The Baltimore Business Journal (BBJ) released its Largest Layoffs in Maryland list last week, which ranked businesses by number of jobs they eliminated in 2012.
According to the BBJ, the top five job losers were:
- RG Steel LLC- 1,975 jobs
- Unilever US Inc.- 420 jobs
- HMSHost Corp.- 396 jobs
- University of Maryland Medical System/University Specialty Hospital- 350 jobs
- Jessup Logistics LLC/C&S Wholesale Grocers- 244 job
RG Steel filed for Chapter 11 bankruptcy last May, closing its steel mill in Sparrows Point. The numbers were provided to the BBJ through the Maryland Department of Labor, Licensing and Regulation.
We would suggest that some of these laid off workers look into filing for personal bankruptcy if they have debt issues. You can eliminate the following financial burdens through Chapter 13 or Chapter 7 bankruptcy:
- Collections: Through the automatic stay, bankruptcy ends collection attempts, so harassing daily phone calls will stop.
- Garnishments: Bankruptcy stops wage and bank account garnishments because collection efforts end, allowing you to save your hard earned money.
- Repossession: When you file for Chapter 13 bankruptcy, you can work out a repayment plan allowing you to keep secured property.
- Lawsuits: Most lawsuits end after bankruptcy filings because of the automatic stay prevents debt collectors from coming after you.
- Foreclosure: Under Chapter 13 bankruptcy, you can reorganize your debt and make payments toward your home.
For most debtors, bankruptcy is the best way to dig out of a financial hole. If your financial situation is a problem, contact our Washington DC and Maryland bankruptcy lawyer now for a free consultation.
Law Firm of Kevin D. Judd
Judd’s Judgment: According to the BBJ, greater Baltimore lost 35 percent of its manufacturing jobs between 2000 and 2010.