Maryland attorney advises community on bankruptcy filing


Glen Burnie, MD based at Zide Siegel Tabor & Spigel (ZSTS) makes his expertise available to anyone in serious financial trouble. The company has kept a close eye on the well-being of their community over the past few years, and they understand that many are unfortunately being pushed closer to their breaking point. However, some mechanisms exist that can ease this burden, and a Maryland Bankruptcy Attorney can help people fully explore these options.

The main advantage of having a bankruptcy attorney is the fact that their only interest is to help their client. Anyone on the brink of financial collapse will undoubtedly be under enormous stress. They may face a seemingly endless array of bills, risk losing their home, and even have an after creditor call or reach out in some way to demand payment. In such a situation, it may feel like no one is on their side, but that is not the case. Zide Siegel Tabor & Spigel have a history of helping people consider their options and find ways to protect themselves, and their sole purpose is to serve the best interests of their community. Thus, any client will find that there is no better partner to solve their impending financial problems than an experienced and conscientious lawyer from Zide Siegel Tabor & Spigel.

According to the company, the most common type of bankruptcy is Chapter 7 bankruptcy, and one of the reasons customers tend to like it is the fact that it can significantly reduce (or eliminate) appeals. of their creditors. It functionally allows the client to start from scratch. The firm says many assets will need to be sold in order to pay off debts. Although some assets are exempt, the company’s experience shows that most clients end up with little or no assets once the exemptions are taken into account. As this will be difficult for many to accept, the firm recommends that clients bring a list of their assets to their first meeting. The attorney will review this with the client and identify the assets (if any) that will be exempt, giving them an idea of ​​what to expect if they proceed with the Chapter 7 filing.

It is also necessary to examine the debt in question and determine if filing Chapter 7 will remedy it. An individual can have two types of debt: secured and unsecured, with the former potentially being the reason their property can be seized to pay debts. According to ZSTS, this may refer to instances where the client has used collateral (such as a house or car) to obtain financial assistance, and failure to make agreed payments may lead the creditor to seize the asset. in question. Conversely, non-payment of unsecured debt will not result in seizure of assets; ZSTS says this can include unpaid medical bills, credit card balances and utility payments. See more here: Maryland Chapter 7 Bankruptcy.

Some may be able to file for Chapter 13 bankruptcy instead. Here, they will be able to keep their assets and repay their obligations on a monthly basis over a period of three or five years rather than being forced to sell them. ZSTS can help customers create a payment schedule that fits their means, and since monthly payment plan amounts increase with non-exempt assets, they can also help determine which assets are not exempt.

When filing Chapter 13, certain types of debt take priority over others. According to the ZSTS, these debts are known as priority debts and include current tax debts, restitution, alimony, child support, etc. Typically, the company starts by making sure the customer can pay them back. After priority debts, a person filing for Chapter 13 will have to pay off secured debts, then unsecured debts. However, many of the rules that apply to Chapter 7 bankruptcy also apply to Chapter 13 bankruptcy in Maryland, which can make it easier for the client to understand their options. However, given the complexity of these issues, it is strongly recommended that they contact a Maryland Chapter 13 Bankruptcy lawyer who can help them decide what is best for their situation.

Zide Siegel Tabor & Spigel is pleased to announce that clients can call their office directly to receive a free bankruptcy assessment from one of their experts. Contact details and other relevant information can be found on the company’s website.


For more information on Zide Siegel Tabor & Spigel | ZSTS, contact the company here:

Zide Siegel Tabor & Spigel | ZSTS
Marla Zide
(410) 760-9433
[email protected]
7310 Ritchie Highway
Office 1001
Glen Burnie, MD 21061


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