Each person’s financial situation is different from another’s. And while you may feel like your finances haven’t been so great, at what point should filing for bankruptcy be seriously considered? If you have wondered about whether bankruptcy is the next step to take, just know you are not alone. There are so many individuals and families that are struggling financially right now. But knowledge is powerful, and the more you know, the more options become available to you that you hadn’t thought was possible before. 

Is it my budgeting that caused my finances to suffer?

If you have expenses that consistently exceed what you earn, then eventually you may find yourself without any funds at all and are not sure what to do next. Some people can benefit from budget counseling and reassessing their spending. But for those who’s expenses and debts are vastly more than their earnings, and a pay raise or job change isn’t in the near future, then more may need to be done than just a change in budgeting. 

What can I do about my medical debts?

Do you have medical bills that you cannot afford to pay? Do you not earn enough each month to afford medical benefits in the first place? Healthcare costs can be steep, as a bankruptcy attorney from The Law Offices of Ronald I. Chorches know, so it can be easy to fall behind on paying them. Bankruptcy can help you get your healthcare costs or debts more under control. Most medical bills are dischargeable, which means you will be better able to afford medical care costs from there on out. 

I was a victim to a scam, how can I get out?

A person with plenty of debt is someone that is also vulnerable to being taken advantage of. Sadly, because someone may be desperate for money, they may fall prey to scammers who want to further ruin their financial stability. If you were called by someone who ended up being a scammer, bankruptcy may be able to help you. Remember, bankruptcy in itself is not a scam. In fact, it is a useful resource for people to depend on when they are in such financial hardship that it seems impossible to recover.  

What other ways is bankruptcy beneficial?

Mental health is a topic that should always be treated seriously. When finances are not where people want them to be, it can make them feel down on themselves and unable to live the life that they imagined for themselves. As the team from The Law Offices of Ronald I. Chorches understands, bankruptcy not only alleviates debt issues, but can help someone feel better about who they are and their options for the future. If finances have caused you to lose sleep at night, affected your personal relationships, or otherwise caused mental stress, then it may be time to consider bankruptcy. 

When tough financial times hit, it can feel like there is nothing that can help us. But don’t forget that bankruptcy is a resource that is available to those who truly need a financial restart for their future. 

Chapter 7 Bankruptcy Lawyer  

Stopping Eviction by Filing for Chapter 7 Bankruptcy

When you stay in possession of an apartment or leased property after the expiration or termination of the lease, and you refuse to leave, your conduct, in the eyes of the law, is defined as an unlawful detainer. These actions are common when the landlord of the property is attempting to evict tenants that do not pay rent or expose the property or other tenants to danger. Landlords are required to use this process because under state law, they are not permitted to engage in any self-help remedies to remove a tenant who refuses to leave.

In the legal system, these types of cases are called unlawful detainer actions. If the landlord wins an unlawful detainer case, the court will issue a writ of possession. The sheriff of the county will serve the tenant that is refusing to leave. The writ of possession notifies the tenant that they must leave the apartment by a certain time period or the sheriff will forcibly remove the tenant. However, a Chapter 7 bankruptcy lawyer may be able to help.

Filing for Bankruptcy

The moment you file for bankruptcy, an automatic stay is entered in your case for 30 days and it immediately prevents lawsuits and collection actions against your property, specifically including foreclosure and eviction proceedings. This is where bankruptcy may come in handy to fight eviction proceedings.

The timing of the bankruptcy proceedings is crucial to fighting the unlawful detainer action and writ of possession:

• If you file for bankruptcy prior to the landlord serving you with notice of the unlawful detainer action, the landlord must persuade the bankruptcy court to lift the automatic stay before he can evict you.
• If you filed for bankruptcy after the unlawful detainer action is filed, but before a writ of possession is issued, the landlord must wait until the stay is lifted or seek relief from the court by lifting the stay.
• If you filed for bankruptcy after the court entered a writ of possession, the automatic stay will not bar the sheriff from enforcing the writ of possession. But the landlord can only seek possession of the property, not money damages. 
• If you have not paid your rent in some time due to financial hardship and are afraid of being evicted from your apartment, you should consider filing for bankruptcy. Once your landlord files an eviction lawsuit, and you file for bankruptcy thereafter, the bankruptcy judge will most likely lift the automatic stay to allow the eviction to move forward, especially if the court already issued a writ of possession. Furthermore, it might be easier for the landlord to lift the automatic stay if the landlord proves that you will endanger the property or use illegally controlled substances on the property.

Contact a Bankruptcy Law Firm Today

If you are late on rent due to the large amount of debt you have, and it is only a matter of time before your landlord will move to evict you, you should contact an experienced attorney.

Bankruptcy Attorney

If you are facing financial difficulties it is essential to know what happens and what doesn’t happen in bankruptcy before deciding to file for a bankruptcy case. There is no doubt that if you’re experiencing severe debt problems filing for bankruptcy can be a very powerful remedy. Many people don’t know what bankruptcy can handle and what it doesn’t. Depending if you file a Chapter 7 or Chapter 13 will depend on what bankruptcy can and cannot do for you.

Continue reading for an informational overview about what bankruptcy cannot do for you if you are considering filing.

Things Bankruptcy Can’t Do

Bankruptcy is a great tool to use in helping solidify that there are some things that bankruptcy cannot cure. Here is what it can’t do for you.

Bankruptcy doesn’t prevent a secured creditor from foreclosing our reprocessing property you can’t afford.

 A bankruptcy discharge does eliminate debts but it doesn’t eliminate liens. A lien allows the lender to take the property, sell it at auction, and applied the proceeds to a loan balance. While bankruptcy can eliminate your obligation to pay the debt, assuming you have secured debt, it will not take the lien off your property. In Chapter 7 you can wipe out a home mortgage but the lender’s lien will remain on the home. As long as the mortgage remains unpaid the lender can’t exercise its lien rights to foreclose on the house once the automatic stay lifts. 

Bankruptcy doesn’t eliminate child support and alimony obligations.

 Child support and alimony obligations survive no matter which chapter of bankruptcy you file. You will have to continue to owe the stats in full just as if you have never filed for bankruptcy. If you use Chapter 13 will have to pay these debts in full through your plan.

Bankruptcy does eliminate student loans except in limited circumstances.

 If you’re hoping that you can get your student loans discharged in bankruptcy then you are going to be in for a surprise. Student loans can only be discharged in bankruptcy if you show that repainting the loan would cause you undue hardship. You must prove that you can’t afford to pay her loans currently and that there is very little likelihood you can do so in the future. For many people, this doesn’t happen and you will need to pay your student loans.

While there aren’t many things bankruptcy can do there are many things that simply can’t. Before you file for bankruptcy is important that you know what to expect. This is why we suggest reaching out to bankruptcy attorney like our friends at The Law Offices of Ronald I. Chorches, for a better understanding of what you can expect if you decide to file for bankruptcy.

How To Make Sure Your Legacy is Passed On

The idea of estate planning can seem overwhelming at first, but it’s important to not put it off. An estate plan is necessary to ensure that property and other assets are distributed to the intended beneficiaries or heirs. To make sure your assets gets transferred to the people you wish to have them, consider these tips:

Make a list of assets.

To start your estate plan, it will be a good idea to have an organized list of your assets, both tangible and intangible. Examples of assets include homes, vehicles, artwork, pensions, life insurance, stocks, household items, jewelry, sentimental items, and more. Most of us have an idea of what assets we have, but by composing them into a list it will be easier to designate which of your beneficiaries will receive them.

Draw up a will.

Unless you want your estate to go through probate, you should write a will. Probate is when the court handles a deceased person’s assets and distributes them based on state intestacy laws. Without a will, an estate may get caught up in probate court, where the court will ultimately decide how much and to whom receives your assets. 

Talking with beneficiaries.

Depending on the size of your estate and types of assets, you may want to discuss your plans with beneficiaries. How much information you share with beneficiaries will be up to you. Some people prefer to share their estate plan with those closest to them, so these loved ones can help ensure the estate is carried out how the decedent would have wanted. 

As an estate planning lawyer from Klenk Law would agree with, anyone with tangible and intangible assets can benefit from having an estate plan. It doesn’t matter how small or large your estate is, since it will essentially be your legacy that is passed onto future generations.

When people start their business, they probably don’t give much thought to legal issues. However, many business owners run into some kind of legal dispute at some point. That is why it is important to have an experienced lawyer on retainer. Here are some common causes of commercial litigation from our friends at Brown Kiely, LLP.

Breach of Contract

As a business owner, you can expect to enter into multiple contracts with business partners, vendors and employees. All parties are expected to follow all the terms of the contract. If one party, however, breaches the contract, a dispute can arise. For example, if a vendor doesn’t believe that you fulfilled your duties in a contract, they may sue your business.

Intellectual Property Disputes

If an organization has accused your company of stealing their logo or other property, an intellectual property dispute may arise. Likewise, if another business has stolen intellectual property from your company, you may bring a lawsuit.

Employment Disputes

When your business hires employees, it is important to educate yourself about the employment laws in your state, such as wage and hour rules, anti-discrimination laws and safety rules. If you don’t, you may find yourself in legal hot water. For example, an employee who is experiencing harassment in the workplace and you don’t do anything to stop it, that employee may file a lawsuit against your business.

Shareholder Disputes

Businesses can also face shareholder disputes. These disputes can arise for many different reasons, including misuse of company funds, management and hiring decisions, breach of fiduciary and conflict of interest. If shareholders don’t agree with the way you’re running the company, they may decide to file a lawsuit.

An effective way to avoid these disputes is to draft agreements to let everyone know what is expected of them.

Negligence Torts

This type of dispute comes about when a company creates a hazardous situation that injures another person. For instance, if a grocery store owner neglects to clean up a liquid spill for hours and a customer slips and falls and gets injured, that customer can file a personal injury lawsuit. The grocery store owner may be liable for the customer’s medical expenses and lost wages.

If your business faces litigation, it is a good idea to consult an experienced lawyer for commercial litigation in Maryland about your situation. A lawyer can assess your case and offer legal advice.

Most of the time, both commercial and residential real estate transactions proceed without any major disputes developing along the way. However, when exceptions to this general rule arise, the financial, practical, and legal consequences of a contentious situation can be truly significant. It is, therefore, very important to be proactive when a real estate dispute begins to brew. By speaking with an experienced real estate attorney in a risk-free consultation setting, you can both build the strongest possible case on your behalf and potentially mitigate the consequences stemming from this situation generally.

It is important to remember that attending a risk-free consultation means that you’re asking a lawyer questions and seeking guidance with no strings attached. Meeting with a lawyer in this way neither obligates you to work with that individual moving forward, nor does it obligate you to pursue legal action if you determine that you are uninterested in doing so. As an experienced real estate litigation lawyer – including those who practice at Eric Siegel Law – can confirm, all too often, those affected by real estate disputes shy away from exploring their legal options until they absolutely have to because they are unsure of what a consultation entails. Just as you would consult with a surgeon about a cosmetic procedure with no strings attached to that informational session, so a risk-free consultation with a real estate attorney is offered with no strings attached as well.

Preparing for a Real Estate Litigation Consultation

Whether you’re thinking about filing a lawsuit or are being named as a defendant in another’s legal action, you’ll want to accomplish a few things in preparation for your legal consultation. If you haven’t already spent some time on the website hosted by the firm that you’re meeting with, do so now. You won’t be able to ask the firm informed questions about their approach to representation until you have a strong sense of how they conduct business.

Next, gather any and all documents that may help the attorney with whom you’re meeting get a better sense of the unique nature of your dispute. It is difficult to provide personalized legal guidance if the attorney assessing the situation doesn’t have access to all of the facts and the details/context linked to those facts.

Finally, take time to physically write down or type out any and all questions you may have about your legal situation. Don’t rely on your memory to champion your concerns in the moment. Everyone forgets things when they are stressed and it is important to know that you have all the information you need to make a decision about your situation once you’ve left your consultation.