Bankruptcy Advisory Center 105 W. Main St. Salisbury, MD 21801 US

(410) 860-6606

Bankruptcy Advisory Center


Bankruptcy Advisory Center

We Have Helped Our Clients Resolve Bankruptcy and Debt Relief Issues for 35 Years.               

105 West Main Street
Salisbury, MD 21801

Phone:   (410)860-6606
Fax:        1 (443) 288-6604

Is Bankruptcy Right for You?

      Bankruptcy is not always the best route to solving an individual's  financial problems.  The first issue we need to solve is whether  bankruptcy will help you.  While bankruptcy will help the vast majority  of the clients I interview, occasionally that is not the case.  I will  not recommend that you file bankruptcy if that would not truly benefit  you.

     One form of bankruptcy is called a Chapter 7 proceeding, also  referred to as a "liquidating bankruptcy". In a Chapter 7 proceeding,  the Debtor lists all of his or her assets, but then identifies which  assets the Debtor will claim as exempt (not available for liquidation by  the bankruptcy trustee appointed by the Bankruptcy Court to sell any  non-exempt assets.  Asset exemptions are limited by Maryland law, but  more often than not, my clients can exempt all of there assets.

     Not all debts are dischargeable (extinguished), but most are. Taxes  that are less than three years old are not dischargeable.  Student  loans are generally non-dischargeable, but can be discharged if  repayment will cause "undue hardship".  This standard is extremely hard  to meet.

     Please call my office to make an appointment today to review your  financial situation and start you on the road toward financial recovery.

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Bankruptcy Advisory Center is a debt relief agency. It helps people file for bankruptcy relief under the Bankruptcy Code.  

Content copyright 2010-2019. Stephen M. Hearne. All rights reserved.