Chapter 7 Bankruptcy Lawyer

Many debtors face overwhelming debt that they cannot pay off, even with debt reorganization and an extended repayment plan. The solution for individuals who cannot pay their debt is Chapter 7 bankruptcy. In Chapter 7, known as liquidation, the debtor’s nonexempt property is sold and the proceeds are distributed to creditors. Debtors are discharged from paying most remaining debts. Contact Robert Siegel at Zide Law Group for your free initial consultation!

Glen Burnie Chapter 7 Bankruptcy Lawyer

During tough economic times, people turn to bankruptcy to handle their financial problems. Chapter 7 bankruptcy is the most common bankruptcy type filed. And when it is the right financial remedy, you can put an end to creditors’ calls and get a fresh start. The pages of ” Chapter 7 Consumer Bankruptcy Strategies” (2010 ed.) published by Aspatore also features my expertise and provides an insider’s prospective on best practices for Chapter 7 filings. Find out how a Glen Burnie Chapter 7 bankruptcy lawyer at Zide Law Group, can help.

Bankruptcy Law In Maryland

The federal Bankruptcy Code's guidelines are generally followed when filing for bankruptcy. The lone exception is figuring out whose assets are exempt from bankruptcy. The list of assets you can exempt from bankruptcy is provided by Maryland.

Selling nonexempt assets under Chapter 7 is necessary to pay creditors. After taking into account exemptions, there are typically few or no assets left in Chapter 7 cases. We can go over your assets if you bring a list to our initial meeting.

Qualifying For Chapter 7

To qualify for filing Chapter 7, you must pass an income test, called a means test. Your income is compared with other Maryland residents, and if it is the same or less than the median Maryland income, you qualify for Chapter 7. Even if your income is greater, you still may qualify. Maryland Chapter 7 bankruptcy attorneys can do the calculations for you to see if you pass the means test.

Types Of Debt

We also examine your debt and determine whether filing for Chapter 7 will eliminate it. Secured and unsecured debt are the two primary categories of debt. Collateral, such as a car or house, is used to secure secured loan. If you don't make loan payments on a secured obligation, the creditor is allowed to seize your car or your home if you don't make mortgage payments. Nothing secures other debt; it is unsecured. If you don't pay this kind of loan, you don't lose any possessions. Unsecured debt examples include unpaid medical bills, credit card balances, and utility payments.

We also take into consideration whether you have debts that bankruptcy cannot clear, such as student loans, alimony, child support payments and recent overdue taxes, and try to form a strategy to deal with these debts as well.

Find out if Chapter 7 is right for you.


For a free initial consultation with a Glen Burnie bankruptcy attorney about your bankruptcy, contact Robert A. Siegel with Zide Law Group.

Robert A. Siegel with Zide Law Group, 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.