Law Firm Helping Clients Achieve Financial Freedom
At Law Offices Robert M. Stahl LLC, we have more than three decades of experience representing individual and business debtors in connection with bankruptcy filing and restructuring their financial obligations through negotiated workouts with creditors and in state court lawsuits, as well as in bankruptcy reorganizations. Attorney Robert M. Stahl has experience in representing clients with serious financial and tax problems in all types of bankruptcy cases, and we have successfully helped thousands of Maryland clients discharge or reorganize tens of millions of dollars of commercial and tax-related financial obligations, as well as save their residential and commercial properties from foreclosure.
For Maryland clients seeking a lawyer to help them find a financial fresh start through bankruptcy, Law Offices Robert M. Stahl LLC is a trusted name. Call us to stop foreclosures, wage garnishments, lawsuits and IRS collections.
The Automatic Stay
An important feature applicable to all types of bankruptcy filings is the automatic stay which automatically stops most lawsuits, collection actions, repossessions, foreclosures, evictions, wage garnishments, attachments, utility shut-offs and debt collection harassment. It offers debtors a breathing spell by giving the debtor and the trustee assigned to the case time to review the situation and develop an appropriate plan.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is the most common type of consumer bankruptcy. This option allows debtors to liquidate their unsecured debts and obtain a financial fresh start.
Chapter 13 Bankruptcy
Whereas Chapter 7 bankruptcy involves liquidation, Chapter 13 bankruptcy is about reorganization. This option allows a debtor to consolidate, reorganize and brings their secured debts up to date.
Chapter 11 Individual Bankruptcy
While Chapter 11 is usually considered a business bankruptcy, it is utilized by individuals who own businesses or have uniquely complex debt structures that would be complicated or compromised by a more traditional Chapter 7 or Chapter 13 bankruptcy proceeding.
Small Business Bankruptcy Reorganization
Small businesses require special accommodation for their bankruptcy proceedings. Chapter 7 is not designed for small businesses that wish to retain control of operations, and chapter 11 is often too expensive in payback structure. Effective February 23, 2020, there is a middle ground between the two. The Small Business Reorganization Act (SBRA) streamlines the process of declaring bankruptcy for small businesses.
Most tax professionals mistakenly believe that no taxes can be eliminated (“discharged”) in a bankruptcy. This myth is wrong. Although the intersection of the United States Bankruptcy Code, the Internal Revenue Code, and IRS lien and levy rights is complicated, bankruptcy relief is available to stop collection activity by the IRS or state taxing authorities and eliminate some or all of an individual client’s tax liability. The filing of a bankruptcy case automatically and immediately stays (stops) IRS bank account levies and wage garnishments, and enables the taxpayer to either obtain a discharge or reorganize his or her tax liabilities.
What Is The Right Choice?
The most critical aspect of bankruptcy on the front end is deciding whether bankruptcy is the right choice and, if so, which type of bankruptcy to choose. At Law Offices Robert M. Stahl LLC, you will find an attorney with deep knowledge and experience who can help you make the best decision for your future.
Contact Law Offices Robert M. Stahl LLC
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.