The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.
Law Offices of
Frank E. Turney, P.A.
410-788-8830
920 Frederick Road Catonsville, MD 21228
Turneylaw@verizon.net
Free Consultation
The thought of filing bankruptcy can be frightening and overwhelming. If you are on the verge of bankruptcy, you don’t need to be afraid. But you do need to take action. The first thing you should do is contact an attorney who fully understands the new bankruptcy law and has the experience required to help you. Call today or use the Contact Us link to tell us about your situation.
Bankruptcy Attorney in Baltimore
Chapter 7 and Chapter 13 Bankruptcy Info
We represent clients in Baltimore and throughout Maryland.
Call today: 410-788-8830
Free Consultation
At the Law Offices of Frank E. Turney, P.A. in Baltimore, we assist clients with Chapter 7 and Chapter 13 bankruptcy. There are many pitfalls in the new bankruptcy system following changes in the law that went into effect in 2005.
Changes in the New Bankruptcy Law
In 2005, Congress totally revamped the country’s bankruptcy system. There are many pitfalls in the new system that can lead to real problems. The best way to avoid them is to choose an experienced bankruptcy attorney who can help you understand your options, and your obligations, under the law.
• All debtors are now required to get credit counseling before they can file for bankruptcy.
• Some debtors with higher incomes are no longer allowed to file for Chapter 7 bankruptcy.
• A person’s eligibility for Chapter 7 is based , in part, on his or her median income as set by the IRS. If you are under the median level, there is an assumption that you are not abusing the system. Above the level triggers a complex formula to determine your options.
• A person filing for Chapter 7 or Chapter 13 bankruptcy protection must show proof of income by providing federal income tax returns for the previous years, as well as pay stubs and other income sources.
• The new law makes additional demands of lawyers. Fro example, lawyers must personally vouch for the accuracy of all the information their clients give them.