Choosing between Chapter 7 or Chapter 13 Bankruptcy
with Atty. Richard Hackerman
Baltimore, Maryland – A lot of people are under debt trouble especially that the economy is getting its own share of ups and downs; not to mention, the alarmingly high unemployment rate. If you are struggling to pay your debts, you should immediately do something that will help address your financial problems. Lucky for you, you can choose to declare bankruptcy which can discharge most of your debts. With your strong desire to have a fresh financial start and with the help of an excellent bankruptcy attorney in Baltimore, MD, you can figure out the most appropriate things to do in preparation for your application as well as in the case proper itself.
If you are searching for a Baltimore bankruptcy lawyer, Atty. Richard Hackerman is one of the best there is in all of Maryland! He has been a prominent member of the Maryland Bar for almost 35 years and still continues to provide exceptional legal help to those in need. If you are considering filing for bankruptcy as a way of dealing with your debts, hiring an experienced lawyer like Atty. Richard Hackerman will definitely make a significant impact in the success of your application. He specializes in business law and is well versed with the legalities involved in bankruptcy proceedings. More than that, he also has excellent communication skills and negotiation tactics that can surely be of great help in your case.
How would you know if it really is the most appropriate time to call for a bankruptcy attorney in Baltimore, MD? The easiest way to know is when you can no longer keep up with all your bills, you have long overdue expenses, and your creditors are already demanding for payment. Moreover, if a foreclosure action is being commenced against you on your home and/or your creditors are seizing your bank accounts or paycheck, then you definitely need legal help.
When it comes to bankruptcy, you can file a case to a specific chapter that you qualify for; it can either be under Chapter 7 or Chapter 13. Bankruptcy is intended to regulate and administer the payment and discharge of debts, either by the process of liquidation or reorganization. Bankruptcy is a complex aspect of the law and you are most probably not very familiar with it. That is why you should consult your lawyer to determine in which chapter you are most suitable and can most likely benefit from.
Chapter 7 bankruptcy is more about the liquidation process. Basically, filing under this chapter enables you to sell your properties so that you can repay your creditors. You do not necessarily lose all of your assets because your application will be thoroughly reviewed by Trustees appointed by the Bankruptcy Court, while considering your current financial status as well as your assets. On the other hand, Chapter 13 bankruptcy is a reorganization type. If you have a mortgage on your home and you clearly cannot settle all of your other debts, then it is possible that you may lose your house. Filing under Chapter 13 directs you to make monthly payments over a period of 36 to 60 months to settle your debts, so that you can keep your property. However, to qualify for this bankruptcy, you have to have a steady source of income to ensure that you can make regular payments.
All of these can really be very overwhelming. However, you do not have to worry because Baltimore bankruptcy lawyer, Atty. Richard Hackerman, can help you get out of your debt. The first thing that he will do is to evaluate your case, taking into consideration the types of bankruptcy, your current financial situation, your eligibility to apply, and many other factors. He will be with you all throughout the process – preparation of necessary documents, filing, case proper, and even after your bankruptcy has been approved! He will also assist you in dealing with creditors who continue to harass you even after negotiations and certain agreements have been made.
Atty. Hackerman has helped a lot of people not only in Baltimore, but also in the entirety of the State of Maryland to be free of their debts. So if you are in need of expert and professional legal advice on bankruptcy, call his office at 410-243-8800 or in the evenings or weekends at 443-904-4060 to set an appointment and have a free consultation. You can also visit www.richardhackerman.com for more details on his legal help services as well as on consumer bankruptcy law.