Maryland Bankruptcy Guide and Forms Package for Chapters 7 or 13 - Maryland 2025

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Chapter 7 bankruptcy typically concludes within 4-6 months from initial filing to discharge of remaining debt. Chapter 13 involves a 3-5-year legal process with court-supervised debt repayment ending in the discharge of unpaid balances.
Under Chapter 7, you eliminate most of your debts, but you also stand to lose more of your assets. Under Chapter 13, the repayment requirements are higher, but you may be able to keep more of your property.
If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and dont have the option of filing Chapter 7.
What Forms Do You Need To File Chapter 7 Bankruptcy? Voluntary Petition for Individuals Filing for Bankruptcy. Summary of Your Assets and Liabilities and Certain Statistical Information. Schedule A/B: Property. Schedule C: The Property You Claim as Exempt. Schedule D: Secured Debts. Schedule E/F: Unsecured Debts.
The cost for filing a Chapter 7 bankruptcy is $306. This fee may not be waived but you may be able to pay it in installments.
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Generally, Chapter 7 is more appropriate for simple cases while Chapter 13 for more complicated bankruptcies. Or somewhat more accurately, Chapter 13 can give you more power over and flexibility with certain kinds of creditors, and if you have non-exempt assets.

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