Laurel, Maryland, is a friendly town of just over 25,000 people located along the Patuxent River roughly mid-way between Washington, DC, and Baltimore. The Laurel area hosts numerous historical sites and a racetrack. Fort Meade, the National Security Agency headquarters, and the Johns Hopkins University Applied Physics Laboratory are all located nearby. Laurel offers extensive opportunities for sports and recreation.
Even then, financial problems can arise anywhere at unexpected times that can stress people, businesses, and organization in unexpected ways. Personal issues such as divorce or illness, or larger economic forces such as the current recession can cause hardship. Bankruptcy sometimes may be one of the more effective solutions, as it offers a method of resolving debts that have grown beyond one’s ability to pay. A major source of concern for those considering bankruptcy involves fear of the sale of the debtor’s assets to pay debts. Certain assets may be exempted from sale in a bankruptcy proceeding. A knowledgeable Laurel bankruptcy attorney can guide you through the process and protect your assets.
Congress enacts most of the bankruptcy laws in the United States, but the states, including Maryland, has their own set of rules about property that is exempted from seizure and sale. Your attorney must be thoroughly familiar with the bankruptcy in Maryland. The bankruptcy court will appoint a trustee to manage your case. In Chapter 7 bankruptcy, this includes reviewing all of your assets to determine what may be sold, if any. Certain assets are protected, giving some peace of mind that bankruptcy will not lead to the loss of everything. Exemptions typically include personal property up to a specific dollar amount and property needed for one’s livelihood. A diligent Laurel bankruptcy lawyer can help advise you on the process of bankruptcy and your rights, and can identify exempt property.
The Law Office of Edward Gonzalez, P.C. is located at 6301 Ivy Lane, Suite 700, Greenbelt, Maryland 20770. From Laurel, head south on U.S. Highway 1 (Baltimore Avenue) for about 5 miles. In Beltsville, turn left onto Powder Mill Road and go about half a mile. Turn right on Edmonton Road and travel 1.5 miles. Turn right on Cherrywood Lane, and turn left on Ivy Lane. The office will be on your right.
Laurel bankruptcy lawyer Edward Gonzalez has over 20 years’ experience in law practice successfully representing Maryland individuals and businesses in Maryland. For a confidential consultation about your financial future, contact the firm today.