There are a couple of different options when it comes to consumers filing for bankruptcy. Chapter 13 bankruptcy in Baltimore, MD. is for those who have consumer debt that is mostly secured. Those who are in danger of foreclosure or losing their vehicle to repossession can often prevent these actions from taking place. To find out if you are a good candidate for chapter 13, it is a good idea to sit down with a lawyer and go over your financial records.
When you meet with a lawyer for Chapter 13 Bankruptcy in Baltimore, MD. it is important you bring in information on all the debts you owe. It does not matter whether you owe thousands or a hundred, these need to be brought in. You will need to know the contact information and your account information for each debt.
You will also need to bring in proof of your income and any assets you own. All this information will be needed to ensure that you are a good candidate for bankruptcy, and that your paperwork can be filed in court.
Each debt will need to be listed in your documents for filing. Each creditor will be contacted and offered the opportunity to respond and even object to your filing status. It will be up to the judge to grant your bankruptcy decree and decide how much you will be required to pay each month.
You will pay a monthly payment to the court that will be dispersed among those you owe. The period of bankruptcy can vary and is usually between two and five years. This will depend on the amount of debts owed and the amount of income the person has coming in.
When you file Chapter 13 bankruptcy in Baltimore, MD. your creditors can no longer contact you and you will not face any judgments, wage garnishments, or foreclosure. This gives you time to get back on your feet and overcome your debt.
If you are dealing with more debt than you can handle, contact the office of Christman & Fascetta LLC. They can meet with you and give you legal advice on filing for bankruptcy so you can get out from under your debt.
