Many financially responsible people used credit to cover their bills throughout the recent economic crisis, frequently to the point that they are now having trouble making their payments. When a loan is secured by a purchased item, also referred to as collateral, creditors may take that item back. Repossession cannot be stopped once it has started, but with Robert A. Siegel's help at ZSTS in Glen Burnie, you can frequently stop it from happening.
The purpose of filing bankruptcy is to help relieve your debt so you can make a fresh financial start. One of the benefits of bankruptcy includes the opportunity to get that fresh start without losing everything you own.
Our firm is a debt relief agency as described in the federal Bankruptcy Code. We can help you avoid repossession of your valued property. However, for the best possible results, you need to contact my firm before the creditors start knocking at your door.
A loan's terms can sometimes be adjusted slightly to improve your ability to repay it in full. Sadly, a lot of lenders won't cooperate with you to renegotiate new terms. You probably qualify for Chapter 13 bankruptcy if your income is reliable. The moment you file, the courts halt all debt collection efforts temporarily and grant you permission to alter the conditions of your loans, usually by extending the payback period up to five years.
The process begins when I assess your property to determine which items Maryland law automatically allows you to keep, known as exemptions. You can typically keep items such as the following:
I work with you to identify all exempt property and then help negotiate repayment terms for the nonexempt property so you can keep some or all of the items that fall into this category.
Even if you decide to file for Chapter 7 bankruptcy in order to liquidate your assets, the Maryland exemption list still holds true. Even while selling assets may not offer the same protections against repossession as Chapter 13 does, you still have the chance to keep a lot of your assets.
We will address all of your bankruptcy-related issues during your free initial consultation and assist you in selecting the bankruptcy type that makes the most sense in light of your particular situation. As part of my comprehensive bankruptcy services, we ensure that all exemption requests are submitted accurately and within the legal deadlines.
Robert A. Siegel with ZSTS, is a debt relief agency as described in the federal Bankruptcy Code. This law firm helps people file for bankruptcy relief under the Bankruptcy Code.