Bankruptcy Law
Services
Explore Your Path to
Financial Stability with
Expert Bankruptcy Law Services
Welcome to Bankruptcy Law at Akman & Associates
Struggling with debt can feel overwhelming, but you're not alone. At Akman & Associates, we understand the challenges and fears associated with financial distress. Whether it's due to divorce, loss of employment, injury, or illness, our skilled attorneys are here to guide you through your options and help decide the best course of action for your unique situation.
Understanding Bankruptcy
Bankruptcy law offers a legal pathway to individuals and businesses seeking relief from insurmountable debt. It's designed to evaluate your financial situation thoroughly and provide a structured solution. Our team is committed to dispelling the stigma around bankruptcy, offering you a fresh start and a clearer future.
How Do I File For Bankruptcy Chapter 7?
To initiate a Chapter 7 bankruptcy, you must first pass the means test, confirming that your income is below the state median for your household size. Our team at Akman & Associates will assist you in gathering financial records, filing your petition, and representing you at the 341 meeting with creditors. We simplify the process, ensuring clarity and compliance at every step.
The Difference Between Chapter 7 & Chapter 13: What You Need to Know
Chapter 7 bankruptcy is generally faster, wiping out unsecured debts like credit cards and medical bills without a repayment plan. In contrast, Chapter 13 allows you to keep all your assets and reorganize your debts with a 3-5 year payment plan, tailored to your income, which can include mortgage arrears and other secured debts. Akman & Associates will help you evaluate your financial situation to determine the best bankruptcy chapter to pursue, based on your long-term financial goals and current assets.
Do I Need a Lawyer to File for Bankruptcy?
Filing for bankruptcy without legal help can be risky due to complex laws and strict documentation requirements. Errors can jeopardize your case. At Akman & Associates, our skilled attorneys guide you through each step, ensure accurate paperwork, represent you in key meetings, and protect your rights, enhancing your chances for a favorable outcome. Whether it's Chapter 7 or Chapter 13, having an experienced lawyer is crucial.
CALL US NOW: (844) 70-AKMANCan I Keep My Home If I File for Bankruptcy?
Whether you can keep your home when filing for bankruptcy largely depends on the chapter you file under and your state’s exemption laws. In Chapter 7 bankruptcy, if your home equity is fully exempt, you can often keep your home. Chapter 13 bankruptcy generally allows you to keep your home as long as you continue to make your mortgage payments according to a court-approved plan. We'll help you navigate these rules to best protect your home.
CALL US NOW: (844) 70-AKMAN
How Does Bankruptcy Affect My Credit Score?
Filing for bankruptcy will affect your credit score, typically causing it to drop initially. However, the impact decreases over time. Chapter 7 bankruptcy remains on your credit report for 10 years, whereas Chapter 13 stays for 7 years. We provide strategies to start rebuilding your credit immediately after filing, such as obtaining a secured credit card and consistently managing new credit responsibly.
CALL US NOW: (844) 70-AKMANWhat Debts Are Discharged in Bankruptcy?
Bankruptcy can discharge most unsecured debts such as credit card debt, medical bills, and personal loans. However, student loans, child support, alimony, and most tax debts are not dischargeable. In your consultation, we will outline which of your specific debts can be cleared through bankruptcy, helping you understand the relief you can realistically expect.
CALL US NOW: (844) 70-AKMAN
How Long Does the Bankruptcy Process Take?
The duration of the bankruptcy process depends on the type you file. A Chapter 7 bankruptcy typically takes about 4 to 6 months from filing to discharge, while a Chapter 13 bankruptcy ranges from 3 to 5 years, as it involves a repayment plan. We aim to streamline the process and keep you informed every step of the way.
CALL US NOW: (844) 70-AKMANWhat Are the Costs of Filing for Bankruptcy?
The costs of filing for bankruptcy include court filing fees, attorney fees, and mandatory credit counseling costs. While these fees vary by case complexity and bankruptcy type, we provide a clear breakdown of all potential costs during your initial consultation to ensure full transparency and no surprises as we navigate your financial recovery.
CALL US NOW: (844) 70-AKMANOur Bankruptcy Services
in Maryland
Akman & Associates specializes in the following bankruptcy services:
- Chapter 7 Bankruptcy: Liquidation proceedings that can eliminate unsecured debts, giving you a new financial beginning.
- Chapter 13 Bankruptcy: A personal reorganization plan that allows you to repay debts over time, based on your income, to avoid foreclosure or repossession.
Additionally, our Pennsylvania office offers support in:
- Debt Consolidation/Restructuring
- Mortgage Modification
- Mortgage Foreclosure Defense
Why Choose Akman & Associates for Your Bankruptcy Case
Deep Legal Expertise
Our attorneys are seasoned in all aspects of bankruptcy law.
Personalized Approach
We understand each case is unique and offer tailored advice.
Comprehensive Support
From initial consultation to case resolution, we're with you at every step.
Get in Touch for Bankruptcy Assistance
Ready to take the first step towards regaining your financial freedom? Contact Akman & Associates today for a consultation on how we can assist with your bankruptcy needs. Let us help alleviate the stress and uncertainty of financial distress, guiding you to a brighter future.
CALL US NOW: (844) 70-AKMANSee what our clients have to say about
working with Akman & Associates.
Cory Johnson
3 weeks ago
Matt, Jared and the whole team at Akman & Associates were incredibly helpful, professional, and made my entire experience seamless from start to finish. Their team's wealth of knowledge and guidance were top tier. They were attentive and stayed with you every step of the way. Would highly recommend to anyone looking for legal services! No one does it better.
Danielle Zimmerman
4 weeks ago
Jared and the Akman group provided excellent services. From my first consult to the end, I was confident in every step in the process. Jared was available and more than willing to answer any questions or go over something in detail. He was professional and direct while being warm and approachable. I highly recommended him and the group.
Marquisha Christian
3 weeks ago
Jared and his associates provided the much needed legal advice to get me through my divorce. Every call, email and office visit was taken care of in a timely manner. I firmly believe Jared Akman obtained for me the best deal from a bad situation. I am so thankful for Akman and associates.
