Teresa Cho Edwards Attorney at Law » Teresa Cho Edwards Attorney at Law

Do I Need to File for Bankruptcy?

marylandbankruptcy — Sat, 18 Feb 2012 21:08:45 +0000

There is no formula for figuring out when you should file a bankruptcy case. However, below are some indicators you may need to file for bankruptcy: You have lawsuits filed (or being threatened) against you Your mortgage lender has threatened or started foreclosure proceedings against your home You have had assets repossessed (vehicle, boat, etc.) …

How long is Bankruptcy on my Credit Report?

marylandbankruptcy — Sun, 05 Feb 2012 08:50:54 +0000

Your credit report will reflect your bankruptcy filing for up to 10 years, but many credit reporting agencies will remove it after 7 years. But, for many consumers, a 90-day late payment and a bankruptcy have approximately the same effect on their credit score. The bankruptcy stays on your credit report for up to 10 …

What do I bring to my 341 hearing?

marylandbankruptcy — Sun, 05 Feb 2012 07:18:14 +0000

You must attend the 341 hearing, and you must bring the following things, or else you hearing will be rescheduled when you get there: 1. Picture ID, such as a driver’s license or passport. 2. Your original social security card. If you do not have your social security card, you may bring a W-2 (not a …

Where is my 341 Hearing?

marylandbankruptcy — Sun, 05 Feb 2012 07:15:12 +0000

Depending on which county in Maryland you live in, you will be assigned to the Greenbelt or Baltimore Division. Counties that are in the Greenbelt division include: Montgomery County, Prince George’s County, Charles County and Calvert County. The location of the Greenbelt Division hearings is: 6305 Ivy Lane Sixth Floor Greenbelt Maryland 20770

Sample 341 Questions

marylandbankruptcy — Sun, 05 Feb 2012 06:46:25 +0000

Here are some sample questions you typically could be asked: Any major financial transactions in the last year? Buy, sell or transfer anything? Owned or operated a business in the last two years? Did you read the bankruptcy information sheet? Did you review and sign your petition and schedules before they were filed? Is all …

Chapter 13 Plan Payment

marylandbankruptcy — Fri, 13 Jan 2012 19:41:34 +0000

Based on Four Factors: a. Chapter 7 liquidation analysis b. Means Test Calculation. c. Disposable Income Test d. Required Payments to Priority and Secured Creditors. Your Chapter 13 Plan will usually have to provide for the payment in full of priority debt (such as your bankruptcy attorney’s fees, domestic support arrearages, and taxes) as well …

Alternatives to Bankruptcy

marylandbankruptcy — Wed, 11 Jan 2012 17:17:57 +0000

Credit Card and Personal Loan Debt If you owe a mound of credit card debt, there are ways of reducing the amount you may owe. You may consider debt settlement where you pay only a percentage of the amount you owe. For example, should you owe $10,000 to a credit card company, the creditor may …

Maryland and DC Bankruptcy Attorney

marylandbankruptcy — Sat, 19 Nov 2011 02:58:46 +0000

9500 Arena Drive #460-A Largo, MD 20774. We help Maryland and DC residents get a fresh start through the bankruptcy process. We handle Chapter 7, 11, & 13 bankruptcy cases and help our clients eliminate and reorganize their debts. Reasonable Fees & Evening/Weekend appointments available. Office in Upper Marlboro.

Liens and Bankruptcy

marylandbankruptcy — Mon, 16 May 2011 23:07:06 +0000

The general rule is that “liens” will survive the bankruptcy unaffected unless removed or stripped down in the bankruptcy. “Liens” include the mortgage on your house, the financing on your car, most tax liens secured against property, and “security interest” collateralized finance agreements. Avoiding liens in bankruptcy In bankruptcy, secured creditors (whether consensual, statutory, or judicial) …

What is a Discharge?

marylandbankruptcy — Mon, 16 May 2011 23:06:13 +0000

The whole point of filing bankruptcy is to obtain a “discharge” of your debts. A discharge makes your debts no longer collectible so in effect the debts no longer exist to you because you are not liable personally on them any more. Once the court enters a Discharge Order in your case, creditors can no …