Landover Hills, MD

An Experienced Bankruptcy Law Attorney In Landover Hills, Maryland

With nearly three decades of experience in bankruptcy law, Jill Kindlund, Esq. has dedicated her professional life to helping clients emerge from financial hardship and make new starts. Kindlund Legal LLC makes it a goal to treat every client with respect and kindness, making a very difficult experience a more positive one. With today’s technology, Kindlund Legal LLC is able to work with clients all over the state of Maryland without asking them to come into the office. If you live in Landover Hills, Maryland and have questions about bankruptcy, call (240) 997-5775 for a consultation.

How Does Chapter 7 Bankruptcy Work?

A Chapter 7 bankruptcy is basically a Liquidation Of The Debtor’s Assets. A trustee of the court will review your documents and have a meeting of creditors after you have filed your bankruptcy petition. Creditors are able to attend the meeting to ask questions about your finances. After a few months, you should receive a notice of bankruptcy discharge, if all goes smoothly. Before meeting with a Chapter 7 Bankruptcy Attorney, you should familiarize yourself with the following.

• To qualify for Chapter 7 bankruptcy, you must pass the means test. If you earn below the median income of the state, you should pass this test.
• Debt such as credit card debt, medical bills, personal and payday loans, utility bills, and judgements from credit card and debt collections agencies can be discharged in a Chapter 7 bankruptcy.
• Debt such as child support, spousal support, recent tax debt, and student loans are not dischargeable debts under Chapter 7.
• To keep property for which you still owe money, such as a car, you must be up-to-date on your payments and continue to make those payments.
• There are some limited exemptions that will allow you to hold on to most of your property, such as cars, clothing, and furniture.

If you have more questions about bankruptcy, do not hesitate to consult with an experienced Chapter 7 Bankruptcy Attorney at Kindlund Legal LLC. If you live in or near Landover Hills, MD, call (240) 997-5775 for a free consultation.

What Are The Options For A Small Business To File Bankruptcy?

Depending on your end goal for your business, business owners have three different ways to file bankruptcy. They are Chapter 7, Chapter 11, and Chapter 13 bankruptcy. Below are some key differences among them.

1. Chapter 7 bankruptcy. This is a liquidation bankruptcy for both individuals and businesses. Chapter 7 is most useful for sole proprietors, as all unsecured personal and business debts can be discharged. One negative outcome is that your personal assets are at risk, because as a sole proprietor, you are personally responsible for all business assets.
2. Chapter 11 bankruptcy. This is a reorganization, or restructuring, bankruptcy. Under chapter 11, you may continue to run your business under the terms set forth by the bankruptcy. Your debts are reorganized so that you are paying smaller amounts to creditors when payments are due.
3. Chapter 13 bankruptcy. This is also a reorganization of debts available to individuals, including sole proprietors. Under chapter 13, a sole proprietor is not personally responsible for business debts, as they would be under chapter 7 bankruptcy.

If you are a small business owner and struggling with debt, it might be time to speak with an expert Small Business Bankruptcy Attorney at Kindlund Legal LLC. If your business is located in or near Landover Hills, MD, call (240) 997-5775 for a free consultation.

How Can A Bankruptcy Attorney Help Me?

While it is not an absolute requirement to hire a bankruptcy attorney, it can save you time and frustration if you do. If you have found yourself unable to emerge from a mountain of debt, it might be time to speak with an experience Bankruptcy Attorney. The legal professionals at Kindlund Legal LLC will assist you with the following.

1. Speaking with your creditors and debt collectors to stop the calls
2. Fill out all paperwork correctly and efficiently
3. Keep you updated each step of the journey
4. Advise you throughout the bankruptcy process

If you or your business needs relief from overwhelming debt, it might be time to meet with an expert Bankruptcy Law Attorney at Kindlund Legal LLC. If you are located in or near Landover Hills, MD, call (240) 997-5775 for a free consultation.