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The consultation usually takes 20-30 minutes. During or after your case evaluation you are welcome to ask the attorney any questions or discuss any concerns related to your situation.
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(410) 302-9610
CHAPTER 7 BANKRUPTCY: YOUR ROAD TO A FRESH FINANCIAL START
Chapter 7 bankruptcy is often referred to as a "fresh start" bankruptcy because it allows individuals and families to wipe out unsecured debts, providing a clean slate for financial recovery. At Broumas Law Group in Maryland, we specialize in guiding our clients through this process, ensuring that with proper planning, you can retain your home, vehicle, and other essential belongings while shedding the burden of overwhelming debt.
CHAPTER 7 BANKRUPTCY: YOUR ROAD TO A FRESH FINANCIAL START
Chapter 7 bankruptcy is often referred to as a "fresh start" bankruptcy because it allows individuals and families to wipe out unsecured debts, providing a clean slate for financial recovery. At Broumas Law Group in Maryland, we specialize in guiding our clients through this process, ensuring that with proper planning, you can retain your home, vehicle, and other essential belongings while shedding the burden of overwhelming debt.
Immediate Benefits of Filing Chapter 7 Bankruptcy:
Halt to Collection Actions: Upon filing, an automatic stay is put in place, immediately stopping:
- Harassing Calls and Communications
- Lawsuits from Creditors
- Tax Collections (in many instances)
- Utility Disconnections
- Vehicle Repossessions
- Foreclosure Proceedings
- Bank Account Levies
- Wage Garnishment
Credit Score Improvement:
Contrary to common misconceptions, filing for Chapter 7 can lead to a quicker credit score recovery. By eliminating the negative reporting of delinquent accounts, your credit can begin to heal, often improving within a few months post-discharge.
Debt Discharge:
You'll no longer be personally responsible for most unsecured debts, including credit card balances, medical bills, and personal loans. This discharge offers a new beginning, free from the weight of past financial obligations.
Immediate Benefits of Filing Chapter 7 Bankruptcy:
Halt to Collection Actions: Upon filing, an automatic stay is put in place, immediately stopping:
- Harassing Calls and Communications
- Lawsuits from Creditors
- Tax Collections (in many instances)
- Utility Disconnections
- Vehicle Repossessions
- Foreclosure Proceedings
- Bank Account Levies
- Wage Garnishment
Credit Score Improvement:
Contrary to common misconceptions, filing for Chapter 7 can lead to a quicker credit score recovery. By eliminating the negative reporting of delinquent accounts, your credit can begin to heal, often improving within a few months post-discharge.
Debt Discharge:
You'll no longer be personally responsible for most unsecured debts, including credit card balances, medical bills, and personal loans. This discharge offers a new beginning, free from the weight of past financial obligations.
HELPING OUR CLIENTS WITH:
STOPPING HARRASING CREDITORS CALLS
PREVENTING UTILITY DISCONNECT
STOPPING WAGE GARNISHMENT
STOPPING HARRASING CREDITORS CALLS
PREVENTING UTILITY DISCONNECT
STOPPING WAGE GARNISHMENT
The Chapter 7 Process:
- Consultation: We'll start with a comprehensive discussion about your financial situation.
- Filing: Once we determine Chapter 7 is the right path, we'll prepare and file your petition, triggering the automatic stay.
- Meetings and Hearings: Attend the 341 meeting of creditors with our support. In most cases, this is the only court appearance you'll need to make.
- Discharge: After the process, typically within 3-6 months, you'll receive your discharge, freeing you from most unsecured debts.
Protecting Your Assets:
A major concern for those considering Chapter 7 is asset loss. Here's how we help mitigate this:
- Exemptions: Maryland law provides exemptions that can protect your home, car, household goods, and more. Our experienced bankruptcy attorney and the team at Broumas Law Group will help you understand and utilize these exemptions to safeguard your assets.
- Reaffirmation Agreements: If you wish to keep your car or other secured assets we can navigate the reaffirmation process, ensuring you can continue making payments without the threat of repossession.
- Personalized Strategy: Every case is unique. We'll tailor a strategy for your situation, focusing on retaining what's important to you while eliminating what's not.
The Chapter 7 Process:
- Consultation: We'll start with a comprehensive discussion about your financial situation.
- Filing: Once we determine Chapter 7 is the right path, we'll prepare and file your petition, triggering the automatic stay.
- Meetings and Hearings: Attend the 341 meeting of creditors with our support. In most cases, this is the only court appearance you'll need to make.
- Discharge: After the process, typically within 3-6 months, you'll receive your discharge, freeing you from most unsecured debts.
Protecting Your Assets:
A major concern for those considering Chapter 7 is asset loss. Here's how we help mitigate this:
- Exemptions: Maryland law provides exemptions that can protect your home, car, household goods, and more. Our experienced bankruptcy attorney and the team at Broumas Law Group will help you understand and utilize these exemptions to safeguard your assets.
- Reaffirmation Agreements: If you wish to keep your car or other secured assets we can navigate the reaffirmation process, ensuring you can continue making payments without the threat of repossession.
- Personalized Strategy: Every case is unique. We'll tailor a strategy for your situation, focusing on retaining what's important to you while eliminating what's not.
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