Baltimore Bankruptcy Lawyers
Our Baltimore Law Firm Helps Debtors File for Chapter 7 Bankruptcy in MD
Helping You Make a Fresh Start
If you feel buried under debt and the bills keep piling up, you might consider bankruptcy to make a fresh financial start. LeViness, Tolzman & Hamilton will evaluate your circumstances to determine whether you qualify for Chapter 7 bankruptcy and whether it may be the right choice for you.
During the 33 years since our firm was founded in Baltimore, the bankruptcy laws have undergone many significant changes, most notably in 2005, when legislation introduced means testing, credit counseling and tax return requirements. Our attorneys remain up to date on the bankruptcy statutes and how the current economic environment and judicial interpretations affect your rights and options.
Means Testing is The First Step in a Chapter 7 Bankruptcy
The means test is a formula to determine your eligibility for a Chapter 7 bankruptcy. Based on Maryland’s median income — an amount established by federal law — our attorneys calculate whether your income satisfies the means test. If you earn too much money to file for Chapter 7 bankruptcy, we may suggest Chapter 13 as an alternative.
Chapter 7 Exemptions
Chapter 7 is often referred to as liquidation bankruptcy, because the court can order sale of the debtor’s property to pay creditors. However, through our strategic application of legal exemptions, we are often able to preserve most — and often all — of our clients’ property. For example, by law, you are entitled to keep most of your household belongings and tools of the trade. Our Maryland bankruptcy lawyers also engage in negotiations with the bank to reach a reaffirmation agreement so you can keep your car and continue paying down your loan.
Stop Creditor Harassment Now
The relentless pursuit by collection agencies only adds to the stress associated with overwhelming debt. Once you file your bankruptcy petition, the heaps of letters and constant phone calls must end. Creditors and collection agencies are barred from contacting you during bankruptcy proceedings and are prohibited from seeking payment on discharged debts when your bankruptcy is finalized. In addition, your bankruptcy stops foreclosure actions, meaning that you are permitted to remain in your home as we negotiate an agreement on past-due amounts of a delinquent mortgage.
Baltimore Bankruptcy Lawyers at LeViness, Tolzman & Hamilton Offer the Advice Needed on Your Chapter 7 Claim
Learn whether or not Chapter 7 bankruptcy is right for you. Call LeViness, Tolzman & Hamilton at 800-547-4LAW (4529) or contact our firm online to schedule your free initial consultation. Our Maryland bankruptcy lawyers serve clients throughout the state.