the application form must accompany an approval letter by the authorities concerned.

2. Prepare a partnership agreement

It is not mandatory to have an LLP agreement in MD. Nevertheless a partnership agreement is strongly recommended.  In this manner you will put the partnership terms and conditions in black and white to protect your business.

If you and your partners do not explicate your rights and responsibilities, you will be badly prepared to settle disputes.

“A partnership agreement has allowed me to structure my relationship with my partners in a manner that tailors my business”, says an SME owner.

3. Get a federal Employer Identification Number

A federal Employer Identification Number or EIN is a must because you are a separate legal entity from your partners. You need it even if there are no employees in your LLP.

4. Register with the Comptroller of Maryland

If you are starting a business for selling goods and collecting sales tax then it becomes compulsory for you to register with Comptroller of Maryland.

5. Get a business license

Depending on the nature of your business and the type of goods/services you propose to sell, you will be required to obtain local or state business license.

The above requirements broadly are governed by the state law.

How to File For Chapter 13 Bankruptcy in Maryland

Bankruptcy can be a tough challenge to deal with, especially if you have had a smooth and trouble-free existence and have to now confront a situation where there is a severe constrain of funds, even for your basic requirements. If you are facing a similar situation and looking at ways to get relief, the best approach is to utilize the services of an experienced bankruptcy lawyer Maryland. The law firm you choose will analyze your situation and decide whether you need the services of a Chapter 7, Chapter 11, or Chapter 13 bankruptcy lawyer Maryland.

Who Can File For Chapter 13?

It must be understood that Chapter 13 is not an option available to everyone who’s filing for bankruptcy. It is a type of reorganization of funds over a specific period of time. This means you are required to repay a significant portion or your entire liabilities within a time frame mutually agreed between all parties affected and concerned. An experienced Chapter 13 bankruptcylawyer Maryland will be able to help you understand the law better in this regard.

When you file for bankruptcy under Chapter 13, you are spared the embarrassment and the disappointment of having to sell all your assets to clear your debts. Chapter 13 bankruptcy is used for creating a repayment plan that incorporates your income to taper off your debt gradually over a specific number of years as allowed by the bankruptcy laws of your state.

Credit Counseling and Other Mandatory Steps

Chapter 13 is typically used by those debtors who have a steady income source and have the capability to repay their accumulated debt after suitable reorganization over a time frame of three to five years. The best Chapter 13 bankruptcy lawyer Maryland will be able to guide you in the right direction after taking into account your current financial situation and future fund flow and goals.

All debtors have to mandatorily receive credit counseling from an agency approved for the purpose before they can file for bankruptcy. These agencies can charge you a fee for their services. However, if you are not in a position to pay, they must provide free counseling or reduce their standard reduced rates. You will also have to shell out money towards the filing fee and for various types of forms and documents that have to be attached with the Chapter 13 bankruptcy filing application.

If you are not an ideal candidate for Chapter 13, you can consult an experienced Chapter 11 bankruptcy attorney MD to assist you. 

Legal Assistance – Vital For Progressing Through Divorce Proceedings

Divorce is a heartbreaking event in a family. But with the right guidance and help from family lawyers in Largo MD, you can make the process simple and far less distressing.

The family attorney firm can help you:

• comprehend the divorce process exhaustively
• reduce day to day discord with your spouse
• avoid expensive and grueling court battles
• make the right decisions with composure

A divorce is an event that involves resolving of multiple issues.

You must settle issues such as child support, child custody, alimony, division of property, and finalizing a marital settlement agreement.

When you are contemplating divorce, you will unquestionably have a lot of queries.

• Do I need to take the services of a lawyer?
• What will happen to my house?
• Will I get custody of my children?
• My finances aren’t very good, so how will I make both ends meet?

Even if divorce is the final goal, a split-up is sure to be an emotionally charged situation. There is immeasurable anguish over termination of a relationship that started with so much promise.

With so much confusion, it is not easy to go through the divorce proceedings on your own.

You must take care of your own health and continue living with equanimity.

More often than not, a spouse is faced with a dilemma - compromise a little or stand firm on what you believe in.

The former, is, by far, the best approach. You must take heed of the other person’s feelings.

Compromising is not a weakness. You must not concede just because it is morally appropriate.

Being stubborn can hurt you more. Experienced family lawyers in Largo MD will tell you that by being inflexible you can end up hurting your own interests.

At this juncture, it is important for spouses to understand the difference between separation and divorce.

There are three types of separations.

1. Trial separation – Spouses living apart to decide whether to divorce.
2. Permanent separation – Living apart with the objective to divorce. Properties and income acquired after the separation date belongs to the spouse who acquired them.
3. Legal separation – It is a different legal status from being married or divorced. A court’s order on legal separation can include rulings on alimony, property division, and child custody.

Remember, you need services of family lawyers in Largo MD even if you and your spouse decide on how you will divide your property.

A court judge will still have to grant you divorce.

The Law Office of Rowena N. Nelson, LLC is a Maryland Law firm assisting clients in the Maryland and Washington DC areas.

Some Of The Challenges Criminal Lawyers Face

We often see big time criminals hiring top criminal lawyers in Largo.

Frankly, there is nothing wrong with this.

As per the U.S. law, every individual is entitled to a fair representation in court, regardless of the antecedents of the accused.

But criminal lawyers anywhere have to confront several challenges.

One of them is many people have reservations about their defending well-known criminals. 

   

This negative perception needs to be removed because everyone is entitled to the best defense they can afford.

Another view people have of criminal lawyers is that they are stinking rich.

We must understand that top Maryland criminal lawyers attorneys have to spend evenings and holidays working on cases.

According to a criminal lawyer, “Law enforcement agencies and district attorneys spend significant money and resources to prosecute cases. We must work hard to counter the prosecution”.

Defending a client is not an easy task. They, more often than not, are frantically working on fact-finding assignments to prop up defenses of their clients.

Another challenge criminal lawyers face is client expectation.

It is always sky-high. The internet has not made things easier too. Clients have now access to plenty of legal information and history of past cases. They expect attorneys to be as well-versed as the best in business in handling their cases.

“Nowadays clients do plenty of research before consulting us”, says a Largo based criminal attorney. “They expect us to come up with innovative solutions to fight their cases”.

But the biggest challenge lawyers face is to have an image that they never ever err.

To err is human. This adage holds true for everyone but not a lawyer, least of all for a criminal lawyer.

“We are terrified that one small mistake on our part can put our client behind bars, even though he or she may not be guilty”, says a Maryland criminal lawyer.

The client is least bothered about the mental agony an attorney goes through.

What they desire is confidence, an assurance that they will be provided with the best defense.

Criminal lawyers look inherently pessimistic.

This characteristic in lawyers is natural. They focus on difficult issues and so view the world from a negative perspective.

Such attributes in lawyers helps in making legal decisions. Doubt and distrust can guard against making errors and can unearth hidden motives.

But being a lawyer is a genuinely helpful profession. They serve their clients navigate through difficult waters.

Law Office of Rowena N. Nelson, LLC is a Maryland Law firm assisting clients in the Maryland and Washington DC areas.

Prince George’s County Foreclosure Attorney – Saving Your Home

Your home is likely your most expensive and significant investment. Therefore, for reasons such as your inability to repay debts, you should not have to hand over your home. Unfortunately, when things take a turn for the worse and creditors are insisting on being paid, you might end up losing your home. It does not have to be like that. You can hire a Prince George county foreclosure attorney to look at the possibility of delaying creditor proceedings while you approach the court for gaining relief.

Quick action

The problem many debtors face is that they are not aware of their rights under the law. They are also not sure of the factors that can count against them in case the creditors approach the court. There are fundamental mistakes you make in your dealings with creditors which will offer them more solid grounds for taking you to court following delayed payments. This is why it is in your best interests to talk to a foreclosure attorney the moment you suspect your home is at stake. Since the first consultation is usually not an obligation on you in any way, it does not hurt to let a foreclosure attorney look for ways to mitigate your problem.

The first thing to know would be your rights as a debtor. Creditors, by law, are not allowed to use threats and violence. This can also mean any kind of psychological pressure and tactics that can make life difficult for you. Also, you need at least 90 days notice for an impending foreclosure.

                                     

If you receive a notice, do not delay. Consult an attorney who can save the roof over your head. Your attorney can help you in two ways. The first would be to ensure that your home is exempt from liquidation. If not, they can receive more time from the court and ensure that the right strategy for saving your home can be framed.

Defend your interests  

Your attorney will undertake a range of activities to defend your interests. They will go through the home loan titles and other documents. They will study the notice you have received. They will ask you questions about the creditors. If they feel the creditor has not acted lawfully, they may approach the court for relief.

Protecting your home is important for many reasons. You want to protect your investment because you bought your home after much deliberation. You also want to protect the money that went into purchasing or renovating your home. The biggest factor is that losing a roof over your head will have a very detrimental impact in every area of your life. You may feel anxious all the time. You will have financial burdens to face. You will not be able to start afresh, on a new job, or create a brighter financial future, without a roof over your head.

The best attorney to represent your interests, whether a foreclosure issue pertaining to civil law or a Largo Maryland criminal lawyer to protect you when you are charged with violent crimes can make a difference to the outcome of the case.

Here’s What You Must Know before Hiring Divorce Family Lawyers in Largo Maryland

When it comes to choosing family lawyers to manage divorces, most people are more concerned about winning the case and moving on in life rather than focusing on handling matters delicately and making sure that the proceedings leading up to divorce are not too harsh on either of the parties involved. Rather than thinking solely about the winning or losing aspects of the case, you must seek established and experienced family lawyers in largo Maryland who will manage all affairs related to the case.

Being a time of emotional outbursts and upheavals, it is imperative that you choose top family lawyers in Largo who have seen it all and instinctively know what it takes to maintain the balance between two individuals heading for divorce.

The ideal family lawyer to handle your divorce

The attorney who will be handling your case must clearly understand your attitude towards the case and adopt a style that closely mirrors your views. Some lawyers are reputed for their extremely harsh and aggressive demeanor in courts and their blunt way of presenting unpleasant facts. If both your partner and you are fine with that kind of attitude, it is fine for you to go ahead and hire such as lawyer to handle your case. 

If you would, however, like to keep the proceedings quiet and smooth, look out for lawyers who are experts in negotiating divorce cases and successfully arriving at an amicable outcome that is acceptable to both the parties. If you sincerely wish to avoid emotional confrontations or mutual hurling of accusations, this would be a respectable and dignified way of parting ways. If there are children involved in the relationship, such an approach to divorce will also be easy on the children.

The choice of a lawyer, therefore, depends a great deal on your style of approach as much as the points you would like to bring up during the divorce proceedings.

Maintain rapport with your family lawyer

In the weeks or months leading up to the divorce proceedings, you will obviously be sharing a great deal of personal details with your lawyer regarding your spouse, family, married life, and circumstances that made living a life together impossible for the couple. It is absolutely necessary that you share an excellent rapport with the attorney and feel free and comfortable in revealing personal information.

You must be willing to trust your lawyer completely and offer them all important details related to the case. Remember that withholding certain facts just because you are too embarrassed to reveal them may possibly affect the outcome of your case in an adverse way. How comfortable you feel talking to family lawyers in largo Maryland plays a key role in determining the direction your divorce case will eventually take.

In addition to all these factors, you must also conduct a basic search about the track record and reputation of person you plan to hire. Cost is another aspect you need to decide on before actually signing on the dotted line.

Largo Maryland Criminal Lawyer – Helping People Charged With Traffic Violations

On the face of it, traffic violations may not seem serious but they carry the potential for long-term damage for victims of accidents and people charged with violating traffic rules. First, being convicted of traffic violations can lead to the loss of driving license. For people who rely on their driving license significantly to earn a livelihood, this can be a serious setback. People, who are reliant on their ability to drive to a destination for work or personal reasons, will also find this outcome a setback to their future professional and personal success. To prevent the suspension of driving privileges, it is important to have an attorney represent you if you are charged with traffic violations.

Your driving license can be suspended for the short term but for serious and repeat offences you might even face a permanent ban. A suspended driving license implies that you are no longer eligible to drive. Not every instance of driving license suspension is due to traffic violation. Your license can be suspended for not paying child support or as fine in civil lawsuits.

Why your license can be suspended

Common reasons for suspension of driving license range from failure to insure your vehicle or renew the insurance, not registering your vehicle, not paying parking ticket fines, or not paying other types of fines for traffic violations.

If your vehicle is not registered within a few days of purchase you will be violating traffic laws. You are not allowed to drive vehicles that are not registered. Not only that, you cannot allow someone else to drive a vehicle that is unregistered and belongs to you. You might be fined up to $500 if found driving an unregistered vehicle. If you are charged with these violations, a Largo Maryland criminal lawyer can help you.

Is your vehicle insured?

Not insuring your vehicle or allowing the insurance to lapse is a serious offense. Insurance is also a safety net against expenses occurring as a result of damages and accidents. Insurance ensures that people involved in traffic accidents can receive compensation and, thus, adequate financial help. If your vehicle’s insurance has lapsed, it is a good idea to get it insured as soon as possible.

If you are charged with driving without insurance, you would want to consult a largo Maryland criminal lawyer to check your options. If convicted for driving without insurance, you might be fined and face 12 months in jail, and be asked to undergo driving training.

In the long term, being convicted of traffic violations will make it more difficult for you to get cheap car insurance. You might look for an experienced Prince George's County criminal law attorney lawyer or a lawyer in any other part of Maryland, to represent your case if you are charged with traffic violations that may lead to suspension of your driving license, fines, and imprisonment.

Why You Need The Expertise Of Top Bankruptcy Lawyers In Baltimore MD To Manage Your Debt

When you are in a financial mess and find no avenues to escape the mounting debt, there is only one solution available. Filing for bankruptcy may be looked down as a sign of failure in the financial area of one’s life but it is certainly the best option to keep creditors from snatching away every small bit of your asset. It is recommended that you utilize the services of one of the top bankruptcy lawyers in Baltimore MD to help you make a fresh start.

Why You Must Find A Quick And Practical Solution

Millions of bankruptcy petitions are filed with the federal bankruptcy courts every year. This obviously means that there are millions of debtors in the US and not everyone is in this situation because they mismanaged their finances. Bankruptcy can happen due to a variety of reasons. However, regardless of the cause, you must move quickly to put an end to the enormous stress and tension that the situation brings, not only upon you but on your dear ones as well.

Find A Bankruptcy Lawyer Qualified To Handle Your Case

Finding one of the best bankruptcy lawyers in Baltimore MD might not be as easy as you think because most law offices claim to be experts in handling bankruptcy cases. You must hire a lawyer who has many years of experience in handling cases specifically related to this area of law. The right lawyer will analyze your case carefully and develop strategies that will make the filing process easy. They will also ensure that you end the debt process in a manner that’s less painful and more convenient to you and your family.

Various Types Of Bankruptcy Laws

There are various types of bankruptcy laws in the US and each one has a specific application. Which one is right for your situation? You can consult a law firm specializing in bankruptcy laws to know whether you need the services of a Chapter 11 or Chapter 7 bankruptcy lawyer MD to deal with your case.

What Is Chapter 7 Bankruptcy

Chapter 7 bankruptcy also known as liquidation bankruptcy is a form of bankruptcy in which reorganization of debt payment is not possible. The debtor must sell off any un-exempt assets they have to pay creditors. A trustee is appointed to overlook the payment process. They make sure that the secured assets are sold and that the proceeds are paid to the creditors.

What Is Chapter 11 Bankruptcy

Chapter 11 bankruptcy is also known as rehabilitation bankruptcy. This type of bankruptcy allows the individual or firm a chance to restructure their debt and repay their debtors over a mutually-agreed fixed period of time. The bankruptcy lawyer appointed for the purpose will communicate with the creditors and attempt to change the terms on loans to make it more practical and easy for the debtors to repay. In this case, the assets of the debtor remain in their ownership.

The Role Of Your Bankruptcy Lawyer

Your lawyer will be responsible for the crucial task of filing the bankruptcy petition. An experienced and responsible lawyer will examine the petition in detail to ensure all assets and creditors are all listed. They will also double check the petition to make sure that no mistakes have been made.

There are reasons why you should choose one of the top bankruptcy lawyers in Baltimore MD. They will keep you out of trouble with their expertise. They know how to handle your situation in a highly professional manner and within the state’s legal framework. You can get out of the debt trap without facing any more stress of mental tension if you follow the advice of your bankruptcy lawyer properly.

Chapter 11 Bankruptcy Attorney MD – Reorganize Your Business

For businesses that want their debts cleared under bankruptcy laws, filing for bankruptcy under chapter 11 is the recommended route. This enables businesses to reorganize their business in an effort to make it easier to clear their debts. Many individuals residing in Maryland with income and assets exceeding a certain level may also prefer to use the services of a chapter 11 bankruptcy attorney MD. Before you can clear your debts this way, you would need to satisfy certain eligibility norms. Your chapter 11 bankruptcy attorney md will look over your case and explain how strong your case is and if you are eligible to find relief under Maryland bankruptcy law.

Things to consider

One of the first things to consider is if you want to continue your business. Sometimes, it is easier to liquidate the business and repay your debts. Also, if you feel that reorganization will not achieve much, in terms of financial improvement, you might want to discuss liquidation with your attorney. Then again, for those who feel their business can offer value with reorganization, filing for Chapter 11 bankruptcy can be an excellent option.

Getting creditor affirmation

While the restricting and debt clearing plan will be approved by the court, creditors also have a say in the matter. Depending on state regulations, a minimum number of creditors must approve of your plan. Your chapter 11 bankruptcy lawyer md will explain to you the rights of creditors, so that you can work on a plan that would get approval more easily. Your attorney has an important role to play here. From helping you create a plan to negotiating with creditors and getting approval from the court, there are a lot of steps to climb before you can reach your goal of a debt free venture.

Your attorney will advise you on the various aspects of the case. You will find the going easier with a lawyer’s support because they have the right experience needed to convince the creditors. Also, debtors may feel overwhelmed while dealing with creditors on their own. During these situations, an attorney will look over your interests and try to ensure a quick, amicable settlement.

Monthly reports

Once the court approves your plan, you will be obliged to offer reports to the creditors and the court on how the debt repayment plan is proceeding on a monthly basis. This requires that you keep consulting with your attorney to ensure transparent communication through these reports. You have many obligations as a debtor. Your attorney will help you clear your dues and come up with a plan that gets the cooperation of your creditors.

Your consultation with the attorney will help you create a plan that will help save your business, and also repay your creditors. You will need to work on long-term plans that will make the business viable and help prevent any future financial distress.

If you are anxious about the mounting pressure to repay your loans, you need to call a bankruptcy attorney and discuss your case with them.