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chapter 7 bankruptcy in maryland Tag

Covid-19 Pandemic & Its Impact on Businesses

personal bankruptcy chapter 11 in MD

Covid-19 Pandemic & Its Impact on Businesses Companies large and small are falling prey to the impact of Covid-19. Market experts are estimating that this year will easily set a record for the number of filing for bankruptcies. Even a semblance of a turnaround is unlikely to change the picture. What about individuals? If individuals face dire financial issues, bankruptcy is an excellent chance to press the rest button. For many senior Americans, bankruptcy does bring much-needed relief from debt brought by various factors including medical expenses and the need to help children. A lawyer specializing in chapter 7 bankruptcy in Maryland says, “Bankruptcy is a...

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Frequently Asked Questions on Bankruptcy Chapters 7 and 13

chapter 13 bankruptcy in Maryland | chapter 7 bankruptcy in Maryland

Imagine you have a magic genie. You make a wish, “let all my debts vanish.” The genie obeys your command. You are debt-free! Well, life isn’t always a fairy tale. And when it isn’t, there are bankruptcy lawyers to help you come out of the debt trap. It is not easy to file for bankruptcy. At times, it may not be the best option. It is good to take legal advice before filing. There are chapters to choose from. A legal counsel can guide you in the choice of chapters and in every step of the filing procedure. With a...

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Chapter 11 Bankruptcy Allows Your Business to Stay Open While Reworking Your Financial Obligations

chapter 11 bankruptcy attorney md

Chapter 11 usually makes big news when large companies fall into financial difficulty. It is a form of bankruptcy that involves the restructuring of the debtor company’s business affairs. In a nutshell, Chapter 11 offers the debtor a fresh start. It begins with the filing of a petition in the bankruptcy court. Typically, this version of bankruptcy is voluntary. In such a scenario, the debtor takes the lead and seeks bankruptcy relief. It is also possible that creditors or lenders may group together to file an involuntary petition against the defaulting company. Here is how Chapter 11 operates The court will help the...

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