Library: Bankruptcy

How Does a Maryland Bankruptcy Dismissal Differ from a Discharge?

What Is the Difference between a Maryland Bankruptcy Dismissal and a Discharge? When you have filed for bankruptcy, discharge is the desired outcome of that filing and discharge occurs when the debtor does everything they’re supposed to do.  The court enters a discharge once you, as the debtor: have confirmed a bankruptcy plan, made all […]

Should I Invade My IRA or 401K to Pay My Current Bills?

Extreme Caution: Invading Your IRA or 401(k) to Relieve Money Problems Might Ruin You When faced with paying your personal Maryland, Delaware, Pennsylvania or Virginia bills, considering whether to invade your IRA or 401(k) may seem to be a worthwhile possibility. Before you decide to draw down your IRA or your 401(k), you should know […]

My Assets Exceed My Allowed Exemptions; What Should I Do?

Over Exemptions? Pay Cash to the Trustee and Sleep Better The gold standard for Chapter 7 bankruptcies is the “no asset” case, when a debtor’s equity in his assets is less than allowed exemptions. Because so many people are way over leveraged, that happens 95% of the time. The “no asset” case is desirable for […]

The Mortgage and the Business Bankruptcy

When a business fails the owners frequently find themselves facing their own personal bankruptcy. Owners considering bankruptcy want to discharge business obligations they’ve guarantied but still retain their home. This home is almost always subject to a significant mortgage. Because the mortgage is considered consumer debt, the mortgage may become an obstacle to the former […]

The Sad Bankruptcy of Edison Protégé Samuel Insull

Donald Trump Predux: The Sad Bankruptcy of Edison Protégé Samuel Insull Long before Donald Trump made national headlines for bankrupting his failing Atlantic City casinos, a great but lesser known industrialist named Samuel Insull found himself facing bankruptcy and charges of fraud and embezzlement. Insull had been an important figure in the growth of the […]

Where Should I File My Bankruptcy Case?

Where you file bankruptcy is not supposed to make a difference, but it does. A client’s distance from the courthouse, comfort with an attorney, applicable law, practice and custom all differ from one district to the next. The rules concerning the venue of a bankruptcy case offer debtors a variety of choices in where to […]

Special Report: Foreclosed Rehousing the American Dream at the Museum of Modern Art

The mortgage and foreclosure crisis that continues to sweep our country has been national news for almost five years. Media accounts tell different sides of the suffering and the attempts to alleviate the suffering. Neighborhoods, towns and even cities are threatened with long-lasting blight and devastation as homes become vacant and vandalized. Legislators draft emergency […]

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