Start Life Afresh With Quality Bankruptcy Lawyers in Maryland

• Any form of bankruptcy can be a shattering experience for a person or a business. Filing for bankruptcy involves high levels of anxiety and distress, which are further compounded by all the requisite legal paperwork and documents.

• Quality bankruptcy lawyers in Maryland can be trusted allies as you prepare to start a new journey toward a fresh financial start.

• Knowledgeable and experienced lawyers belonging to established law firms have the necessary experience and qualifications to ensure that all your paperwork and related documents are filled out correctly and filed on time.

• In the following paragraphs we shall deal in detail with different types of bankruptcy filing along with their advantages and disadvantages. We shall also see why it is important to hire the services of a good bankruptcy lawyer irrespective of the type of bankruptcy.

• There are basically four types of bankruptcy. They are named for their respective chapters in the United States bankruptcy code.

• Chapter 7 Bankruptcy• This is a liquidation bankruptcy that is available to

individuals as well as corporations and partnerships.• The duration of a Chapter 7 bankruptcy is usually about four

to six months. Businesses, however, try to avoid filing for Chapter 7 bankruptcy as it is impossible to carry out business operations during the period.

Chapter 11 Bankruptcy

• A Chapter 11 bankruptcy is a rather complex type. This is the reason that these types of bankruptcy filings are done largely by business organizations.

• Individuals occasionally opt for Chapter 11 bankruptcy, but it is primarily used by large corporations facing insolvency to pay off their debts through a repayment plan.

Chapter 13 Bankruptcy• A Chapter 13 bankruptcy, also called a wage earners plan, is

similar to Chapter 11 bankruptcy, though it is more suited for individuals rather than businesses.

• In this type of bankruptcy, individuals are given the option of retaining their assets by using their income to pay off the debts anywhere between a duration of three to five years. The repayment plan is approved by the court after determining the income of the individual and evaluating whether it is enough to meet debt obligations.

Important Benefits of Hiring Good Bankruptcy Lawyers in Maryland

• Bankruptcy is a complicated process, and the exact steps can vary from state to state. This makes it imperative on your part to hire the services of a good Maryland bankruptcy lawyer who can guide you in the selection of the right type of bankruptcy filing.

• Some of the important benefits of hiring the services of expert bankruptcy lawyers are as follows:

• Get a fresh start. Good bankruptcy lawyers are thoroughly aware of different types of bankruptcy filings and their suitability for you. This enables them to select a type of bankruptcy most suitable to manage your debts with a minimum of hassle and maximum of convenience.

• Eliminate all types of harassment. People who owe money to their creditors often receive calls from them at odd hours. These calls made at home or social gatherings result in acute embarrassment and harassment for the debtor.

• Filing for bankruptcy does not mean that your creditors cannot call you, but the biggest advantage is that now all the calls are handled by your attorney, resulting in much-needed peace of mind.

• Filing for bankruptcy can be a nerve-racking experience that often results in mental agony and harassment. People are generally not aware of different types of bankruptcy and the paperwork and procedure associated with them.

• The law offices of Rowena N. Nelson, LLC, providing its services in Maryland and Washington, DC, areas, perfectly understand the distress and complication associated with bankruptcy.

• This law firm as such has expert bankruptcy lawyers who possess the knowledge and professionalism to mitigate your emotional and financial distress to a great extent by carrying out the entire bankruptcy procedure for you in a timely manner.

Contact us

Please give us a call to take control of your life301.358.3271

Address: 1801 McCormick Drive Suite 150Largo Maryland, 20774Office - 301.358.3271Fax - 877.728.7744