Tag Archives: maryland bankruptcy attorney

Will Bankruptcy Ruin My Life?

Washington DC Bankruptcy Attorney Explains Why the Answer is No You feel like you are buried up to your neck in debt. Time and time again you have worked long hours, extra jobs, saved and maybe even borrowed more to help dig yourself out of the hole. But, you feel like it is to no avail. Maybe you are behind on mortgage payments. Or, maybe you face massive bills due to an unexpected need for medical treatment. You know that bankruptcy can ease some of your debt obligations. However, you are worried that it will be a financial death sentence. So, you ask yourself, “will bankruptcy ruin my life”? We understand and the answer is “no”. The Straight Truth About Bankruptcy Bankruptcy is a multi-step process. The exact details of it depend on whether you file under Chapter 7 or Chapter 13. However, regardless of what you file, your bankruptcy…
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What Taxes Do I Still Owe After Bankruptcy?

A common motivation people have for filing bankruptcy is that it will wipe out their tax debts. While some debts are discharged during bankruptcy, not all are. It depends, in part, on whether you filed for Chapter 7 bankruptcy or Chapter 13 bankruptcy. Let’s take a deeper look at the taxes in bankruptcy you still owe. Taxes You Still Owe After Bankruptcy Chapter 7 bankruptcy – You can discharge tax debts in Chapter 7 bankruptcy so long as they meet the following requirements. Income-based taxes. The only kind of debt that is dischargeable in Chapter 7 is that of federal or state income taxes. Due greater than three years ago. The taxes must be for a tax return that was due at least three years before you filed for bankruptcy. Filed at least two years ago. You must have filed the tax return two years or more prior to filing for bankruptcy. Assessed…
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Tips for Safely Using a Credit Card to Build Credit

Talk to Our Maryland Bankruptcy Attorney Are you recovering from a struggle with debt or bankruptcy? Perhaps you are just becoming financially independent and want to prove you are a responsible consumer. Either way, learning to use a credit card effectively to build credit is an important skill to acquire. Learning to build your credit can allow you to qualify for loans, rental applications and can even affect your job prospects. To get you started on the path to establishing credit, here are some tips for using a credit card to build you credit. How to Use Credit Cards Safely and Effectively Find the Right Card for You: Once you can provide proof of income, you may be ready to apply for a credit card of your own. Before you sign up for one, though, you must do your research to find out which card is best for your needs…
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