Practice Areas

Bankruptcy

Bodie is a debt relief agency under the United States Bankruptcy code and offers assistance with all of your debt relief and Bankruptcy needs. Our goal is to provide you, the client, with all the necessary information to determine whether filing for Bankruptcy is right for you. We also work with our clients and creditors to explore alternative debt relief solutions to filing for Bankruptcy.

If you ultimately decide to file for Bankruptcy, the Firm will assist you in the preparation and filing of your Petition for Bankruptcy Relief to discharge your debts through Chapter 7, Chapter 11, or Chapter 13 Bankruptcy proceedings. The United States Bankruptcy Code is designed and intended to provide debtors a fresh start.

If you have debt piling up, calls from collection agencies, or if your mortgage company is threatening to foreclose on your home or other property, please contact the Firm to discuss your debt relief options.

Chapter 7

Many of our Bankruptcy clients ultimately file a Petition for Relief under Chapter 7 of the United States Bankruptcy Code. A “Chapter 7” Bankruptcy is designed for individuals who do not have the ability to pay their existing debts. Discharge of debts under Chapter 7 allows most debtors to rid themselves of all unsecured debt, such as credit card debt or unpaid medical expenses. There are exceptions to what kinds of debt can be discharged in Bankruptcy and you should talk to a Bankruptcy attorney to determine whether your debts are dischargeable. Examples of non-dischargeable debt include student loans, taxes, and child support or alimony.

In a Chapter 7, most people are also able to keep their home and vehicle, as long as they are current with their payments and can show that they can afford to continue to make payments on these items. In addition to the opportunity to keep the debtor’s home and vehicle(s), the State of Maryland entitles Chapter 7 debtors to exempt certain assets, including equity in a home, personal property and retirement assets.

We encourage you to meet with our attorneys to discuss how you can benefit by using the Bankruptcy laws designed to help you. If you think you might be a candidate for Bankruptcy or our other debt relief services, please contact the Firm to discuss your debt relief options.

Chapter 11

A Petition for Relief under Chapter 11 of the Bankruptcy Code allows a debtor to rehabilitate and reorganize its business by creating an “automatic stay,” which prevents creditors from taking legal action to collect against the debtor without the debtor’s consent. The Bankruptcy Code recognizes that a business that is permitted to continue operating, to reorganize, and to cancel some of its debt is more valuable than a dismantled business sold in parts. The business is rehabilitated through the creation of a Chapter 11 Plan, which is generally agreed upon by the debtor and its creditors.

Filing a Chapter 11 petition within the guidelines of the Bankruptcy Court is a daunting task and should only be done so with the help of an attorney. If you think you might be a candidate for Bankruptcy or our other debt relief services, please contact the Firm to discuss your debt relief options.

Chapter 13

A Petition for Relief under Chapter 13 of the Bankruptcy Code is designed for individuals with regular income who would like to and can afford to pay all or part of their debts in installments over a period of time. Persons are only eligible for “Chapter 13” if their secured debts do not exceed $1,081,400.00 and their unsecured debts do not exceed $360,475.00. Under Chapter 13, you must file a Plan with the Bankruptcy Court to repay your creditors all or part of the money that you owe them, using your future earnings. The Trustee and the Court must approve your plan before it can take effect. Chapter 13 allows for a consolidation of debts into a monthly payment plan, which is paid over a period of either 3 or 5 years. This monthly payment plan will be prepared by our attorneys.

Our attorneys will work with you through the preparation, filing, and discharge of your Bankruptcy proceedings, as well as answer any questions you may have along the way. If you think you might be a candidate for Bankruptcy or our other debt relief services, please contact the Firm to discuss your debt relief options.