Bankruptcy Solutions Southern Maryland

The Law Office of Daniel J. Guenther utilizes alternative resources to present viable bankruptcy solutions to clients in Southern Maryland and throughout the entire State of Maryland.  It is not uncommon for people to mistakenly take on too many financial obligations and mismanage debts.

 Drowning in debt is a euphemism for exceeding one’s fiscal capabilities, but you shouldn’t feel ashamed of uncontrolled debt. Chapter 7 bankruptcy is one of the most effective Maryland bankruptcy solutions for residents with limited resources.

Chapter 7 bankruptcy discharges an individual’s unsecured debts while keeping all exempt assets. The Law Office of Daniel J. Guenther recommends Chapter 7 to households or businesses looking to quickly resolve overwhelming debt with minimal long-term obligations, which is sound advice any Southern Maryland bankruptcy lawyer would confirm.

Filing for Bankruptcy has numerous advantages to be considered when deciding whether it is a viable debt relief solution.  Attorney Daniel J. Guenther and his Southern Maryland offices have helped countless Marylanders during his thirty-four years of legal service. Debt solutions vary for each individual, but bankruptcy is an attractive and straightforward option to eliminate debts.

Outshining Other Bankruptcy Lawyers in Southern Maryland

Thanks to our in-depth comprehension of how the bankruptcy process works, the Law Office of Daniel J. Guenther outshines and outperforms similar bankruptcy firms. Law suits and wage garnishments could result in losing your home, business, or other valuable assets.  Chapter 7 bankruptcy immediately halts evictions, property foreclosures, and harassment from creditors.

People considering filing for bankruptcy also likely face impending lawsuits, as bankruptcy and lawsuits seemingly come together. Chapter 7 forces lawsuit proceedings to pause until the Bankruptcy is concluded, often within three months, after which most lawsuits simply go away and the debt is discharged.  

Alternative Bankruptcy Solutions Besides Chapter 7

The Law Office of Daniel J. Guenther is well-seasoned in settling Chapter 7 bankruptcy cases. However, our firm also handles alternative bankruptcy solutions for Maryland’s residents. It is often advisable to evaluate the advantages of a Chapter 13, as it shares similarities with Chapter 7 bankruptcy.  However, there a few significant differences which stand out and are important to understand.

Chapter 13 is exclusively for individuals, meaning businesses don’t qualify. While Chapter 7 bankruptcy discharges certain financial obligations, Chapter 13 consolidates and reorganizes an individual’s debt to renegotiate more convenient terms and often a lower amount. 

Chapter 13 Bankruptcy is most often utilized to stop a foreclosure, if you have more assets than can be exempt in a Chapter 7, or if your family income exceeds the median income for Maryland.  Otherwise, you will generally opt for a Chapter 7 if you qualify.  We can consult with you, obtain all information, and make a determination of your eligibility for a Chapter 7 or 13.  

Chapter 13 bankruptcy has strict criteria requirements for applicants, but its greatest advantage is to allow an opportunity to catch up on car notes or mortgage payments. Individuals’ debts are restructured to prioritize expenses and reduce the potential of future mismanagement.

Chapter 13 bankruptcy permits applicants to maintain ownership of assets, stop debt harassment, and repair damaged credit scores as well.  

Chapter 11 Bankruptcy Solutions in Maryland

Chapter 11 bankruptcy typically benefits large corporations or extremely high income-earners, planning to repay outstanding debts over time. Small businesses and individual applicants rarely meet the strict criteria applied to file for Chapter 11 bankruptcy.

The Law Office of Daniel J. Guenther welcomes interested parties to call 301-475-3106 for a free bankruptcy debt relief consultation.  They have proudly been designated by Congress as a Debt-Relief agency helping people obtain a Fresh Start become debt-free through Bankruptcy.   Attorney Daniel J. Guenther will review your information and give advice based on his knowledge and experience.