How to File for Bankruptcy in Maryland

Many individuals in Maryland become stressed out when filing for bankruptcy. When experiencing a financial setback, the last thing individuals want to do is navigate the bankruptcy process. But the United States Bankruptcy Court District of Maryland offers resources to make the process much easier. Once you determine which form of bankruptcy is right for your situation, you can file the paperwork to initiate the process.

Instructions

1. Consider filling for Chapter 7 bankruptcy. Chapter 7 bankruptcy eliminates the majority of your debt. Maryland has income restrictions for filing this type of bankruptcy. A single person must earn $52,597 or less, $68,075 for a family of two, $80,344 for a family of three and $96,695 for a family of four. And for each additional family member past four, the State of Maryland allows an additional $6,900. You can expect to pay $299 in filing fees.

2. Consider filing for Chapter 13 bankruptcy. With Chapter 13 bankruptcy, you create a plan to repay your debts over an agreed number of years. To file this type of bankruptcy, the State of Maryland requires that you have a dependable income with money left over after the bills are paid. You must also have less then $1,010,650 in secured debt and $336,900 in unsecured debt. You can expect to pay $274 in filing fees.

3. Consider securing an attorney. If the bankruptcy process is feeling overwhelming, consider securing an attorney. They can help you choose the right form of bankruptcy for your situation and file the necessary paperwork.

4. File the necessary paperwork. If you decide to proceed without an attorney, you can initiate the bankruptcy process for both Chapter 7 and 13 bankruptcy by contacting the United States Bankruptcy Court District of Maryland at [phone] and request a bankruptcy form packet.

5. Be prepared to attend a hearing. When declaring bankruptcy in Maryland, you will be required to attend a court hearing. The trustee and creditors may ask you questions about your debts.

Tips & Warnings

• Consider getting support. Filing for bankruptcy can be a stressful event. Participating in forums, such as the one offered by Community Lawyers, can provide support and assist in answering questions.

• Understand that bankruptcy doesn't get rid of all debt. Even if you declare bankruptcy, you will still be required to pay bills such as child support, alimony, back taxes, student loans and any debts that are fraudulent.

Resources

• United States Bankruptcy Court District of Maryland
• Find Maryland bankruptcy attorneys
• Bankruptcy support forums