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If you find yourself suffering from a great deal of anxiety due to your financial difficulties, don’t go it alone. Many people in this situation can’t even consider bankruptcy because they are so stressed and so busy trying to make ends meet. People with serious debt often take out lines of credit to pay current debts, giving weight to the old adage “Robbing Peter to pay Paul”. This leads you further down the path of financial destruction.

Do not despair and do not go it alone. Our Waldorf bankruptcy attorneys can help you determine if bankruptcy is the right choice for you and we will walk you through every step of the process of finding a fresh financial start through bankruptcy.

At the Law Office of Thomas E. Pyles, P.A., we have over 25 years of experience representing clients throughout the state of Maryland in a range of legal matters. Waldorf bankruptcy lawyer Thomas E. Pyles is a personable and kind human being. Clients of our firm appreciate his candid, approachable demeanor and his honest, compassionate representation. We return client calls and remain available to our clients throughout their legal matters.

Our Waldorf Bankruptcy Attorney Helps Clients Find a Fresh Start through Chapter 7 or Chapter 13 Consumer Bankruptcy.

  • A Chapter 7 Bankruptcy is debt liquidation option to help people eliminate debts quickly and get a fresh financial start
  • A Chapter 13 Bankruptcy is for people who can’t qualify for Chapter 7 due to high income levels and those who have extended assets that they can still afford. This is a re-organization/repayment plan that involved a 3-5 year repayment plan after which time the remaining debt is eliminated.

A Chapter 7 bankruptcy is straight forward. You file and then you have a 341 meeting and you only have one hearing. At the end, you get a discharge and all of your debts are discharged. A Chapter 13 bankruptcy is basically for homeowners who have fallen behind in their mortgage and have accrued significant arrearage and need to make that up in a payment plan. It is also utilized by those whose income is significant enough that it would be considered abuse of the means test for them to file Chapter 7. They would need to file a Chapter 13 and restructure your debt. Whatever filing you need, we strongly encourage you to contact a Waldorf bankruptcy lawyer. 

Will I Lose Everything I Own If I File Bankruptcy in Maryland?

If you file bankruptcy, it does not mean that you will lose everything. Under the bankruptcy code, once you file, a bankruptcy stay is issued and all of your possessions belong to the estate. Under Maryland law, you can exempt up to $12,000.00 worth of personal property, regardless of what it is and how it is titled. So, if you have $12,000.00 in the bank you can exempt that. If the fair market value of your total assets was less than $12,000.00, you can keep all of that. If you do have an excess of $12,000.00, the trustee may require you to liquidate some of the assets or turn over some of the cash that exceeds your exemption limit. If this is a substantial amount, you may need to consider filing a Chapter 13 bankruptcy, which is a debt reorganization bankruptcy. You should contact an experienced Waldorf bankruptcy attorney to find out what your options are.

Do I Need an Attorney to File Bankruptcy?

You should hire an experienced Waldorf bankruptcy attorney to help you file. Bankruptcy is not generally something you can do on your own. In Maryland, they must be filed electronically and they are hard to do. You must understand bankruptcy law so that you can file your petition correctly and that it will go smoothly when you go in front of your 341 meeting with the Chapter 7 trustee. There are certain documents that must be given to the trustee prior to the hearing and if you hire an attorney they will be able to walk you through this process.

Hire a Competent Bankruptcy Lawyer in Maryland.

Do not wait. If your debt and expenses amount to more than your income every month, you are in serious financial trouble. Talk to a Waldorf bankruptcy attorney at our firm, to discuss the option of bankruptcy. Call 301-705-5006 or contact us online to schedule your initial consultation.

We are a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code at our offices in Waldorf, Laurel and Leonardtown.