Howard County Bankruptcy Lawyers

When your debts are piling up and creditors are constantly contacting you, it can feel like there are no options. Bankruptcy law provides a legal path to a fresh financial start. By seeking bankruptcy protection, you may be able to eliminate or restructure many of your debts, giving you the breathing room to regain control over your finances.

Speaking with an experienced Howard County bankruptcy lawyer can help you understand whether bankruptcy is the right choice for your situation and how to take advantage of the legal protections available.

Chapter 7 Bankruptcy

Bankruptcy law in the United States includes several chapters, each designed for different financial circumstances. Often called “liquidation bankruptcy,” the Chapter 7 bankruptcy process allows individuals to eliminate most unsecured debts, such as credit cards and medical bills. Some assets may need to be surrendered to a court-appointed trustee to pay creditors, but certain property protections under Maryland law can allow you to keep essential assets.

A skilled bankruptcy attorney can evaluate your financial situation and advise which chapter may best suit your needs.

Will Bankruptcy Stop Creditor Calls?

One immediate benefit of filing for bankruptcy is the automatic stay, which goes into effect as soon as your petition is filed with the court. The automatic stay legally prohibits creditors from contacting you, initiating collection actions, or filing lawsuits regarding debts included in your bankruptcy case.

This protection gives you breathing room to address your finances without constant harassment. For Chapter 7 filers, many debts are discharged at the conclusion of the process, which means creditors cannot contact you about those debts even after the case is closed.

Will My Debts Be Discharged?

Bankruptcy can provide relief from many types of debt, but not all debts are dischargeable.

  • Dischargeable debts often include credit cards, medical bills, personal loans, and other unsecured obligations.
  • Non-dischargeable debts include most student loans, certain taxes, child support, and debts secured by property, such as mortgages or car loans. Secured debts may require reaffirmation or surrender of the property if not paid.

Protecting Your Property in Bankruptcy

Maryland law provides exemptions that allow you to protect certain property during bankruptcy. These may include:

  • Homestead exemptions to protect equity in your primary residence
  • Wildcard exemptions that allow you to protect a certain amount of personal property (up to $6,000)
  • Retirement accounts and benefits, which are generally protected from creditors

The exact property you can keep depends on your individual circumstances, and your bankruptcy lawyer will help you evaluate which assets are exempt and which may be subject to liquidation.

The Bankruptcy Process in Howard County, Maryland

The bankruptcy process in Maryland generally follows these steps:

  • Credit Counseling: Before filing, you must complete a mandatory credit counseling course from an approved provider.
  • Filing a Petition: You or your attorney file a bankruptcy petition with the court, outlining your financial situation, assets, and debts.
  • Appointment of a Trustee: The court assigns a bankruptcy trustee to oversee your case and manage any non-exempt assets.
  • Meeting of Creditors: Known as a Section 341 meeting, creditors can ask questions about your financial situation and raise objections to your filing.
  • Liquidation or Repayment: Non-exempt assets may be used to repay creditors (primarily in Chapter 7), or a repayment plan is established (in Chapter 13).
  • Discharge of Debts: At the conclusion of the process, eligible debts are discharged, releasing you from legal obligation to pay them.
  • Credit Rebuilding: Once your bankruptcy case is complete, you can begin rebuilding your credit and financial stability.

Why You Need a Howard County Bankruptcy Lawyer

Bankruptcy is a legal process with strict requirements and significant consequences for mistakes. Filing errors, incomplete disclosures, or attempts to conceal assets can result in denial of your case or even legal penalties.

Hiring an experienced Howard County bankruptcy lawyer:

  • Ensures your paperwork is accurate and complete.
  • Helps identify the best chapter and strategy for your situation.
  • Maximizes the debts you can discharge and assets you can protect.
  • Provides guidance through creditor disputes or court proceedings.

While hiring an attorney is an investment, it significantly increases the likelihood of successfully discharging debts and obtaining a fresh financial start.

Contact Our Howard County Bankruptcy Lawyers at LeViness, Tolzman & Hamilton

If you are struggling with debt and are unsure of your options, our Howard County bankruptcy lawyers at LeViness, Tolzman & Hamilton can help. We provide a free initial consultation to review your financial situation and discuss your options. Call 800-547-4LAW (4529) or submit our online contact form.

We have offices in Baltimore and Owings Mills, allowing us to represent clients in Maryland, including those in Anne Arundel County, Baltimore County, Carroll County, Harford County, Howard County, Montgomery County, Maryland’s Western Counties, Prince George’s County, Queen Anne’s County, Southern Maryland, and the Eastern Shore, as well as the communities of Catonsville, Essex, Halethorpe, Middle River, Rosedale, Gwynn Oak, Brooklandville, Dundalk, Pikesville, Nottingham, Windsor Mill, Lutherville, Timonium, Sparrows Point, Ridgewood, and Elkridge.