If you’re considering filing bankruptcy in Baltimore, MD, you’ll need to understand the types, costs, as well as some helpful advice to finding good attorneys.

Am I Qualified for Bankruptcy?

Filing for bankruptcy in Baltimore, Maryland, or anywhere in the United States, is a legal process designed to provide relief to individuals or businesses overwhelmed by debt. The qualifications for filing bankruptcy in Baltimore, MD, are primarily governed by federal bankruptcy laws, specifically under Chapter 7 and Chapter 13 of the Bankruptcy Code. However, there are certain eligibility requirements and considerations that individuals must meet to be qualified for bankruptcy relief in Baltimore, MD.

1. Residency Requirements: To file for bankruptcy in Baltimore, MD, you generally need to be a resident of the state or have a domicile, a place where you intend to maintain a permanent home, in Maryland. There is no specific time frame for how long you must have lived in Maryland, but establishing residency is essential.
2. Credit Counseling Requirement: Before filing for bankruptcy in Baltimore, MD, individuals are required to complete credit counseling through an approved agency. This counseling aims to assess your financial situation and explore alternatives to bankruptcy. You must obtain a certificate of completion, which you’ll need to include with your bankruptcy petition.
3. Means Test: The means test is a critical factor in determining whether you can file for Chapter 7 bankruptcy in Baltimore, MD. This test evaluates your income, expenses, and family size to assess your ability to repay your debts. If your income falls below the state median income for a household of your size, you may be eligible for Chapter 7. If your income exceeds this threshold, you might still be eligible for Chapter 7 depending on your disposable income after deducting certain allowable expenses.
4. Chapter 13 Eligibility: If you don’t pass the means test for Chapter 7 or have a steady income, you may still be eligible for Chapter 13 bankruptcy in Baltimore, MD. Chapter 13 involves creating a repayment plan to pay off some or all of your debts over a three to five-year period. To qualify for Chapter 13, you must have a regular income and be able to demonstrate your ability to make the required plan payments.
5. Previous Bankruptcy Discharges: If you’ve previously received a discharge in a Chapter 7 bankruptcy case, you must wait eight years from the date of the prior filing before you can file for Chapter 7 bankruptcy again. If you’ve received a discharge in a Chapter 13 case, the waiting period is four years before you can file for Chapter 7. These waiting periods are essential to consider when determining your eligibility for bankruptcy in Baltimore, MD.
6. Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA): The BAPCPA introduced additional requirements for bankruptcy filers. These include completing a financial management course after filing for bankruptcy and submitting all necessary financial documents to the bankruptcy trustee.
7. Engaging an Attorney: While it’s not a strict requirement to have an attorney when filing for bankruptcy in Baltimore, MD, it’s highly recommended. Bankruptcy laws can be complex, and an experienced attorney can help you navigate the process, ensure you meet all eligibility requirements, and maximize the benefits of bankruptcy.
8. Meeting with a Trustee: After filing for bankruptcy, you will be required to attend a meeting of creditors, also known as the 341 meeting. This is a crucial step in the process, and you must attend as required. It provides creditors an opportunity to ask questions about your financial situation, and the bankruptcy trustee will also review your case.
9. Honesty and Full Disclosure: To qualify for bankruptcy in Baltimore, MD, you must provide complete and accurate information about your financial situation, including your income, expenses, assets, and debts. Failing to disclose assets or providing false information can result in the dismissal of your case or even criminal charges.
10. Special Circumstances: In some cases, individuals with unique financial situations or hardships may be eligible for bankruptcy relief even if they don’t meet all standard criteria. Consultation with a bankruptcy attorney is essential in such cases to explore potential options.

The qualifications for filing bankruptcy in Baltimore, MD, are primarily determined by federal bankruptcy laws, including residency, income, and other factors. The means test plays a crucial role in determining whether you are eligible for Chapter 7 bankruptcy, while Chapter 13 may be an option for those with a regular income. It’s important to seek legal counsel and follow the required procedures to ensure a successful bankruptcy filing and the opportunity for debt relief. Additionally, being honest and fully disclosing your financial situation is vital throughout the process.

RESOURCES:

Do You Need a Lawyer to File For Bankruptcy in Baltimore, MD?

While it is not an absolute requirement to have a lawyer to file for bankruptcy in Baltimore, Maryland, or anywhere in the United States, it is highly recommended for several compelling reasons. Filing for bankruptcy can be a complex and legally intricate process, and having an experienced bankruptcy attorney can greatly enhance your chances of a successful outcome and provide numerous advantages.

Here are some key reasons why it is advisable to have a lawyer when filing for bankruptcy in Baltimore, MD:

1. Legal Expertise: Bankruptcy law is a specialized field with its own set of rules, regulations, and procedures. An experienced bankruptcy attorney is well-versed in these laws and can provide expert guidance tailored to your unique financial situation.
2. Understanding Your Options: There are different chapters of bankruptcy, including Chapter 7 (liquidation) and Chapter 13 (reorganization), each with its own eligibility requirements and implications. A lawyer can assess your circumstances and advise you on the most appropriate chapter for your situation.
3. Navigating the Means Test: If you are considering Chapter 7 bankruptcy, you must pass the means test, which assesses your income and expenses. An attorney can help you accurately complete the means test and determine whether you meet the eligibility criteria.
4. Completing and Filing Documents: Bankruptcy involves a substantial amount of paperwork, including the bankruptcy petition, schedules, and statements. A lawyer can help you gather the necessary documents, complete them accurately, and file them in a timely manner, reducing the risk of errors or omissions that could delay your case.
5. Protection from Creditor Harassment: Once you hire an attorney, creditors are legally required to communicate with your attorney rather than contacting you directly. This can provide significant relief from creditor harassment, as your attorney can handle communications on your behalf.
6. Avoiding Mistakes: Bankruptcy filings are subject to strict rules and deadlines. Failing to meet these requirements can result in your case being dismissed or delayed. An attorney can help ensure that you meet all legal obligations and deadlines throughout the bankruptcy process.
7. Asset Protection: Bankruptcy laws offer exemptions that allow you to protect certain assets from being sold to repay creditors. An attorney can help you take full advantage of these exemptions to protect your property.
8. Negotiating with Creditors: In Chapter 13 bankruptcy, you’ll need to propose a repayment plan to creditors. An attorney can negotiate with creditors on your behalf to achieve favorable terms within the bounds of the law.
9. Handling Complex Situations: If your bankruptcy case involves complex financial arrangements, such as business debts, tax debts, or litigation, an attorney’s expertise is invaluable in addressing these complexities.
10. Minimizing Risks: Bankruptcy petitions can be challenged by creditors or the bankruptcy trustee. Having an attorney by your side can help you respond to challenges effectively and minimize the risk of having your bankruptcy discharge denied.

While it is technically possible to file for bankruptcy in Baltimore, MD, without an attorney, it is highly recommended to seek professional legal counsel. Bankruptcy is a significant legal and financial decision, and having an attorney can help ensure that you navigate the process smoothly, protect your assets, and achieve the best possible outcome for your financial future. An experienced bankruptcy attorney can be an invaluable resource in helping you regain control of your financial life.

Cost to File Chapter 7 Bankruptcy in Baltimore, MD

The cost to file Chapter 7 bankruptcy in Baltimore, Maryland, consists of several fees and expenses that you’ll need to consider when initiating the bankruptcy process.

1. Filing Fee: The primary expense is the filing fee paid to the U.S. Bankruptcy Court. As of my last update, the filing fee for a Chapter 7 bankruptcy case in Baltimore, MD, was $388. This fee is subject to change, so it’s essential to check the most current fee schedule on the official website of the U.S. Bankruptcy Court for the District of Maryland or consult with a bankruptcy attorney for the latest information.
2. Credit Counseling and Financial Management Courses: Before and after filing for Chapter 7 bankruptcy, you are required to complete credit counseling and financial management courses through approved agencies. The cost of these courses typically vary. Keep in mind that some agencies offer fee waivers or reduced fees for those with financial hardship.
3. Attorney Fees: While you are not required to hire an attorney to file for bankruptcy, it is highly advisable to do so for a successful and stress-free process. Attorney fees can vary widely depending on the complexity of your case, the attorney’s experience, and other factors. Expect attorney fees for Chapter 7 bankruptcy in Baltimore, MD, to range from $1,500 to $3,500 or more. Some attorneys may offer payment plans to make their services more accessible.
4. Credit Report: You may need to obtain a copy of your credit report to ensure that all your creditors are listed accurately in your bankruptcy petition. Credit reports typically cost around $12 to $24 per report from one of the major credit reporting agencies (Equifax, Experian, or TransUnion).
5. Miscellaneous Costs: There may be other minor expenses associated with your Chapter 7 bankruptcy case, such as postage, notary fees, or document reproduction costs. These are relatively small but can add up.
6. Exemptions and Special Circumstances: If you have significant assets that you wish to protect using exemptions, you might incur additional expenses related to appraisals or evaluations to determine the value of these assets. Exemptions allow you to keep certain property while still seeking relief from your debts.

Keep in mind that bankruptcy laws and fees can change over time, so it’s crucial to consult with an experienced bankruptcy attorney or visit the official website of the U.S. Bankruptcy Court for the District of Maryland to get the most up-to-date information on the costs associated with filing Chapter 7 bankruptcy in Baltimore, MD. Additionally, discussing your financial situation with an attorney will help you understand the full scope of potential expenses and make informed decisions about your bankruptcy case.

Cost to File Chapter 11 Bankruptcy in Baltimore, MD

Filing for Chapter 11 bankruptcy in Baltimore, Maryland, is typically more complex and expensive than filing for Chapter 7 or Chapter 13 bankruptcy due to the nature of Chapter 11 cases. Chapter 11 is primarily used by businesses, corporations, and individuals with substantial debts who need to reorganize their finances. The costs associated with filing Chapter 11 bankruptcy can vary widely depending on the specific circumstances of the case, but here are some key expenses to consider:

1. Attorney Fees: The largest expense in a Chapter 11 bankruptcy case is typically attorney fees. Chapter 11 cases involve complex legal and financial processes, and it’s highly recommended to hire an experienced bankruptcy attorney with expertise in Chapter 11 proceedings. Attorney fees can vary significantly based on the complexity of the case, the size of the business or estate, and the attorney’s hourly rates. Expect Chapter 11 attorney fees in Baltimore, MD, to start at several thousand dollars and can escalate substantially for larger or more complex cases.
2. Filing Fee: The filing fee for a Chapter 11 bankruptcy case can be significant. The filing fee for a Chapter 11 case is $1,717. This fee is subject to change, so it’s essential to verify the current fee on the official website of the U.S. Bankruptcy Court for the District of Maryland.
3. U.S. Trustee Fees: In Chapter 11 cases, the U.S. Trustee’s office may assess quarterly fees based on the debtor’s disbursements or income. The exact amount of these fees depends on the debtor’s financial activity and can vary widely.
4. Credit Counseling and Financial Management Courses: Like other bankruptcy chapters, Chapter 11 filers are required to complete credit counseling and financial management courses. The costs for these courses are similar to those in Chapter 7 and Chapter 13 cases, typically ranging from $30 to $60 for each course.
5. Professional Fees: In complex Chapter 11 cases, debtors may need to hire other professionals, such as financial advisors, accountants, or appraisers, to assist in the reorganization process. These professionals will charge their own fees, which can add substantially to the overall cost of the bankruptcy.
6. Court Costs: There may be additional court-related costs, such as motion filing fees, appearance fees, and other expenses associated with litigation or proceedings within the bankruptcy case.
7. Committee Fees: In some Chapter 11 cases, committees of creditors or equity security holders may be formed. These committees may hire legal and financial professionals, and the costs associated with these professionals may be borne by the debtor’s estate.

It’s important to note that Chapter 11 bankruptcy cases can be lengthy and involve ongoing expenses, such as attorney fees and U.S. Trustee fees, until a plan of reorganization is confirmed. The total cost of a Chapter 11 bankruptcy can vary significantly based on the complexity of the case, the size of the debtor’s estate, and the duration of the proceedings.

Cost to File Chapter 13 Bankruptcy in Baltimore, MD

Filing for Chapter 13 bankruptcy in Baltimore, Maryland, involves specific costs and fees that individuals must consider when pursuing debt relief through this chapter. Chapter 13 bankruptcy is often chosen by individuals with a regular income who want to reorganize their debts and create a manageable repayment plan. Here’s a breakdown of the typical costs associated with filing Chapter 13 bankruptcy in Baltimore, MD:

1. Filing Fee: The filing fee for a Chapter 13 bankruptcy case in Baltimore, MD, is set by the U.S. Bankruptcy Court. This fee is subject to change, so it’s important to verify the current fee on the official website of the U.S. Bankruptcy Court for the District of Maryland or through your attorney.
2. Credit Counseling and Financial Management Courses: Before and after filing for Chapter 13 bankruptcy, you are required to complete credit counseling and financial management courses from approved agencies. These courses typically cost between $28 to $58 each, but fees can vary. Some agencies offer fee waivers or reduced fees for individuals with financial hardship.
3. Attorney Fees: Hiring an experienced bankruptcy attorney to guide you through the Chapter 13 process is highly recommended. Attorney fees for Chapter 13 bankruptcy in Baltimore, MD, can vary based on factors like the complexity of your case and the attorney’s rates. Expect attorney fees to range from $2,800 to $5,000 or more. Some attorneys may offer payment plans to help make their services more affordable.
4. Chapter 13 Plan Payments: Under Chapter 13, you’ll be required to make regular monthly payments to a trustee who then distributes the funds to your creditors as per your court-approved repayment plan. The amount of these plan payments depends on your income, expenses, and the amount of debt you owe. These payments are a significant part of the overall cost of Chapter 13 bankruptcy.
5. Miscellaneous Costs: There may be additional costs related to your bankruptcy, such as postage, notary fees, or document reproduction expenses. These are generally relatively minor but can add up.
6. Post-Petition Debts: While not a filing cost, it’s important to note that you are responsible for maintaining payments on debts that arise after filing for Chapter 13 bankruptcy, such as mortgage or car loan payments.

Chapter 13 bankruptcy can be a beneficial option for individuals with a regular income who want to repay their debts over a period of time and avoid the liquidation of assets. While there are associated costs, the benefits of a structured repayment plan and the potential for debt discharge make Chapter 13 a valuable tool for those seeking financial relief and stability.

Reliable Bankruptcy Attorneys in Baltimore, MD

Below is a list of reputable bankruptcy attorneys in Baltimore, MD. They can help you with both personal and business bankruptcy information.

Bankruptcy Attorneys in Baltimore, MD
201 N Charles St #1504, Baltimore, MD 21201, United States

James R. Logan PA
2419 Maryland Ave, Baltimore, MD 21218, United States

Steiner Law Group, LLC
115 Sudbrook Ln #206, Baltimore, MD 21208, United States

Charlene Wilson Law Office
100 S Charles St Suite 1740, Baltimore, MD 21201, United States

Grossbart Portney & Rosenberg
One Charles Center, 100 N Charles St 20th Floor, Baltimore, MD 21201, United States

Baltimore, MD Zip Codes We Proudly Serve:

21201, 21202, 21205, 21206, 21207, 21208, 21209, 21210, 21211, 21212, 21213, 21214, 21215, 21216, 21217, 21218, 21222, 21223, 21224, 21225, 21226

---