Will I Lose Everything if I File for Bankruptcy in Maryland?
Let Our Washington DC and Maryland Bankruptcy Lawyer Help
Creditors may try to use your property and assets, known as your “bankruptcy estate”, when you file for Chapter 7 bankruptcy or Chapter 13 bankruptcy. A combination of state and federal laws determine what your bankruptcy estate can include or exempt. The Washington DC and Maryland bankruptcy lawyer at the Law Firm of Kevin D. Judd can assist you in determining which Maryland state bankruptcy exemptions you may be able to use to your advantage.
Washington DC and Maryland bankruptcy attorney Kevin D. Judd can help you to safeguard some of your possessions by determining your qualifications for available state and federal exemptions.
Maryland Bankruptcy Exemptions
Some of the state exemptions available to Maryland residents are:
- Insurance – Proceeds from health or disability benefits or settlements, medical insurance benefits, and life insurance or annuity earnings
- Pensions – State employee pensions are exempt.
- Public Benefits – Crime victims’ compensation, unemployment compensation, and workers’ compensation
- Tools of Trade – Up to a specified amount, your clothing, books, tools, and instruments used in your trade (not including your car) can be exempt
- Wild Card - The wild card exemption can help you keep a specified amount of cash, real, or personal property out of your bankruptcy estate and away from creditors
Use Maryland Exemptions to Your Best Advantage
Contact our experienced Washington DC and Maryland bankruptcy attorney at the Law Firm of Kevin D. Judd to help you ascertain which federal or state exemptions can best safeguard your possessions. Protect your most valuable property from creditors, and keep as many of your belongings as possible while we work together to regain your financial stability.
Your gateway to financial freedom.
Free initial phone consultation. Located near the Navy Memorial/Metro Station.