Velez Maryland Law Information

 

Bankruptcy Law

A Maryland attorney that is going to best represent the needs of a bankruptcy client is one whom focus a lot of their legal efforts on bankruptcy law. The laws surrounding bankruptcy are complex, so you will want legal representation that understands the complexity of these laws and is aware of any and all changes made to the bankruptcy code as they are made. Of course, just about any Maryland lawyer may be able to advise you in some way regarding bankruptcy law, but a Maryland bankruptcy lawyer is going to know the laws that make up the bankruptcy code like the back of their hand. So, if you are specifially looking for a Maryland lawyer that can advise you on how to resolve your overwhelming debt dilemma, a Maryland bankruptcy attorney will be the best type of Maryland attorney to guide you through the process of bankruptcy.

The bankruptcy process is one that can be very intimidating and a major reason for this is because most people don't understand bankruptcy law. A Maryland bankruptcy lawyer can help you differentiate the various forms of bankruptcy and advise you on what form of bankruptcy you will be eligible to file for. The quicker you become aware of your options in relation to bankruptcy, the quicker you can take back control of your finances. Beyond advising you on what type of bankruptcy you may petition for, a Maryland bankruptcy attorney can file that petition on your behalf in the U.S. Bankruptcy Court. A Maryland lawyer that offers legal representation for bankruptcy clients is a trained mediator which allows them to effectively negotiate with creditors during the bankruptcy process. This type of legal counsel can really simplify the bankruptcy process and remove that feeling of intimidation that is most often evident at the start of the process, before you have hired legal representation, such as that offered by a Maryland bankruptcy attorney.

A Maryland bankruptcy lawyer that has been hired by an individual is more often than not supporting these clients through the Chapter 7 bankruptcy process and Chapter 13 bankruptcy process. If you are an individual looking for debt relief and you have accumulated more debt than you have assets, then it is more likely that you will qualify for a Chapter 7 bankruptcy. A Chapter 7 bankruptcy is going to offer you debt relief via liquidation of your assets which will be used to pay off your debts. If you have a steady flow of income and a decent amount of assets, you may be better suited for a Chapter 13 bankruptcy. This type of bankruptcy is a reorganization in the sense that a Maryland bankruptcy lawyer will negotiate new terms with your creditors which will make it more likely that you will pay off your debt over the period of three to five years. A knowledgeable Maryland bankruptcy attorney is dedicated to helping clients whom are seeking relief from debt so if you require someone to offer legal advice during the bankruptcy process, don't hesitate to arrange a consultation with a Maryland bankruptcy lawyer.

Changes in Bankruptcy Law

Although there have been changes to bankruptcy law in the past decade, most people who were eligible for bankruptcy prior to these changes to bankruptcy law are still eligible today. Bankruptcy law can be somewhat complicated which is why it is very beneficial to have a Maryland lawyer who handles bankruptcy cases assist you with the filing process of your bankruptcy case. Having a Maryland attorney who is knowledgeable and very experienced with the filing process will lift some of the stress involved with such a case and make the bankruptcy process a little less daunting for you. A Maryland bankruptcy lawyer is capable of assisting clients with Chapter 7 bankruptcies, Chapter 11 bankruptcies, and Chapter 13 bankruptcies. Any questions or dilemmas that arise during the bankruptcy process may be quickly and easily addressed by your Maryland bankruptcy attorney.

If you are filing bankruptcy in the state of Maryland, a Maryland bankruptcy lawyer will tell you it is rather simple to determine whether or not you are eligible to file for Chapter 7 bankruptcy, Chapter 11 bankruptcy, or Chapter 13 bankruptcy. For instance, if you are interested in filing a Chapter 7 bankruptcy in Maryland, a Maryland bankruptcy attorney can assist you with determining your eligibility through a Maryland “Median Income” test which is simply determining whether or not your monthly income falls short of the established Maryland median income for your household size.

Your Maryland lawyer will be well acquainted with and informed on the new laws that were put into place which is crucial because there are restrictions and stipulations that can have a negative impact on your particular case if you proceed with the bankruptcy process that you are eligible for yet are not familiar with the new laws. A Maryland attorney can help you discharge your debt if you are filing a Chapter 7 bankruptcy or assist you with drafting a feasible repayment plan if you are filing a Chapter 13 bankruptcy. Maryland lawyers that practice bankruptcy law can help you with obtaining a fresh financial start by addressing and resolving your financial issues through the filing of a bankruptcy.