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.