Chapter 7 Bankruptcy
Top Maryland Chapter 7 Bankruptcy Lawyers
Chapter 7 bankruptcy protection allows debtors to receive a discharge of certain debts such that they do not have to repay all or most of their debts. In essence, Chapter 7 bankruptcy protection allows people to start over, free from debt. People who have little to no equity in a home or car and are current with their loan payments may be able to keep their home, cars, and other assets through a Chapter 7 bankruptcy filing.
The Maryland Chapter 7 bankruptcy lawyers at Edwards Phillip Amourgis, PC, will work closely with you throughout the Chapter 7 bankruptcy process to take the stress and worry out of your Maryland Chapter 7 bankruptcy case.
Qualifying for Chapter 7 Bankruptcy Debt Liquidation
Not everyone qualifies (presumed to have a good faith bankruptcy case filing) for Chapter 7 bankruptcy relief. Your income, past bankruptcies, the number of dependents you have, marital status, the amount and type of debt (business vs. person debts) you have, the location of your home within the state, and various other factors all are relevant in determining whether you are even able to file for Chapter 7 bankruptcy protection. The Chapter 7 bankruptcy lawyers at Edwards Phillip Amourgis PC will analyze your financial situation to see if you qualify for Chapter 7 bankruptcy protection.
Discharge Debts in Your Maryland Chapter 7 Bankruptcy Case
After a successful Chapter 7 bankruptcy case is filed, a debtor then receives a discharge that releases them from personal liability for all of their dischargeable debts after a few months. A discharge is a court order which states that you do not have to repay your dischargeable debts. A discharge only applies to debts that arose before the date you filed your Maryland Chapter 7 bankruptcy case.
Dischargeable Debts
Debts that can be discharged are:
- credit cards;
- old income taxes;
- guaranteeing payment for a business or friend in a lease, loan, or other contracts;
- hospital and health care costs;
- deficiency judgments such as from a foreclosed home repossessed car or closed business venture;
- rent; and
- Home loans (if you were current with the loan and there was little or no equity in your home when you filed for Chapter 7 bankruptcy protection). In this situation, you can remain living in the house even though your obligation on your home loan is discharged in Chapter 7 bankruptcy. You would need to keep paying the loans if you wanted to keep the home and remain living in the house, but you would have no personal obligation to your lender(s).
Non-Dischargeable Debts
Some debts, however, cannot be discharged. For example, you cannot discharge debts for:
- Certain taxes;
- Child support;
- Alimony;
- Most student loans;
- Fraud
- Court fines and criminal restitution; and
- Personal injury caused by driving drunk or under the influence of drugs.
One of our Maryland Chapter 7 lawyers can help you determine which of your debts will be discharged and which debts may not be dischargeable.
Free Initiation Consultation
The Maryland bankruptcy lawyers at Edwards Phillip Amourgis, PC work with you to complete your bankruptcy paperwork, file your case, attend meetings and court hearings with you in your main bankruptcy case and work closely with the Maryland Bankruptcy Court, the trustee, and your creditors so that you should have little or no direct interaction with the Maryland Bankruptcy Court. The Maryland bankruptcy lawyers at Edwards Phillip Amourgis, PC, act as your agent between you and your creditors and the court so that you can relax and think about how you will start your financial life debt-free.
Areas We Serve
With offices in Rockville (Maryland), Columbia (Maryland), Frederick (Maryland), Pikesville (Maryland), and Washington, DC, the Maryland Chapter 7 bankruptcy lawyers at Edwards Phillip Amourgis, PC assist clients all over the Baltimore and Washington, DC metro area. Our Chapter 7 bankruptcy lawyers offer the skill and knowledge you need to help you navigate the Maryland Chapter 7 bankruptcy process. Call (301) 841-7188, toll-free at (877) 631-4002, or contact us online to schedule your free initial consultation with one of our Maryland Chapter 7 bankruptcy lawyers.