Chapter 7 and Chapter 13 Bankruptcy in Maryland

Nov. 25, 2013 - PRLog -- There are many misconceptions people may have concerning filing a bankruptcy in the state of Maryland. Many of these misconceptions involve what debt may and what debt may not be discharged through a bankruptcy, more specifically a Chapter 7 bankruptcy. A Chapter 7 bankruptcy is also know as a liquidation bankruptcy and this form of bankruptcy allows filers to eliminate much of their debt. Of course, there are types of debt which are not dischargeable under Chapter 7 of the U.S. Bankruptcy Code and it is important to know what these debts are before you proceed with a bankruptcy in Maryland. In the case of a Chapter 13 bankruptcy, you are not liquidating and discharging debt, but including the debt in a restructuring plan, so it is important to know first of all which form of bankruptcy protection you qualify for so that you may then look into the details of what is allowable under the form of bankruptcy you are filing. A Maryland bankruptcy lawyer can enlighten you on all of these crucial details concerning the type of bankruptcy protection you are applying for.

Typically, you can expect that most forms of consumer debt will be eliminated if you are filing a Chapter 7 bankruptcy. These types of debt may include credit card debt, medical debt, and personal loans. These forms of debt on their own may account for most of a person's debt and by dischargeing them will provide a massive amount of relief. In fact, the amount of people filing a bankruptcy solely due to medical debt has soared over the years as the cost for health care in the United States has become far too expensive for many people to keep on top of. There are some types of debt which are nondischargeable according to Chapter 7 of the U.S. Bankruptcy Code and these debts may include, child support and/or spousal support, most student loans, certain taxes, and criminal fines. If you have any of these nondischargeable debts, you must continue paying on them as you are obligated to do.

A Maryland bankruptcy lawyer understands the complex regulations and laws of bankruptcy law and is the best person you can possibly choose to represent your best interests during the bankruptcy process. When choosing a Maryland bankruptcy attorney to represent your needs during a bankruptcy in the state of Maryland, it is important to take into account the amount of experience and success they have with assisting past clients with their bankruptcy needs in the state of Maryland. A Maryland attorney can help you obtain relief from the creditor harrassment, whether it be via phone calls or collection letters and notices. A Maryland lawyer that handles bankruptcy cases can also help you stop crippling wage garnishment and stop any foreclosure proceedings on your home. If you are unsure of where to begin, start with a Maryland bankruptcy attorney whom knows the structure of bankruptcy proceedings and whom can guide you in the right direction for your predicament.  Learn more how you can hire professional bankruptcy attorneys by visiting http://maryland-legal.org/bankruptcy-attorneys/.