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