Frederick Maryland Bankruptcy Blog

Will I lose my house in Chapter 7 bankruptcy?

Chapter 7 bankruptcy is often referred to with the term "liquidation" because it involves the liquidation of your property to pay off creditors. However, much of your property will be exempt from the liquidation process. In some cases, your house will be included in the property that's exempt.

While you probably will not be able to keep a multimillion-dollar mansion through the Chapter 7 process, if you own a modest home -- under the right circumstances -- you just might be able to keep it.

Which bankruptcy is right for you? Chapter 7 vs. 13

If you live in Frederick and have found yourself overwhelmed with debt, you are not alone. Many people, at one time or another, find themselves with more debt they can handle. Fortunately, there are multiple resources available to help you get your debt under control. Bankruptcy might be the answer you have been searching for. The two types of bankruptcies that are usually available for individuals are Chapter 7 and Chapter 13.

If you are considering bankruptcy, you probably have questions about which type is the right one for you. To find out more about the differences between Chapter 7 and 13, read further.

Ways your medical bills could be wrong

You’ve been working very hard to steer your family towards a stable financial future. But now, a medical crisis has struck and the bills are piling up.

This is a situation many families here in the Frederick area can end up facing. Some of the health problems that could come up for families can lead to some very high medical bills.

What will happen to my credit rating if I go through bankruptcy?

As you ponder the pros and cons of bankruptcy, you may find yourself facing many questions.

One of the most common is in regard to what will happen to your credit rating if you move forward with the bankruptcy process.

Law Offices of John C. Hanrahan, LLC
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Frederick, MD 21701
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From offices in Frederick, Maryland, attorney John C. Hanrahan represents individuals and businesses in Hagerstown, Walkersville, Germantown, Mt. Airy, Damascus, Gaithersburg, Middletown, Urbana, Clarksburg; and throughout Frederick County, Montgomery County, Washington County, Howard County and Carroll County, as well as Washington, D.C.

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