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Chapter 13 bankruptcy filing made by Baltimore city councilman

In today's tough economy, many people are facing financial struggles, such as problems with debt. Debt struggles can strike people from all walks of life. Sometimes, when a person is facing major debt struggles, he or she will turn to the protection of bankruptcy. A personal bankruptcy can help a person move out from under heavy debt and move on with their life.

Recently, a public official here in Maryland filed for a personal bankruptcy. Specifically, the filing was made by a member of Baltimore's city council.

According to the Baltimore Sun article which reported this story, the councilman has hundreds of thousands of dollars of debt.

Debt struggles can lead to a person facing many things. One thing such struggles can cause a person to face is the threat of foreclosure. The councilman has said that one of the reasons he is filing for bankruptcy is to avoid foreclosure.

The type of bankruptcy that the councilman has filed for is Chapter 13 bankruptcy. This type of bankruptcy generally involves the formation of a repayment plan. This differs from the other common type of personal bankruptcy, Chapter 7 bankruptcy, which generally involves discharges of debt.

There are many differences between these two types of bankruptcies and there are many different factors that can play a role in which type is right for a person who is seeking bankruptcy protection. This is one of the many reasons why having the advice of an experienced bankruptcy attorney can be important when one is considering bankruptcy.

Source: The Baltimore Sun, "Councilman Curran files for personal bankruptcy," Yvonne Wenger, Aug. 4, 2013 

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