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Call us to stop foreclosure, garnishment, repossession, lawsuits, and creditor harassment!
(301) 279-0303
Call us to stop foreclosure, garnishment, repossession, lawsuits, and creditor harassment!
(301) 279-0303

Practice Areas


Erik G. Soderberg
Liquidation Versus Reorganization
At the Law Office of Erik G. Soderberg in Rockville, Maryland, my law practice focuses on chapters 7 and 13 of the bankruptcy code. Each one has its own advantages and disadvantages. Read on to learn more.
 
Chapter 7 Bankruptcy
Chapter 7 bankruptcy may be the most effective way to stop creditor harassment and start fresh. It stops law suits, garnishments, telephone collection calls, and other creditor collection actions. In a Chapter 7 case, a trustee is appointed to liquidate your non-exempt assets for disbursement to your creditors. The trustee may not liquidate certain assets protected by state and federal law. Many Chapter 7 filings are no-asset bankruptcies. Generally, a Chapter 7 debtor can exempt most, if not all, of their assets from liquidation depending on the value of their assets.
foreclosure notice
Chapter 13 Bankruptcy
Chapter 13 bankruptcy allows you to reorganize your finances and get on the road to financial recovery. You can usually keep your property, but you must earn wages or have some other source of regular income, and you must agree to pay part of your income to your creditors. The court must approve your repayment plan and your budget. A trustee is appointed and will collect the payments from you, pay your creditors, and make sure you live up to the terms of your repayment plan. Many people file Chapter 13 to stop a foreclosure of a home or repossession of a car.
 
What kind of bankruptcy is best for you? It depends on your financial situation. I must review your case individually in order to know what bankruptcy chapter would be most beneficial to you.
 
Please call me to schedule a free consultation of your case.

I am a debt relief agent. I help people file for bankruptcy relief under the Bankruptcy Code.

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Law Office of Erik G. Soderberg
15 West Gude Drive, Suite 400, Rockville, MD 20850
Phone: (301)  279-0303, ext 368, Fax: (301) 315-8182
Law Office Hours: Monday–Friday 9 a.m.–6 p.m.