Hagerstown, MD Chapter 7 Bankruptcy Attorney
We Provide Chapter 7 Bankruptcy Representation in Hagerstown and Throughout Western Maryland
At Hinkle Law, PLLC, our Hagerstown, MD Chapter 7 bankruptcy lawyer has helped people and families get relief from millions of dollars in debt. With nearly two decades of experience, we are focused on doing what it takes to ensure that people can regain control of their finances and find true peace and stability. If you have any questions about Chapter 7 bankruptcy or your debt relief options more generally, our team is here to help. To arrange a free, fully private initial case evaluation with a Maryland Chapter 7 bankruptcy attorney, please contact us today.
An Overview of Chapter 7 Bankruptcy in Maryland
Most people filing for personal bankruptcy protection will file Chapter 7 bankruptcy or Chapter 13 bankruptcy. A Chapter 7 bankruptcy is sometimes known as a “straight bankruptcy” or a “liquidation bankruptcy.” The basic idea behind Chapter 7 bankruptcy is that you can eliminate overly burdensome debts and get a fresh financial start. While some debts, including child support, are not dischargeable in Chapter 7 bankruptcy, most consumer debts can be eliminated through this type of bankruptcy.
However, not all people can use the Chapter 7 bankruptcy process. To file for Chapter 7 bankruptcy in Hagerstown, an applicant must satisfy the Maryland state “means test.” In effect, you can only file for Chapter 7 if you have a below median income, adjusted for the size of your household. For reference, as of 2021, a Maryland household can file for Chapter 7 if their annual income is below $94,405.00. Do not assume that you are ineligible for Chapter 7 without first speaking to an experienced bankruptcy attorney. Applying the means test for Chapter 7 can be complicated.
What are the Benefits of Filing for Chapter 7 Bankruptcy Protection in Hagerstown?
While Chapter 7 bankruptcy is certainly not the best path forward for every situation, it offers a number of different advantages to people and families in Washington County and throughout Western Maryland who are dealing with serious financial distress. Some of the potential benefits of filing for Chapter 7 bankruptcy protection in Hagerstown include:
- A Fresh Start: Most (or all) of your debts may be dischargeable through a successful Chapter 7 bankruptcy filing in Hagerstown. You can clear credit card debt, medical debt, and other unsecured financial obligations. It is the best option for a fresh financial start for many people.
- You Can Protect Many Assets: Many people are worried that filing for Chapter 7 bankruptcy protection will cost them all of their property and assets—potentially including their home, their vehicle, and what is left in their bank account. Your worries are understandable, but there is good news: Many people in Hagerstown can protect most (or all) of their property in Chapter 7. A lawyer can help you understand your rights.
- The Process is Reasonably Efficient: Filing for Chapter 7 bankruptcy protection does not take as long as many people think. The discharge of your debts could occur in just two or three months. The sooner you get started working on your debt problem, the sooner you can get back to financial stability.
Of course, there are also some downsides to Chapter 7 bankruptcy. For example, a bankruptcy petition causes some initial harm to your credit score. Even with all of the benefits in mind, some people in Western Maryland may simply be better off pursuing non-bankruptcy debt relief alternatives to solve their financial issues. Are you wondering if Chapter 7 is the right option for you and your family? Our experienced Hagerstown bankruptcy lawyer will sit down with you, review your unique financial circumstances, and help you assess your options.
What Information Do I Need to File for Chapter 7 Bankruptcy in Maryland?
Bankruptcy is paperwork-intensive. To file a bankruptcy petition in Hagerstown, MD, you are going to need to produce a wide range of financial documents and records. Some of the key documents you should gather and organize include:
- A minimum of six months of pay stubs;
- A minimum of six months of bank account records;
- Your state and federal tax returns for at least two years;
- Any investment/retirement account holdings;
- Your mortgage and car loan information; and
- All of the records of your debt.
When considering Chapter 7 bankruptcy, it is easy to get overwhelmed by everything that you need to collect. An experienced Hagerstown, MD bankruptcy lawyer who has been through the process before can help you get a handle on the paperwork. Professional support can make the difference.
How Hagerstown Bankruptcy Attorney David Hinkle Can Help
Chapter 7 bankruptcy is complex. As an experienced bankruptcy law attorney and consumer rights advocate, our founder David J. Hinkle has assisted hundreds of people solve their financial problems. You and your family do not have to navigate the debt relief and bankruptcy process alone. Among other things, our Hagerstown, MD Chapter 7 bankruptcy lawyer will:
- Listen to your story and explain your debt relief options;
- Carefully review your finances to help you find the best path forward;
- Handle all of the Chapter 7 bankruptcy paperwork; and
- Take action to help you rebuild your credit.
You deserve personalized guidance and support from your Hagerstown Chapter 7 bankruptcy attorney. We believe in more than simply helping our clients navigate the Chapter 7 bankruptcy process. Our law firm is devoted to ensuring that people and families have the knowledge, tools, and resources that they need to achieve their long term financial goals.
Contact Our Hagerstown Chapter 7 Bankruptcy Attorney Today
At Hinkle Law, PLLC, our Maryland bankruptcy lawyer has the skills and experience to help you fix your debt problems and get back to financial stability. If you have concerns about Chapter 7 bankruptcy, we are available to help. Call us now or connect with us online for a no cost, fully confidential case evaluation. Our bankruptcy and debt relief law firm represents people and families in Hagerstown and all over Washington County, including in Boonsboro, Clear Spring, Funkstown, Hancock, Keedysville, Sharpsburg, Smithsburg, and Williamsport.