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Federal & State Bankruptcy Laws
Bankruptcy law provides for the development of a plan that allows a debtor, who
is unable to pay his creditors, to resolve his debts through the division of his
assets among his creditors. The following is list of laws related to Bankruptcy:
Chapter thirteen is common for individuals with regular income
Chapter 13 is designed for individuals with regular income who are temporarily unable to pay their debts but would like to pay them in installments over a period of time. You are only eligible for chapter 13 if your debts do not exceed certain dollar amounts set forth in the Bankruptcy Code.
Newsroom
News about Bankruptcy in Baltimore and nationwide:
Definition:
Liquidation proceedings; generally assets are sold by a trustee and the company ceases operation. (Individuals may file Chapter 7 also.)
Asset
Definition:
An economic resource or item owned by a business that is expected to benefit its future operations.
Petition
Definition:
The document that commences a bankruptcy proceeding. plan of reorganization - the document setting forth how a bankrupt company plans to satisfy its creditors.
If you live in the following cities and need a Bankruptcy attorney you should contact
our Bankruptcy Attorney as soon as possible:
Annapolis
Baltimore
Capitol Heights
Catonsville
Columbia
Cumberland
District Heights
Dundalk
Elkton
Ellicott City
Essex
Fort Washington
Gaithersburg
Germantown
Glen Burnie
Gwynn Oak
Hagerstown
Hyattsville
Lanham
Lutherville Timonium
Middle River
Nottingham
Owings Mills
Parkville
Pasadena
Potomac
Rockville
Silver Spring
Sykesville
Temple Hills
Upper Marlboro
Westminster
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