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  • By: Kindlund Legal LLC
  • Published: June 9, 2021

There are many common misunderstandings about bankruptcy. One of the biggest misunderstandings is the idea that everyone who files for bankruptcy will automatically lose their home, their car, and all of their assets and belongings. This is simply not true. It is true that some types of bankruptcy involve the liquidation of some assets, in some cases. This happens in order to pay a portion of the debt that is owed to your debtors. However, bankruptcy law includes exemptions, or things that cannot be touched when assets are liquidated. In…Read More

  • By: Kindlund Legal LLC
  • Published: June 9, 2021

When filing for bankruptcy, most people want to be able to retain as much normalcy as possible. One thing that potential bankruptcy filers are often concerned about is their car. If you live in Maryland, you know that you basically need a car to survive and function here. Therefore, wanting to know about the fate of one’s car is totally understandable. The answer to the question of what happens to car leases in bankruptcy depends, like many things in bankruptcy, on your situation. When you file for bankruptcy, it starts…Read More

  • By: Kindlund Legal LLC
  • Published: May 2, 2021

When going through bankruptcy or after you file, your credit score will suffer a blow. Fortunately, there are ways that you can bounce back from bankruptcy with a better credit score than ever. One way that many people build their credit is through the use of a secured credit card. Nerdwallet describes a secured credit card as a credit card upheld by a cash deposit. How does a secured credit card work? Secured credit cards are easier to obtain than unsecured cards. Unsecured cards pose a higher risk to lenders.…Read More

  • By: Kindlund Legal LLC
  • Published: April 21, 2021

You may feel heavily burdened by debt. You have creditors calling you about missed payments all the time. You don’t know how you ever will pay off your mounting debt and move forward. Yet, you are hesitant about seeking bankruptcy relief. You are uncertain about if you should hurt your credit even more by having a bankruptcy on your credit report. How long will a bankruptcy affect your credit if you seek one? Chapter 7 vs. Chapter 13 and credit A Chapter 7 bankruptcy will remain on your credit report…Read More

  • By: Kindlund Legal LLC
  • Published: April 6, 2021

Few things can cause you more stress than receiving constant calls, texts and emails from your creditors when you fall behind in your payments. While creditors have the right to pursue payment of their accounts, however, they do not have the right to harass you. FindLaw explains that the Fair Debt Collection Practices Act offers you numerous protections. If one or more of your creditors goes beyond what the FDCPA allows, however, you have three basic options as follows: Take informal steps Take formal steps File bankruptcy Informal steps You may wish…Read More

  • By: Kindlund Legal LLC
  • Published: March 12, 2021

If you count your dog as a treasured member of your family, you undoubtedly already know the many mental health benefits that come with owning a companion animal. Still, if you are struggling to stay on top of mountains of debt, the stress you feel may be too much for your pooch to make much of a difference. Depending on the type of bankruptcy you choose, you may either be able to discharge many of your debts or structure a reasonable repayment plan. Sometimes, though, you must part with certain assets during…Read More

  • By: Kindlund Legal LLC
  • Published: March 1, 2021

You are certainly not alone in your struggles with debt (nor are you alone in your desire to want to deal with them in the best way possible). For many people in Maryland, seeking personal bankruptcy protection is the best option to re-establishing themselves on a firm financial footing. Chapter 7 is by far the most popular form of personal bankruptcy. Most people come to us here at Kindlund Legal LLC wanting to file under this Chapter (no doubt due to the benefit it offers of having certain debts discharged).…Read More

  • By: Kindlund Legal LLC
  • Published: February 25, 2021

Bankruptcy is a powerful tool that can help you overcome considerable amounts of financial troubles. In fact, bankruptcy has helped more than 700,000 people every year take back control over their future. While bankruptcy offers a major benefit, there are several things to consider before applying. Take a moment to review your situation by considering these factors to determine if you should proceed with filing for bankruptcy: Do you have a pending lawsuit? If you have been unable to pay your bills for too long, debt collectors may file a collection lawsuit…Read More

  • By: Kindlund Legal LLC
  • Published: February 19, 2021

Credit cards have a way of quickly amassing thousands of dollars of debt without the debtor noticing. When there is too much debt on a credit card, the card’s minimum monthly payment becomes overwhelming, and a dead or finds themselves unable to pay off their debt. What can a credit card Holder in this position do to overcome their financial hardship? Bankruptcy is a powerful tool to help people overcome severe financial debt, but how can it affect credit card debt? When the average bankruptcy applicant has more than $17,000 in…Read More

  • By: Kindlund Legal LLC
  • Published: February 16, 2021

Understandably, you may hesitate to file for bankruptcy in Maryland. Does your belief in bankruptcy falsehoods stand in the way of financial relief? The American Bankruptcy Institute investigates common bankruptcy myths that you may believe. Separate fact from fiction to figure out your next move. “Bankruptcy ruins your credit for the rest of your life.” True, filing for bankruptcy initially hurts your credit score, but do not anticipate permanent damage. In actuality, credit card companies may send you offers for secured credit cards with low limits weeks after you discharge your debt.…Read More

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