What may be a minimal amount of debt to some, could be astronomical to others. As debt piles up, there may be a point where bills and required monthly payments are no longer manageable. If that’s the case, filing for bankruptcy could become a solution. In the event, however, you do not have tens or hundreds of thousands of dollars in debt, you may be wondering what the minimum amount of debt required is to file for bankruptcy. Let’s take a look at debt amounts and some common indicators that bankruptcy might be the right option for a healthier financial future.

Unexpected events like job loss and medical issues can result in financial hardship. If someone reaches a point where they are overwhelmed financially and they’ve exhausted all other options, bankruptcy is an option. Declaring bankruptcy is a big decision and it has a significant impact on a person’s credit. Once the bankruptcy filing is listed on a credit report, it has the potential to affect the score for years. Let’s take a look at why bankruptcy negatively affects a credit report and how long the declaration remains on the report.

If you’re currently dealing with unmanageable debt and are looking into filing for bankruptcy, it’s important to understand your rights as the debtor. It’s equally important, however, to understand the rights of the creditors to whom you owe money. When you work with Belsky, Weinberg & Horowitz, LLC, we’ll explain those rights to you.

When dealing with significant, uncontrollable debt, many people turn to filing for bankruptcy as a solution. Often times, bankruptcy is a way to stop a foreclosure on a house, a repossession on a car, or wage garnishment. If you’re in a troubling financial situation and are looking into your options, you’ll want to know what the advantages are of filing for bankruptcy in Maryland.

While bankruptcy filings have been decreasing since 2010, there are still many people who are struggling financially. Common money problems revolve around unexpected and extensive medical bills, insurmountable credit card debt with high-interest rates, and unaffordable mortgage payments.

If you find yourself in a situation where you’re struggling with bills and have reached your limit, you may want to consider bankruptcy and what filing could mean for your future. Depending on your situation, bankruptcy could offer you a chance at a clean slate and the opportunity to build a healthy financial situation for you and your family. Filing, however, is complicated. Fortunately, our bankruptcy lawyers in Baltimore are here for you. Let’s take a look at the importance of working with a lawyer when filing for bankruptcy in Maryland.

If you’re having trouble paying your bills to the point you’re completely overwhelmed with debt, you may be a candidate for bankruptcy. Prior to making any financial decisions regarding debt management, it’s important to understand your rights and options, as well as the potential consequences for what actions you decide to take. At Belsky, Weinberg & Horowitz, LLC, we can teach you how to file for bankruptcy in Maryland and help you decide if that’s the best way to manage your debt.