Chapter 13 Bankruptcy Lawyers Maryland

When the phone constantly rings with calls from creditors about your loans, whether that is for medical bills, car loans, or tax debt, filing bankruptcy in an MD court may feel like your only option. Fortunately, the Chapter 13 bankruptcy lawyers Maryland at Parker, Pallet, Slezak & Russell, LLC are here to help. 

State and federal bankruptcy laws can be complex, and if you are not practicing bankruptcy law, you may feel lost. Fortunately, an experienced bankruptcy attorney can guide you through this process, represent you in bankruptcy court, and help you secure a financial situation that gives you the freedom to repay your debts and regain your economic freedom.

Chapter 7 vs. Chapter 13 Bankruptcy

For individuals and even small business owners, Chapter 13 and Chapter 7 bankruptcy are two of the most common Maryland bankruptcy cases, which offer vastly different experiences. Chapter 7 bankruptcy offers the chance to liquidate assets and forgive remaining debt to create a quick fresh start.

Bankruptcy Chapter 13 Document

Chapter 13 bankruptcy is different. In these cases, you and your bankruptcy attorney will work out a repayment plan that allows you to pay back your debt over the course of three to five years. This consolidates your payments into an amount you can afford while living on your current income. 

For those who are willing to wait for financial freedom, creating this plan with a bankruptcy trustee can help you file bankruptcy, remove certain debts, and avoid penalties like wage garnishment while you pay this off. Maryland bankruptcy lawyers can provide the details and support you need throughout this process.

Do I Need an Attorney to File for Bankruptcy? 

While an MD bankruptcy attorney is not required, having legal counsel on your side can help you navigate the bankruptcy process more securely. Having a law firm to represent you in district court can also help you avoid mistakes you may make due to a lack of legal experience. 

Filing bankruptcy can be a complex situation for both individuals and businesses. Your secured debt and unsecured debts may be difficult to manage without the services of an attorney, like those from our office. 

Maryland Chapter 13 Bankruptcy FAQ 

When you are facing bankruptcy cases, you may have questions for a bankruptcy lawyer that can vary depending on the specifics of your case. You may be concerned about the legal fee costs, what could happen to a personal injury settlement, or what to do if you are accused of fraud.

The attorneys at our law offices understand the Maryland bankruptcy code and can guide you through your case. Reach out to a Maryland bankruptcy attorney to learn more about your case, and check out the questions below for a general idea of the aid we can offer to bankruptcy clients.

Do I qualify for Chapter 13 in Maryland?

Qualifying for Chapter 13 bankruptcy in Maryland depends on the specifics of the money you make. Your income and assets must be enough to pay your basic living expenses before wage garnishments and other payments, as well as an extra payment for your debts. Reorganization requires repayment, so you must be able to meet this basic need to qualify.

What is the income limit for bankruptcy in Maryland?

While Chapter 13 bankruptcy does have income minimums, there is no income maximum. Your income only has to be enough to pay your basic needs, including mortgages or rent, groceries, and other expenses like medical care.

How do you survive Chapter 13 bankruptcy?

Filing for Chapter 13 bankruptcy can be scary. You may be overwhelmed by credit, facing foreclosure, or at risk of losing your business. Surviving Chapter 13 bankruptcy requires reorganizing and repaying these expenses, which can be difficult. 

Fortunately, you can survive with the help of a law firm full of attorneys who have passed the Maryland bar and who are ready to aid you in this difficult time. We strive to help each of our clients feel like they are our only client as we meet their needs. 

What does Chapter 13 bankruptcy take care of?

Rather than liquidating and forgiving your debts, chapter 13 bankruptcy requires repayment over three to five years. Because of this, rather than having limits on certain debts, such as alimony or child support after a divorce, all of your personal and professional debts can be consolidated into a single payment. 

That makes it possible to pay your debts down over time and have the remainder forgiven, resulting in low fees and less severe interest rates.

Reach Out to a Bankruptcy Attorney in Maryland

Debt can overtake your life in a moment, and it can be difficult to find a way out on your own if you do not practice law. Having a Maryland bankruptcy lawyer on your side during this time can make a big difference in how you can overcome these debts and get your life back on track. 
Whether you are facing individual or business-related debts, reach out to our team at Parker, Pallet, Slezak & Russell, LLC for a free consultation to learn more about how we can represent you in bankruptcy court and offer the help you need during this difficult time. To learn more, set up your consultation by calling or completing our online contact form.

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"I had an amazing experience with Parker, Pallett, Slezak and Russell. My lawyer was Carmen Slezak she was amazing her and her team worked with me every step of the way. Amazing staff always an amazing atmosphere, friendly, and if you like dogs they have one or two at the office. I'm so thankful and greatful to have met the staff and feel almost like family. Thank you again Parker, Pallett, Slezak & Russell law office."
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Parker, Pallett, Slezak & Russell, LLC

11450 Pulaski Hwy
White Marsh, MD 21162
Toll free: (410) 779-3590