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Former Chapter 7 Trustee

Kindlund Legal LLC.
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  • Your Knowledgeable Bankruptcy Attorney In Laurel, Maryland

    Are you facing extreme or increasing debt, and curious whether you have options? Find the financial solutions you are looking for at Kindlund Legal LLC!

    Trying to survive when bills keeps piling up can make you feel like you are slowly drowning. Financial hardships can impact every area of your life, including your housing, health, relationships, and work. If you are struggling to pay your debt and current bills, you may be wondering what you can do about your situation, or whether bankruptcy might be the right choice for you.

    At Kindlund Legal LLC, we understand the high level of stress you are dealing with regularly when you are facing an overwhelming amount of debt and an inability to pay it off. Our firm helps clients just like you in the Laurel, MD, area to successfully navigate the complex bankruptcy process.

    Whether you need a small business bankruptcy attorney or you plan to file as an individual, our firm has the experience needed to guide you through your bankruptcy proceedings. You can trust bankruptcy law attorney Jillian Kindlund and her team to provide the information and solutions to get you back on your feet.

    What Type Of Bankruptcy Is Best For My Situation?

    If you are thinking about filing for bankruptcy in Laurel, MD, one of your first steps should be to determine which type of bankruptcy you want to file for. Each type of bankruptcy has its own benefits and drawbacks.

    For instance, chapter 7 bankruptcy allows you to gain a clean slate by wiping away all of your eligible debts, including credit card debt, medical bills, business debt, personal loans, and more. However, you may have to give up some of your assets and belongings in order to pay off your debts, which may or may not work for you.

    On the other hand, chapter 13 bankruptcy helps create a plan for you to pay back your debt over three to five years. This type of bankruptcy may be better for those who want to keep more of their assets, and have regular income to be able to make payments. However, it does not erase all of your debt the way chapter 7 bankruptcy does.

    If you are considering bankruptcy, your best course of action is to consult with a professional bankruptcy lawyer, who can walk you through each type of bankruptcy. Our firm will be happy to discuss your financial situation with you to help you determine whether bankruptcy is the right step for you, and which type is best for you and your family.

    Am I Eligible For Bankruptcy In Maryland?

    Whether or not you are eligible for bankruptcy depends on several different factors, including which type of bankruptcy you would like to apply for. For any type of bankruptcy, you cannot have already had a debt discharge through bankruptcy within a certain amount of time, which depends on which type of bankruptcy you filed previously.

    For you to qualify for chapter 7 bankruptcy, your income must not be above a certain level. You will need to complete a means test, which is an assessment of your finances that will help determine whether you are eligible to apply for chapter 7 bankruptcy. It is based on specific factors, such as your income and the size of your household.

    For chapter 13 bankruptcy, your debt must not be more than a specified amount, and you must have enough income to be able to continue making payments. A bankruptcy lawyer at Kindlund Legal LLC will be able to assist you with determining the qualifications for the type of bankruptcy for which you wish to file.

    Can I Keep Any Of My Assets If I File For Bankruptcy?

    The effect bankruptcy has on your assets depends significantly on what type of bankruptcy you have chosen. Chapter 13 generally allows you to keep more of your assets as you continue to make payments. With chapter 7 bankruptcy, there is generally a liquidation of the debtor’s assets, which means you may have to give up many of your assets.

    However, there are some exceptions, which may include your home, some of your personal items and furniture, and some of your retirement accounts. Whether you can retain your home depends on its value, and other items may have a limit, such as $1,000 for your household items.

    Reclaim Your Financial Well-Being Today!

    Kindlund Legal LLC | Laurel, Maryland

    If you have found yourself stuck in overwhelming debt, it’s time to take action to improve your financial situation so you can focus on other aspects of your life! Kindlund Legal LLC is dedicated to bettering the lives of our clients through debt relief and bankruptcy assistance.

    If you would like to know more about the bankruptcy process in Laurel, Maryland, reach out to our firm today. Contact us now at (240) 539-9393 to speak with a qualified chapter 13 or chapter 7 bankruptcy attorney. Let us help you find financial security and freedom from your debts!

    Jillian Kindlund

    Call Now For A Complimentary Case Evaluation
    (240) 539-9393
    Former Chapter 7 Trustee

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