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Chapter 7 & 13            Payment Plans              Low Fees                410~484~4900         Experience gained in thousands of cases.                        There is no substitute for experience!

Inexpensive Bankruptcy Lawyer
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Bruce Lamb, Attorney at Law
B.S., MLA., PhD, J.D.

"Bankruptcy ~ Low Fees ~ Payment Plans!"
Upon receipt of your call we can explain your options including Chapter 7 & 13.
410~484~4900   24/7

A Chapter 13 case is a re-organization in which the debtor repays a portion of her debt, while much of the rest is forgiven. As in a Chapter 7 proceeding, you may retain p to $11,500 in personal property, along with the tools of your trade and any retirement accounts. In the course of preparing a chapter 13, you and our attorney will prepare a budget and a repayment schedule, which will cover your legal fees and will pay your creditors at lease fifteen per cent on the principal. The chapter 13 bankruptcy will ordinarily save your house and car. Chapter 13 is not available in all bankruptcy filings, however, since you will need to be able to prove to the trustee that after paying for mortgage, insurance, gasoline and groceries, that there will be a surplus of at least fifteen per cent of your principal to finance the plan.

Student loans are not ordinarily dischargeable in bankruptcy; however, an exception exists in cases of hardship, such as permanent disability, or if the debt was incurred through fraud on the part of the institution, as happened in the case of Corinthian College and ITT Institutes.

Filing bankruptcy will stop a garnishment in its tracks. Moreover, you may be entitled to a refund of some or all of the garnished wages.

Filing bankruptcy instantly stops harassing phone calls from creditors. By law, creditors must halt all contact with you as soon as you file.

Filing bankruptcy will stop a foreclosure of your house or repossession of your vehicle through the automatic stay provided in the bankruptcy statute.

Filing bankruptcy will stop any wage garnishment, and may even get you a refund of some of your garnished wages.

garnishment - garnishment is a process by which property, such as bank accounts and wages, may be intercepted by a creditor. Bankruptcy proceedings will stop garnishments immediately.

preference - A preference is a payment to a creditor within a certain time period before the filing of a bankruptcy. Such a payment must be returned to the bankruptcy estate for distribution to unsecured creditors or, depending on the status of the exemptions, to the debtor.

Exemptions. In Maryland, any debtor can exempt up to $12,500 in personal property and household goods, as well as any funds in qualified retirement plans, and the tools of your trade, including computer equipment.

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© Bruce Lamb, 2015