Call Us Today 240-200-0076
Recent Blog Posts
Unemployed and in Debt? Your Bankruptcy Options in Maryland
As if losing your job is not stressful enough, watching your bills pile up with no income to cover them can make the pressure feel overwhelming. Maryland residents facing unemployment and mounting debt may find that bankruptcy offers a much-needed lifeline. Whether you are dealing with credit card debt, medical bills, or a potential foreclosure or repossession, understanding your legal options is crucial.
Fortunately, being unemployed is not an automatic disqualification from filing for bankruptcy. In fact, Chapter 7 bankruptcy may be even more accessible because of your financial situation. It is important to speak to a knowledgeable Montgomery County, MD bankruptcy attorney if you are considering filing for bankruptcy while unemployed.
Bankruptcy Eligibility in Maryland
Chapters 7 and 13 are the two most common types of consumer bankruptcy. Chapter 7 bankruptcy is typically for individuals with lower income and assets, while Chapter 13 is designed for those who have a regular income and can repay debts over a period of three to five years.
Should I File for Chapter 7 or Chapter 13 in Maryland?
The first step towards bankruptcy is making the decision that it is time to explore your options. Choosing the right chapter is the next step. In Maryland, most people file under either Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code. Each option serves a different purpose and comes with its own set of rules. The right choice depends on your income, assets, and long-term goals.
An approachable, community-based Prince George’s County, MD bankruptcy lawyer can help you understand your options and guide you toward financial relief with compassion and clarity.
What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?
Chapter 7 is often called "liquidation" bankruptcy. It allows you to wipe out many types of unsecured debt, such as credit cards, personal loans, and medical bills, without a repayment plan. However, you must pass a means test to qualify, and some of your property could be sold to repay creditors.
How Do I Know It’s Time to File for Bankruptcy?
If you are drowning in debt, it can be very hard to know what to do next. You might be behind on bills, dodging calls from creditors, or worrying about losing your car or your home. Whatever the situation may be, take heart. For many people in Maryland, bankruptcy can offer a legal path toward relief, stability, and a second chance.
At Bloc One Services, LLC, our Bowie, MD consumer bankruptcy lawyer works with everyday people who are trying to get back on track. We are proud to serve the local community by offering clear, honest legal help at a fair price. Our goal is simple: To help you rebuild your future with hope.
Signs It Might Be Time to File for Bankruptcy
There is no perfect moment to file for bankruptcy, but there are warning signs that mean you should probably talk to a lawyer. You do not have to wait until things are completely out of control. If you are dealing with any of the following, it may be time to take a serious look at your options:
Bowie 16701 Melford Blvd., Suite 400 #3
Bowie, Maryland 20715
Washington, D.C. 853 New Jersey Ave SE Suite 200
Washington, D.C. 20003
