Frederick, Maryland, Bankruptcy Blog
Find the best strategy to address massive credit card debt
The Federal Reserve reports that credit card debt has topped $1 billion in the United States, and personal finance website WalletHub says 67 million Americans are likely to have difficulty paying their credit card bills as a result of the current pandemic. NerdWallet...
Bankruptcy filings skyrocket for older Americans
Bankruptcy offers the chance for a fresh start for those with overwhelming debt who are unable to pay their bills. Once people file, they are no longer responsible for discharged debts. Extreme medical debt is the main reason most Americans 55 and older consider...
Debt management plans offer solutions for getting out of debt
If you are struggling to keep up with high-interest credit card payments, paying off debt might feel like a pipe dream. The crippling feeling of being stuck in debt can stand in the way of reaching short and long-term goals. The good news is that becoming debt-free is...
When can you start using credit again after filing bankruptcy?
Some people worry that they won't have access to credit after a bankruptcy. Bankruptcy has a direct and provable negative effect on your credit, in part, as a way to deter people from filing unnecessarily. However, it is often less damaging to your credit than...
Will bankruptcy affect my career prospects?
Although there are many undeniable advantages to filing for bankruptcy, there is still a certain stigma attached to it, and this often deters people, preventing them filing. If you are struggling with overwhelming financial challenges but you are worried about how...
How will filing for bankruptcy affect my mental health?
Overwhelming debt and mental health issues are strongly linked. Financial difficulties can contribute to increased stress as well as anxiety disorders and depression. However, causation can also run the other way: Those with mental health issues may be more likely to...
How long will a bankruptcy filing take?
The length of a bankruptcy largely depends on the Chapter of bankruptcy that is filed for, and the complexity of the individual case. If you are considering filing for bankruptcy in Frederick, it is important to recognize that time and effort will need to be invested...
Taking charge of overwhelming medical bills
If you or a loved one is suffering from ill health, it will be a stressful time for all involved. In addition to the medical-related stress, you may be suffering financially due to medical bills. The financial burden that medical care can place on a patient may feel...
Will my life improve after bankruptcy?
If you are struggling with debt, you will know that no matter what luxuries you have in your life, you will be unable to enjoy them to a full extent due to worries about the debt in the back of your mind. Having an expensive car or designer clothes can bring joy, but...
The impact of bankruptcy on your credit rating
Despite the many benefits of filing for bankruptcy, such as the ability to discharge or reorganize debt, there are potential disadvantages to be aware of as you consider your next step. For example, you need to fully understand what will happen to your credit rating...
