Washington DC and Maryland Bankruptcy eNewsletters

What is Lien Stripping in Bankruptcy?

Bankruptcy Attorney Explains Chapter 13 for Maryland and Washington DC The United States Supreme Court is reviewing two Bank of America appeals. The bank is hoping that they can convince the court to overturn two rulings, Bank of America v. Caulkett and Bank of America v. Toledo-Cardona, which allow stripping of a lien. In both cases, Bank of America is not the primary lender. Chapter 13 bankruptcy lien stripping helps heavily indebted people find some semblance of relief. In addition, they can keep their house and possibly discharge part of their debt after they fulfill their Chapter 13 payment plan. What Are the Requirements for Lien Stripping? Lien stripping is applicable in Chapter 13 bankruptcy throughout the United States. Additionally, the value of your house must be less than your mortgage and you must have multiple mortgages or lines of credit on the house. Suppose you have a house with…
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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…
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The Perils of Filing for Bankruptcy without an Attorney

With all the bankruptcy information and forms available on the Internet, some people have taken to filing for bankruptcy on their own without any help from an experienced bankruptcy attorney. This is a mistake, as even the United States Federal Courts system recommends using an attorney when filing for bankruptcy. If you would like to learn more about the nuances and complexity of filing for bankruptcy, a Washington DC or Maryland bankruptcy lawyer can guide you through the filing process. Why Filing for Bankruptcy with an Attorney is Important Filing for bankruptcy is an important decision that will have important financial and legal consequences for the rest of your life. For these reasons, it is always advisable to have the assistance of an experienced bankruptcy attorney when filing for bankruptcy. There are too many loopholes, details, and changes in the law for people to file properly on their own. The…
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Avoiding Foreclosure During Bankruptcy

Data from the National Association of Realtors has shown that sales of homes selling under $100,000 and from $100,000 to $250,000 have gone up, 38.8 percent and 8.7 percent respectively. This is significant even though higher price ranges have shown losses. Nevertheless, the increase in buyers for the lower price ranges could mean that the percentage of foreclosures may go down on properties in that price range for which the current owners can no longer keep current on mortgages and property taxes. If you are currently behind on your mortgage and you are thinking about protecting and keeping your home, contact a Maryland or Washington DC bankruptcy attorney to find out how to avoid foreclosure while in bankruptcy. Filing a Chapter 13 Bankruptcy to Avoid Foreclosure Many times, a mortgage company will not start foreclosure proceedings until at least a few months of missed mortgage payments. However, even a few…
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