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Is bankruptcy right for me and if so which kind. Maryland

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  • Is bankruptcy right for me and if so which kind. Maryland

    As of right now I have two debt collectors calling 1 of which I am paying and barely making it and another I am unable to pay therefore I avoid them. I live on my own and pay for my own food, rent, bge, and etc which is leaving me short on change. I'd really like to start over or settle all my debts but none of them are willing to settle for anything affordable or anything I can refinance into one bill or into monthly payments. I'd really like to keep my assets if possible I don't want to have a bank repossessing my car other things because of filing.. any suggestions?

  • #2
    You need to talk to a bankruptcy attorney to see if bankruptcy might be right for you. He/she will ask for details re your assets/debts, etc. that we don't know. Sometimes you can get a free initial consultation. You can also get a Nolo book on bankruptcy to read & see if it seems bankruptcy might be right for you & then talk to an attorney. An attorney can also tell you whether Chapter 7 or 13 bankruptcy would be the right one for you.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

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    • #3
      Check out Nolo Press' book on Bankruptcy - your local library should have it. It will answer lots of questions. How much are these debts? Many companies won't sue if it's small. Also, there is a letter you can send them that tells them to quit contacting you, and they have to. Is your car one of the debt's? Secured debts (like a house or car) can be repo'd or foreclosed on.
      I am not an attorney, and don't play one on TV. Any information given is a description only and should be verified by your attorney.

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      • #4
        You need to read up on or have a lawyer explain to you the difference between a Chapter 7 & Chapter 13.
        Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

        Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

        Comment

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