Bankruptcy can add an extra layer of challenge to anyone’s life. It’s particularly hard for a divorced woman relying on domestic support obligations. Women, especially women going through a life-changing event such as a divorce, can be hit hard. Some might be facing a substantially reduced income while trying to care for children, find employment or set up a new household. Read more
Bankruptcy is a process to relieve and resolve personal and business debt. Two of the most commonly used types of bankruptcies under the U.S. Bankruptcy Code are Chapters 7 and 13. We’ll explain the differences between the two, and answer some of the common questions we hear.
What is the difference between Chapter 7 and Chapter 13 Bankruptcies?
What is Bankruptcy?
Bankruptcy is a debt relief process. Bankruptcy in Maryland follows state code requiring lawyers providing bankruptcy advice to identify themselves as “debt relief agencies.” It is important to note that bankruptcy is not the only process to assist individuals and businesses in the management of difficult financial situations. However, the options outside of bankruptcy are best considered after understanding the impact that a bankruptcy would have on an individual, a married couple or a business’s financial issues. Read more