Silver Spring, Maryland

Silver Spring, Maryland, named for a spring dotted with mica deposits discovered in 1840, is the fourth most populous urban area in Maryland. A suburb of Washington, DC, Silver Spring has grown into a business center in its own right, boasting a significant office space and a growing downtown. Silver Spring is not an incorporated city, but is a census-designated place, so residents use Silver Spring as their address. The area has enjoyed a renaissance of sorts in the past ten years with both residential and commercial development and cultural opportunities like film and music. Unfortunately, people and businesses in this burgeoning area are not always immune from financial troubles, especially in the face of our current economic situation.

There are a number of ways to address financial problems, but bankruptcy can be one of the more effective solutions. When beginning the process of filing for bankruptcy, it is important to understand what property is exempt from being seized or sold as part of the bankruptcy case. An experienced Silver Spring bankruptcy attorney can inform you about the bankruptcy process and which of your possessions are protected.

The federal bankruptcy code governs most aspects of bankruptcy, but Maryland state law establishes what property is exempt. Your attorney must be thoroughly familiar with bankruptcy in Maryland.

Filing for bankruptcy is a complex and detailed process. You will have to make an inventory of everything you own and everything you owe to others. You must account for the value of all your assets and the balance of all your debts. If a debt is collateral for a specific asset, such as a car loan, you must account for whatever equity you own in that asset. A bankruptcy trustee, assigned by the court, will review the details of your estate and make recommendations to the court on how to process your case. This is where a diligent Silver Spring bankruptcy lawyer can help you protect as many assets as possible under the law.

The Law Office of Edward Gonzalez, P.C. is located about 10 miles from Silver Spring in Greenbelt, Maryland. Take I-495 east for about 7 miles until you reach Exit 23, MD-201 N/Kenilworth Avenue. Take that exit, and turn left on Kenilworth Avenue. After about 0.6 miles, turn left on Ivy Lane, and the office will be on the left, at 6301 Ivy Lane, Suite 700, Greenbelt, Maryland 20770

Silver Spring bankruptcy attorney Edward Gonzalez brings to your aid 20 years of legal experience handling financial matters. The success of his law practice over the years demonstrates how he can assist you in your case. Contact the firm today to schedule a free initial consultation to begin planning your financial future.