Filing For Bankruptcy

Families and individuals face debt for a variety of reasons, often through no fault of their own. Job loss, divorce, and medical bills are common sources of financial difficulty, and can quickly get out of control. In many cases, filing for bankruptcy may be the best way to regain control while getting relief from the harassment of creditors. Chapter 7 and Chapter 13 Bankruptcy are both available for individuals and married persons, and Pickett & Oliverio can assess your personal situation and help determine your best approach.

Chapter 7 Bankruptcy

Chapter 7 Bankruptcy is often more utilized because it allows for more debt to be eliminated at one time. However, certain debts such as child support, alimony payments, and some tax debts are not dischargeable in Chapter 7, and there are specific eligibility requirements to file for Chapter 7 Bankruptcy.

Filing for Chapter 7 Bankruptcy does not necessarily mean that you will lose everything you own. Your home and vehicle may be protected, as can other essential items such as clothing, jewelry, bank accounts, and house furnishings. An attorney at Pickett & Oliverio can assess your individual situation, and advise you if a Chapter 7 Bankruptcy is right for you.

You deserve a chance to live free from crushing debt. Our attorneys can help evaluate your options and choose a path forward to a more hopeful future.

Chapter 13 Bankruptcy

If your income is too high or you do not meet the requirements for a Chapter 7 Bankruptcy, Chapter 13 Bankruptcy may be a good alternative. Rather than requiring you to liquidate assets, a Chapter 13 filing helps reorganize your debt and pay back what you can over a three- to five-year period. After your repayment period is over, remaining debt may be discharged.

When you come in for your free initial consultation, we can discuss whether you qualify for Chapter 7 or Chapter 13 Bankruptcy. Set up an appointment with a lawyer at our Bowie or Prince Frederick office today by calling 301-850-1436 or by contacting us online.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.