Blog about Filing Bankruptcy in Washington DC and Maryland

Can Bankruptcy Affect a Wrongful Death Lawsuit?

Maryland Lawyer Explains How Personal Injury and Bankruptcy Law Intersect Recently, a wrongful death lawsuit involving a Baltimore church van was halted by a bankruptcy filed by the pastors of the Victory Outreach Baltimore Church. Five people died when the van sped off the highway and crashed, leaving only ten survivors. The victims’ family members filed a lawsuit against the church, but due to the bankruptcy claim, compensation for the victims’ families will have to wait until the bankruptcy is resolved. This sad news item gives us the opportunity to reflect on an important question: How can bankruptcies affect a wrongful death lawsuit? How Bankruptcies Can Impact Wrongful Death Lawsuits In the case of the Baltimore church van, the lawsuit was halted in part because the pastors had petitioned a US Bankruptcy Court the day before the wrongful death case was filed. A bankruptcy filing, with limited exceptions, puts an…
Read More »

Reaffirmation Agreements in Bankruptcy

Our Bankruptcy Attorney Discusses How to Keep Property in Chapter 7 Chapter 7 bankruptcy has some key differences from Chapter 13 bankruptcy. In a Chapter 13 bankruptcy, you pay back a portion of your debts in a three-to-five-year repayment plan. With a Chapter 7 bankruptcy, the Trustee gathers and liquidates your nonexempt assets. These are assets that you cannot exempt from the bankruptcy estate. Some types of assets are exempt, meaning you can keep them despite filing a Chapter 7 case. However, there could be additional options for keeping certain assets during bankruptcy. You may also be able to enter into a reaffirmation agreement with the creditor. Our DC and Maryland bankruptcy attorney can answer any questions you have about filing a Chapter 7 case. Contact our bankruptcy attorney to schedule a free initial consultation. Keep reading to learn more about reaffirmation in bankruptcy. What Is a Reaffirmation Agreement? When…
Read More »

What to Expect When Filing for Bankruptcy

Bankruptcy

The decision to file for bankruptcy is not an easy one. The stigma, the damage to your credit and the loss of certain assets can be a struggle. However, filing for bankruptcy is often the best option to reset your finances and move forward into the future without the burden of mounting debt. For individuals considering bankruptcy for the first-time, here is some important information that will prepare you for the process. The Difference Between Chapter 7 and Chapter 13 Bankruptcy Chapter 7 bankruptcy involves liquidating assets in order to discharge most or all of your debt. If you opt for Chapter 7, then you may be able to keep some of your assets. However, you will most likely have to give up the majority of your non-exempt assets. On the other hand, Chapter 13 bankruptcy involves creating a payment plan to pay creditors over a period of time. Chapter…
Read More »