If you live in Kent County, Maryland and are under water financially you should contact the Kent County Maryland bankruptcy lawyers at The Law Offices of John P. Downs. With over 20 years combined experience handling bankruptcy cases throughout the Annapolis, Baltimore, Bel Air, Chestertown, Elkton and Salisbury areas they have the skills and resources to help you during this trying time.

Contact our Chestertown bankruptcy lawyers today for a free consultation with an experienced Maryland bankruptcy attorney. Dial (410) 398-0313 today.

Maryland Bankruptcy Options

Maryland offers 2 separate bankruptcy options for consumers, individuals and families. These are:

Chapter 7

Chapter 13

Each option offers different options for debt relief. The option that best suits you will depend on your financial goals and what you are trying to achieve by filing bankruptcy. A Chapter 7 bankruptcy is by far the most common type of bankruptcy filed in Maryland. In fact, in 2014 Chapter 7 filings accounted for approximately 67% of all Maryland bankruptcy filings. A Chapter 7 is a liquidation bankruptcy and for the most part allows you to walk away from most debt and start over. Debts that can be discharged in Chapter 7 are: medical bills, credit card debt, loans, personal loans, gambling debt and debt owed to family and friends. Student loans, child support arrears, spousal support arrears and most tax debt cannot be discharged in a Chapter 7.

A Chapter 13 bankruptcy is essentially a consolidation program where all arrears payments are consolidated and repaid over a period of time (usually up to 60 months). A Ch. 13 is a better fit for those with multiple properties they want to keep, those with tax debt, student loan debt, spousal support and child support arrears.

To learn what option os best for you please contact our team of Chestertown bankruptcy lawyers for a free consultation.