Chapter 7 Bankruptcy

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Having a skilled lawyer advising you can be helpful when filing for bankruptcy in Maryland. Attorney's Schwartz & Arminavage are skilled Chapter 7 &Chapter 13 lawyers who can closely review your case to determine if you are eligible and represent you in court to ensure that you get the best repayment plan possible. You can trust in the counsel offered by The Law Office of Schwartz & Arminavage.

 In a Chapter 7 (or liquidation) bankruptcy, any property that you own in excess of the exemptions allowed by law can be sold by the trustee to pay your creditors. Many or most Chapter 7 filers can keep their property and home because they do not own any property than the allowed exemptions, however, it is important to consult with a skilled lawyer to ensure that certain property will not be liquidated. Before you can file for Chapter 7 bankruptcy, the court asks for the following information:

• Creditors – You must name your creditors and show how much money you owe them and what types of loans you need to pay off.
• Income and expenses – You are also required to submit a report of your income and expenses. The trustee assigned to your case needs to know how much money you make and where the money comes from. Attorney Schwartz in College Park can help you create this report.
• Personal property – To pay down your debt, the trustee may need to sell off some of your personal property. Attorney's Schwartz & Arminavage can help you prepare a list to protect your exempt property.