Personal debt levels can reach a point where it feels like there is no way out of them. All of your money is spent trying to get the bills paid down, and you don’t have much left over afterwards. One option for clearing your debts, as drastic as it may sound, is filing for bankruptcy. When you reach a point where you can’t make your payments every month, or are engaging in “robbing Peter to pay Paul”, you are one step away from bankruptcy as it is. It’s a matter of making the commitment to file, and a Bankruptcy Attorney in MD can help you.
When you file for bankruptcy, you are required to lay out your entire financial situation for the court to see. This includes listing your income, assets, real property and any other sources of income that you may have. All of your debts are also listed, and how much you owe your creditors. All of this is necessary because you have to prove that you are truly in need of help from the court. There is no keeping back anything, or hiding it. Any attempt at hiding assets can result in criminal prosecution. This is why having a Bankruptcy Attorney in MD is so important. The lawyer makes sure that you leave nothing out when you file your petition.
A bankruptcy centers around the petition which is a large document where you list all of your information. It’s complicated, and can be downright scary if you don’t know what you need to do with it. When you retain a lawyer from a firm such as Laura Margulies and Associates, LLC, you don’t have to worry about the petition as much. The law office takes care of you by completing the petition for you, giving it to you for approval, then submitting it to the court to begin the process.
Legal help with a bankruptcy helps you avoid common pitfalls that could get you in trouble with the court. It also gives you access to someone who understands the process and can provide you with support from start to finish. In turn, all of your debts are cleared for good, allowing you to regain control of your life.
