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  • 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

  • By: Kindlund Legal LLC
  • Published: February 5, 2021

Most people do not start accumulating debt with the intention of having it take over their lives. What started out as one credit card to help improve your credit, for example, may have turned into five credit cards all maxed at their limits.  If you find yourself unable to make ends meet and satisfy your minimum payments, you may have questions regarding the rights of creditors to recoup what you owe them.  Yes, creditors can garnish your wages According to FindLaw experts, creditors can have a portion of your wages removed…Read More

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

You adjusted your budget, picked up a part-time gig in Maryland and sold a few of your belongings, but you cannot catch up on mortgage payments. Foreclosure looms in the distance, and you do not know what to do. Get tips on avoiding foreclosure from the U.S. Department of Housing and Urban Development. Educate yourself on ways to keep your home and sanity. Reach out to your lender soon Do not wait for your lender to contact you about late mortgage payments. Let your lender know about your financial struggles soon, so…Read More

  • By: Kindlund Legal LLC
  • Published: January 17, 2021

Whether you file for chapter 7 or 13 bankruptcy, one requirement is for you to attend a 341 meeting, also known as the meeting of creditors. Upon filing your petition for bankruptcy, the courts will schedule a date for you and your creditors to meet regarding your case.  You should not confuse the meeting of creditors as a shakedown, because it is not. It is a formal meeting in which you must swear under oath that you are who you claim to be and all information in your petition is accurate. You…Read More

  • By: Kindlund Legal LLC
  • Published: January 7, 2021

When struggling with debt, you want to know your options for getting out of it. Bankruptcy is one of the many possibilities available to you. In specific, Chapter 13 bankruptcy offers you a way out.  But as a debtor who files Chapter 13 bankruptcy, you have obligations to fulfill. What are they?  Prioritizing your debts The United States Courts examine all you need to know about Chapter 13 bankruptcy, including your obligations as a debtor. Your primary obligations all revolve around repaying the creditors. Chapter 13 bankruptcy lets you create a…Read More

  • By: Kindlund Legal LLC
  • Published: December 28, 2020

Wage garnishment is a process where a creditor or entity that you owe money takes it directly from your paycheck. It may happen for many reasons, such as to pay child support or to repay a debt.  When you have a wage garnishment, it is the responsibility of your employer to ensure payment. Having to do wage garnishments can be an annoyance to an employer and you may hear of their dissatisfaction with having to do it. It might make you worry that your employer will fire you so that…Read More

  • By: Kindlund Legal LLC
  • Published: December 9, 2020

Bankruptcy saves many people from outstanding debts. When you feel like you are suffocating under the weight of your debt and if your home is on the line, you need a way out.  If you face foreclosure but still have a stable income, then Chapter 13 bankruptcy may help you save your home, explains Credit Karma.  How Chapter 13 bankruptcy works Chapter 13 bankruptcy is for those who have a steady supply of income. It is a type of bankruptcy that allows you to keep your assets under the condition that you…Read More

  • By: Kindlund Legal LLC
  • Published: November 12, 2020

You plan to retire in a few years, and you want to double-check that you have your finances in order. You have heard more and more about elderly bankruptcy and want to avoid becoming another statistic.  See why Forbes thinks more older adults file for bankruptcy. When you understand the factors at play, you can create a strategy to protect your money.  Medical costs As we age, we often need more medical attention than we do at a younger age. The increased need for medical care combined with the price of such…Read More

  • By: Kindlund Legal LLC
  • Published: November 10, 2020

For many, buying a home in the District of Columbia requires some financial acrobatics. After all, according to Zillow, the median price for a home in the metro area is currently $641,121. If you have a good credit score, though, securing a mortgage may be possible.  Credit bureaus have a somewhat secretive approach to calculating personal credit scores. All of them, however, consider an individual’s debt-to-income ratio. This percentage is simply how much you owe relative to your income.  An easy calculation If you do not already know it, you…Read More

  • By: Kindlund Legal LLC
  • Published: October 28, 2020

There are a lot of scammers that try to trick you by pretending they are from the government or working on behalf of the government. So, it is not surprising that a collection agency claiming to be collecting for the IRS would raise red flags. However, according to the IRS, it could be legitimate because the agency does work with private collection companies to collect past due taxes. Accounts sent to private companies The IRS does not send every account to collections. It will not send your account to an agency…Read More

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