Bankruptcy: Will Filing One Make an Impact On My Children?

A fresh start. That is what most people want when they ask for help from a bankruptcy lawyer in Davidson MD. But when you're a parent filing for bankruptcy things may take a different turn. You may wonder will bankruptcy casts its dark shadows over my children's life?

We find this concern legitimate. That's why it helps to review the possible circumstances to give you a better idea. Nevertheless, our answer is that you can still secure their future even after you've filed for a Chapter 7 or Chapter 13.

Will My Children’s Property Be Confiscated?

Generally, any property you've purchased is considered as your property. This will be listed in your bankruptcy schedule. If the child paid for an item from his or her own money (and you can prove it), then the item is not your property. For instance, all the items of electronic gadgets, clothing, toys, and furniture will be counted as belongings in your bankruptcy. But don't be alarmed. Bankruptcy trustees have no interest in such items because there’s little to no value in them. When you file for Chapter 7, you’re allowed to keep all exempt property. On the other hand, you are allowed to keep all of your property if you qualify for Chapter 13.

Will This Affect My Children's Bank Accounts?

Well, this could be a different story here. Since you've been asked to disclose all bank accounts, then a minor bank account will list you as the holder. But if the said account is under the Uniform Transfers to Minors Act or the Uniform Gifts to Minors Acts, then it is not a property of the bankruptcy estate.

Take note. You are not allowed to transfer money to your child's account prior to the filing of Chapter 7 or Chapter 13. If by chance you've done that. Then that deposit will be seized by the bankruptcy trustee and will be used to repay your creditors.On another hand, this transaction is considered fraud and bankruptcy attorney davidsonville md will most likely result in a nullification of your bankruptcy.It's a good idea to carefully work with a bankruptcy bankruptcy lawyer davidsonville md lawyer in Davidson MD so you can protect any asset that belongs to your children.

Will My Children Be Denied Student Loans in the Future?

No. Your children will still be able to obtain college loans. However, your filing for bankruptcy will automatically disqualify you from a credit-based loan. In the instance of you being denied a Plus loan, then it is up for your children to take out a larger loan on their behalf.

You don’t have to worry. A better future is still possible if you’ll declare for bankruptcy. Talk to a bankruptcy lawyer in Davidson MD to know more how these matters could affect your children. If you're in need of guidance and support in these challenging financial times, then call us! Baneylaw PC offers a free face-to-face consultation.We have assisted many parents through the Chapter 7 and Chapter 13 bankruptcy process. We are happy to answer any questions regarding how bankruptcy may affect your children.

Choosing a Bankruptcy Lawyer in Annapolis MD

Anyone can feel helpless when faced with bankruptcy. Filing for bankruptcy is the last resort for those already scraping at the bottom of the barrel. But like any other area of law, bankruptcy law is a complicated matter. Filing for either Chapter 7 or Chapter 13 involves numerous channels that will leave you breathless. Unless you’re practiced, embarking yourself on single-handedly facing this is a bad option. A misstep will have the liability of a case being dismissed. The best thing you can do is hire a bankruptcy lawyer in Annapolis, MD. He or she will be the main key to resolving your problems. He or she will give you the proper advice and represent you in bankruptcy court.

Below are important things you should look for when you choose a bankruptcy lawyer in Annapolis, MD:

Accreditations and Certifications

Check if they are qualified to represent you in court. A prospective candidate needs to be a full-fledged member of the National Association of Consumer Bankruptcy Attorneys (NACBA). Being an active member of this group means he/she is up-to-date with the latest developments in the field of bankruptcy law. Also, check the State Bar website, you’ll find a list of lawyers here who have been reviewed and have passed a written specialty examination.


You want to make sure that the lawyer you hire has experienced bankruptcy lawyer in specifically handling your case. There are many practice areas in the legal field, and most lawyers tend to handle cases in specific practice areas. Some lawyers tend to do a bit of everything. Your case demands a bankruptcy lawyer greater level of expertise, so don’t settle for anyone who is in general practice. A prospect should be someone who concentrates mainly on bankruptcy law. He or she is aware of all the options that are available to settle your case. If you’ve found one, take the time to visit his/her website. Check on where he/she finished law school, how long is he/she been practicing, and additional information about the support staff. Additionally, besides the website, you can also visit Facebook, Google+, and Avvo for reviews on your prospect’s professionalism.

Avail of Free Consultations

So, you’re almost finished with your research. It’s time to take advantage of the “freebies.” This session is a great opportunity to know your lawyer well. Having a sit-down is not just about asking for consultation fees, it’s also determining the comfort level you have with each other. Make sure the lawyer you select asks probing questions about you, has a full understanding of how you got into financial distress in the first place, and provides you with options. It’s important that you base your decision on who’s the most experienced and who's most concerned about giving you a NEW LEASH ON LIFE.

If you have reached the point where bankruptcy has become your best choice, you need a bankruptcy lawyer in Annapolis, MD. Baneylaw, P.C. is here to connect with you and make sure your rights are protected.

Choosing the Best Bankruptcy Lawyer to Represent You

The first question asked by many people if they file for bankruptcy is: do they need to hire a bankruptcy lawyer? This is no picnic to handle, especially when you’re already having a difficult time. With Google presenting you a list of the best lawyers in town, how do you choose the right one to represent you?

All lawyers went to law school and pass the State Bar Examination, so they must all be good at the same thing, right? Wrong. Not all lawyers are the same. The law is a vast and ever-expanding field. No one person can be an expert on the entirety of the law. That’s simply impossible. A good lawyer knows this and limits their practice to a few key areas. This makes him/her provide a better and more specific service. Other professions adopt this practice in many other areas. Do people treat all athletes the same? Brett Veach will never hire Zion Williamson. That just won’t match. So, would you hire a criminal lawyer to handle your bankruptcy case? No. Then why hire a bankruptcy lawyer? Because these types of professionals focus on helping consumers understand their rights and educate them on what bankruptcy will mean for them.

Some individuals think that they can file for bankruptcy by themselves. But consider this advice: the consequences of bankruptcy isn’t just there for a short period. One mishap and it all could be over for you. Hiring a competent bankruptcy lawyer is the only way to help you get out of the gutter.

Bankruptcy Knowledge and Experience

Knowledge and experience are factors that you have to weigh in immediately. Find someone who eats and sleeps bankruptcy law.

Does he/she have more than a decade of bankruptcy experience?

When was his/her first bankruptcy case?

Do he/she limit his practice solely on this law? Because practicing other disciplines will stretch yourself thin, right?

A piece of advice: some professionals will mislead their potential clients by saying they’ve been in practice for many years. As a backup query, ask them how many bankruptcy cases have they successfully filed.

Lawyer and Law Firm Reputation

Sadly, the best sources when it comes to a lawyer and law firms’ reputation are other lawyers or the court. Tough luck, these bankruptcy lawyers are pairing off against each other. Do you think you’ll ever get the chance to find a piece of commendable information? Most probably not. Why don’t you try your family, friends, or colleagues? Maybe they have filed for bankruptcy or know someone who was a former client of a bankruptcy lawyer.

Another good option is checking online. There is a credible online marketplace for legal services. Check for lawyer ratings and reviews from past clients. It’s important to know that he/she ranks high in the Bankruptcy Court, his/her peers, and bankruptcy lawyer in Annapolis MD former bankruptcy lawyer in Annapolis MD clients.

Are you still looking for a specialized law firm with hands-on experience in such cases? Many law firms offer bankruptcy services. Choose a law firm whose primary focus is bankruptcy law. Baneylaw, P.C. Bankruptcy And Consumer Law serves clients throughout the MA, DC, and VA areas. If you still don’t have a solution, then we will take care of that problem.

Consulting a Bankruptcy Lawyer: Questions to Ask

Asking questions during consultation is one key to hiring the right lawyer for you and your case. You can use such a method to assess a bankruptcy lawyer. From the way he/she answers your questions, you can identify his/her capability to handle your case. It is important to work with a person whom you’re comfortable with and at the same time has the right expertise regarding the nature of your case.

Here are some major questions you must ask when consulting a bankruptcy lawyer

1. What Type of Bankruptcy Should I File?

After providing relevant documents and answering the questions from a lawyer, it’s time for you to ask him/her as well. Since the lawyer already has an initial knowledge about your case, you can now ask what type of bankruptcy can resolve your problem, if is it Chapter 7 or Chapter 13 bankruptcy. With it, a lawyer should explain all available options for you and better if he/she clearly explains the difference of the two types of bankruptcies to give you a little background.

2. When will my case be filed?

A good lawyer should also notify you of when your bankruptcy case will be filed since he/she has the knowledge of how the court process works. Yet keep in mind that a lawyer can only give you an anticipated schedule after you provide and complete all necessary documents such as financial statements, credits and loans, tax statements, etc.

3. What common problems should I expect along the process?

With the available options that a lawyer has provided you, you may ask the possible problems you’ll encounter along the process. An experienced bankruptcy lawyer who handled numerous cases should be able to give you the common consequences for any option you choose. He/She should already know how the court and your creditor would respond to such an option. If there are any risks, a lawyer must tell you honestly. Your case might require you to lose some properties or a certain debt cannot be discharged.

4. Will You Be Going to Court With Me?

Always make sure to ask this question when you meet with a lawyer because in some cases, law firms assign outside lawyers to attend court hearings if ever you decided to work with them. This happens because some law firms receive legal cases, too much for their lawyer to handle.

5. How Much Will My Bankruptcy Cost?
The compensation of a lawyer will usually depend on the type of your bankruptcy case - a fee based on the complexity or a lawyer fee bankruptcy lawyer in annapolis md based on the guidelines established by a bankruptcy bankruptcy attorney in annapolis md court. Therefore, a lawyer should charge a reasonable fee following the right standards. Yet, it is not wise to hire a lawyer because he/she charges lower fees.

In addition, you should also ask if a lawyer can dedicate a regular time to meet with you personally and give updates about your case. He/She should do so to prevent problems throughout the bankruptcy process.

Looking for a reliable and bankruptcy lawyer in annapolis md honest group of bankruptcy lawyers? Consult Baneylaw, P.C., we will give the best legal assistance you deserve. Visit us at Parkway Suite 300, 1997 Annapolis Exchange, Annapolis, MD 21401, United States or you may call 571-620-6715.


What Factors to Consider in Hiring a Bankruptcy Lawyer

What factors you should look for when you want to hire a bankruptcy lawyer? With scheming creditors closing in and desperation mounting, anyone can foolishly select a legal counsel based on price, an advertisement or, worst of all, having no criteria at all. But selecting the right bankruptcy lawyer to handle your case can mean the difference between a final retribution to a and long-suffering pain of being in debt.

The Factor of Finding the Right Direction

If you aren’t sure where to begin, these options below will point you in the right direction:

* Close friends, family, and neighbors - Ask for a referral from someone you trust and who has been provided an excellent service in the past by a lawyer. Don’t worry if you get the name of someone who isn’t a bankruptcy attorney, simply call the lawyer’s office and ask the office staff who they recommend when clients have bankruptcy needs.

* The Internet - Use the internet to explore the local community for a bankruptcy lawyer. You’ll quickly find a list of them practicing in your area.

Once you’ve accumulated a list of good names, you can tone the number down by doing preliminary research. For instance, it’s a good practice to check to find out if the lawyer has a record of discipline—it happens more often than you might think. You can also look online for client reviews, news articles, and other information that might provide insight into the attorney’s reputation and competence.

The Factor of Specialization

When you begin looking for a bankruptcy lawyer, choose someone who specializes in it or who at least practices bankruptcy law on a day-to-day regimen. Any lawyer can handle a bankruptcy, but in practice, only those who usually handle such cases are worth using. Bankruptcy law can be very unique with a variety of different problems and pitfalls that may arise. While attorneys who don’t handle bankruptcy cases bankruptcy attorney Annapolis MD regularly may be able to take yours on, they may not have the experience to handle it properly. As a result, your case could get dismissed, you may lose property that you didn’t have to, and you may have to attend more hearings than needed.

The Factor of Familiarization

Find someone who is familiar with the local court. If you were to file bankruptcy on your own, you would have to attend the bankruptcy lawyer Annapolis MD hearing on your own; this is a stressful event for many people. But with a bankruptcy lawyer, you are getting the counsel of bankruptcy attorney someone who is familiar with local bankruptcy courts. You will benefit from their years of experience and the relationships your lawyer has cultivated throughout their career. This makes the whole process considerably easier on you and smoother overall.


Being buried in debt can be a very emotional and exhausting experience, as well as one that is scary and stressful. If you are facing crushing amounts of debt and are considering filing bankruptcy, it is within your best interest to retain the assistance of a bankruptcy lawyer. A lawyer can help to put an end to all the debt creditor harassment. He or she will also the explain your options for filing bankruptcy attorney and help you to get all necessary documents and paperwork in order. Lastly, he or she will provide you with a straight-forward and stress-free key to your financial problems.



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